BI Asset Management Fondsmaeglerselskab A S Has $38.76 Million Stake in American Tower Corporation $AMT

Key Points

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BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 178,127 shares of the real estate investment trust's stock after purchasing an additional 8,733 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in American Tower were worth $38,760,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Brighton Jones LLC grew its position in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after purchasing an additional 2,104 shares in the last quarter. XTX Topco Ltd purchased a new position in American Tower during the 4th quarter worth approximately $336,000. First Trust Advisors LP grew its position in American Tower by 127.4% during the 4th quarter. First Trust Advisors LP now owns 126,558 shares of the real estate investment trust's stock worth $23,212,000 after purchasing an additional 70,895 shares in the last quarter. MML Investors Services LLC grew its position in American Tower by 4.8% during the 4th quarter. MML Investors Services LLC now owns 44,293 shares of the real estate investment trust's stock worth $8,124,000 after purchasing an additional 2,046 shares in the last quarter. Finally, J. Safra Sarasin Holding AG grew its position in American Tower by 5.2% during the 4th quarter. J. Safra Sarasin Holding AG now owns 131,262 shares of the real estate investment trust's stock worth $24,075,000 after purchasing an additional 6,448 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Up 1.0%

Shares of AMT stock traded up $2.04 on Friday, hitting $211.77. The company's stock had a trading volume of 2,343,037 shares, compared to its average volume of 2,367,385. 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 Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The firm's fifty day moving average price is $216.76 and its 200-day moving average price is $212.47. The stock has a market capitalization of $99.16 billion, a price-to-earnings ratio of 77.01, a P/E/G ratio of 1.20 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the business earned $2.79 EPS. American Tower's quarterly revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

Insider Activity

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction 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 completion of the sale, the chief executive officer owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. The Goldman Sachs Group restated a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Barclays boosted their price target on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Royal Bank Of Canada boosted their price target on shares of American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, American Tower currently has a consensus rating of "Moderate Buy" and an average price target 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.