Banco Bilbao Vizcaya Argentaria S.A. Raises Holdings in American Tower Corporation $AMT

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. raised its stake in American Tower Corporation by 62.5% during Q1, now holding approximately $4.34 million worth of shares.
• CEO Juan Font sold 720 shares at an average price of $208.33, resulting in a valuation change of less than 3% in his ownership.
• Analysts have set new price targets for American Tower, with JPMorgan increasing its target from $250 to $255 and maintaining an "overweight" rating.

Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in American Tower Corporation (NYSE:AMT - Free Report) by 62.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,945 shares of the real estate investment trust's stock after buying an additional 7,670 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in American Tower were worth $4,340,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its stake in shares of American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after buying an additional 69 shares during the last quarter. Shum Financial Group Inc. boosted its stake in shares of American Tower by 3.5% in the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after buying an additional 141 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc boosted its stake in shares of American Tower by 13.3% in the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust's stock worth $50,487,000 after buying an additional 27,194 shares during the last quarter. Georgetown University boosted its position in American Tower by 128.2% during the fourth quarter. Georgetown University now owns 45,654 shares of the real estate investment trust's stock worth $8,373,000 after purchasing an additional 25,651 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. boosted its position in American Tower by 35.3% during the first quarter. Adams Diversified Equity Fund Inc. now owns 91,200 shares of the real estate investment trust's stock worth $19,845,000 after purchasing an additional 23,800 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value 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 approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.17% of the company's stock.

American Tower Stock Performance

NYSE AMT opened at $209.2340 on Thursday. The company has a market cap of $97.97 billion, a PE ratio of 76.09, a price-to-earnings-growth ratio of 1.18 and a beta of 0.82. The stock's 50 day simple moving average is $216.98 and its 200-day simple moving average is $212.11. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results 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 the consensus estimate of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business's quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Analysts Set New Price Targets

AMT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Raymond James Financial set a $250.00 price target on American Tower and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Hsbc Global Res downgraded American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Bank of America initiated coverage on American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price target on the stock. Finally, HSBC downgraded American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target on the stock. in a research 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 issued a Hold rating to the company. Based on data from MarketBeat.com, American Tower has an average rating of "Moderate Buy" and a consensus target price of $244.73.

American Tower Profile

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.

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (NYSE:AMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.