American Tower Corporation $AMT Shares Purchased by Ceredex Value Advisors LLC

Key Points

• Ceredex Value Advisors LLC increased its holdings in American Tower Corporation by 23.5%, acquiring an additional 43,955 shares, bringing their total to 230,620 shares valued at approximately $50.18 million.
• Several analysts have adjusted their price targets for American Tower, with HSBC downgrading it to a "hold" rating at a $235 target, while Barclays and JMP Securities raised their targets to $250 and $260, respectively.
• American Tower reported earnings of $2.60 per share for the last quarter, which exceeded analyst estimates, but revenue of $2.63 billion was down 9.4% year-over-year.

Ceredex Value Advisors LLC grew its position in American Tower Corporation (NYSE:AMT - Free Report) by 23.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,620 shares of the real estate investment trust's stock after buying an additional 43,955 shares during the period. American Tower accounts for approximately 1.1% of Ceredex Value Advisors LLC's investment portfolio, making the stock its 28th largest position. Ceredex Value Advisors LLC's holdings in American Tower were worth $50,183,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AMT. Brighton Jones LLC lifted its holdings 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 buying an additional 2,104 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in American Tower by 3.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 864,289 shares of the real estate investment trust's stock worth $158,519,000 after buying an additional 28,435 shares in the last quarter. Northern Trust Corp lifted its holdings in American Tower by 10.5% during the 4th quarter. Northern Trust Corp now owns 5,525,180 shares of the real estate investment trust's stock worth $1,013,373,000 after buying an additional 524,089 shares in the last quarter. Lido Advisors LLC lifted its holdings in American Tower by 6.7% during the 4th quarter. Lido Advisors LLC now owns 116,898 shares of the real estate investment trust's stock worth $21,626,000 after buying an additional 7,313 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in American Tower by 7.5% during the 4th quarter. AQR Capital Management LLC now owns 175,173 shares of the real estate investment trust's stock worth $32,116,000 after buying an additional 12,180 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the business's 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

American Tower Stock Performance

Shares of American Tower stock traded up $1.14 on Friday, reaching $203.70. 2,618,098 shares of the stock were exchanged, compared to its average volume of 2,597,037. American Tower Corporation has a 1-year low of $172.51 and a 1-year 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 business has a fifty day moving average price of $216.04 and a two-hundred day moving average price of $212.95. The firm has a market capitalization of $95.38 billion, a PE ratio of 74.07, a PEG ratio of 1.16 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the business posted $2.79 earnings per share. The business's 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. As a group, research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. 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 on the stock. 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. Wells Fargo & Company reduced their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. 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 research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of "Moderate Buy" and a consensus 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.