Ancora Advisors LLC Acquires 2,836 Shares of American Tower Corporation $AMT

Key Points

• Ancora Advisors LLC increased its stake in **American Tower Corporation** by **2.1%**, holding **135,510 shares** valued at approximately **$29.49 million** as of the latest SEC filing.
• Several institutional investors, including **Lowe Wealth Advisors LLC**, have significantly altered their positions in American Tower, which now has **92.69% of its stock owned by institutional investors and hedge funds**.
• American Tower reported **$2.60 earnings per share (EPS)** for the last quarter, slightly exceeding analysts' estimates, with revenue of **$2.63 billion**, indicating a **9.4% decline** year-over-year.

Ancora Advisors LLC lifted its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 2.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 135,510 shares of the real estate investment trust's stock after buying an additional 2,836 shares during the quarter. Ancora Advisors LLC's holdings in American Tower were worth $29,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in American Tower by 0.7% in the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust's stock valued at $13,667,344,000 after purchasing an additional 434,118 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock worth $1,772,144,000 after buying an additional 2,309,627 shares during the period. Deutsche Bank AG raised its stake in American Tower by 4.0% during the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust's stock worth $1,606,621,000 after buying an additional 285,195 shares during the period. Dimensional Fund Advisors LP raised its stake in American Tower by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust's stock worth $1,421,965,000 after buying an additional 88,120 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of American Tower by 3.7% in the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust's stock worth $1,335,407,000 after purchasing an additional 220,565 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMT has been the subject of several analyst reports. BMO Capital Markets reissued an "outperform" rating and issued a $245.00 price objective (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. UBS Group upped their target price on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada upped their target price on American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. increased their price objective on American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Raymond James Financial set a $250.00 price objective on American Tower and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, American Tower presently has an average rating of "Moderate Buy" and a consensus price target of $244.73.

American Tower Trading Down 3.6%

Shares of NYSE AMT traded down $7.08 during trading hours on Monday, hitting $191.24. The company's stock had a trading volume of 2,293,295 shares, compared to its average volume of 2,615,369. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $89.55 billion, a price-to-earnings ratio of 69.55, a P/E/G ratio of 1.22 and a beta of 0.86. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The business has a 50-day simple moving average of $213.60 and a 200-day simple moving average of $213.65.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business's revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Juan Font sold 720 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares of the company's stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company's stock.

About American Tower

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.