Bahl & Gaynor Inc. Sells 1,953 Shares of American Tower Corporation $AMT

Key Points

• Bahl & Gaynor Inc. has reduced its stake in American Tower Corporation by 28.1% during the first quarter, owning 5,008 shares valued at approximately $1,090,000 after selling 1,953 shares.
• Despite Bahl & Gaynor's cut, other institutional investors have increased their stakes in American Tower, with Kovitz Investment Group Partners LLC lifting its position by 126.0% during the same period.
• American Tower reported earnings of $2.60 per share, beating estimates, and has set its FY 2025 guidance at 10.460-10.650 EPS, reflecting anticipated growth in the coming years.

Bahl & Gaynor Inc. lessened its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 28.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,008 shares of the real estate investment trust's stock after selling 1,953 shares during the quarter. Bahl & Gaynor Inc.'s holdings in American Tower were worth $1,090,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. North Capital Inc. purchased a new stake in American Tower in the first quarter worth about $25,000. Hopwood Financial Services Inc. grew its holdings in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower in the first quarter worth about $31,000. Lowe Wealth Advisors LLC grew its holdings in shares of American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares during the last quarter. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of American Tower during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

AMT stock traded down $0.64 on Thursday, hitting $202.63. The company had a trading volume of 2,978,231 shares, compared to its average volume of 2,596,846. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The stock's 50-day simple moving average is $216.30 and its 200 day simple moving average is $212.86. The stock has a market cap of $94.88 billion, a price-to-earnings ratio of 73.69, a P/E/G ratio of 1.18 and a beta of 0.82.

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

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Hsbc Global Res lowered shares of American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Barclays boosted their price objective on shares of American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. JMP Securities boosted their price objective on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. BMO Capital Markets restated an "outperform" rating and issued a $245.00 price objective (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Finally, Bank of America assumed coverage on shares of American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $244.73.

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.