Candriam S.C.A. Cuts Stake in American Tower Corporation $AMT

Key Points

• Candriam S.C.A. has reduced its stake in American Tower Corporation by 7.9%, leaving it with approximately $10 million worth of shares after selling nearly 4,000 shares in the first quarter.
• In contrast, several other large investors have increased their stakes, with Kovitz Investment Group Partners LLC raising their investment by 126% during the same quarter.
• Analysts remain positive on American Tower's stock, with the average price target set at $244.73, reflecting a consensus of ratings ranging from "Buy" to "Strong Buy."

Candriam S.C.A. cut its stake in American Tower Corporation (NYSE:AMT - Free Report) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,090 shares of the real estate investment trust's stock after selling 3,978 shares during the quarter. Candriam S.C.A.'s holdings in American Tower were worth $10,029,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC grew its stake in shares of American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock valued at $80,000 after acquiring an additional 69 shares in the last quarter. Shum Financial Group Inc. grew its stake in shares of American Tower by 3.5% during the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock valued at $913,000 after acquiring an additional 141 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of American Tower by 126.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust's stock valued at $21,215,000 after acquiring an additional 54,360 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc grew its stake in shares of American Tower by 13.3% during the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust's stock valued at $50,487,000 after acquiring an additional 27,194 shares in the last quarter. Finally, Georgetown University grew its stake in shares of American Tower by 128.2% during the fourth quarter. Georgetown University now owns 45,654 shares of the real estate investment trust's stock valued at $8,373,000 after acquiring an additional 25,651 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Up 0.1%

NYSE:AMT opened at $209.7830 on Friday. The firm has a market capitalization of $98.23 billion, a PE ratio of 76.29, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. The stock has a 50 day moving average of $216.82 and a 200-day moving average of $212.28. American Tower Corporation has a 52 week low of $172.51 and a 52 week 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.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AMT shares. BMO Capital Markets restated an "outperform" rating and set a $245.00 target price (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. JMP Securities lifted their price target on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price target on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, UBS Group lifted their price target on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $244.73.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This 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 the SEC website. Company insiders own 0.17% of the company's stock.

American Tower Company 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.

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