American Tower Corporation $AMT Stock Holdings Lessened by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC has reduced its stake in American Tower Corporation by 34.9%, leaving it with a position valued at $933,000 following the sale of 2,300 shares.
• The CEO, Juan Font, sold 720 shares of American Tower stock for approximately $150,000, representing a 2.98% decrease in his ownership of the company.
• Analysts have variously set price targets for American Tower, with Barclays raising it to $250.00 and JMP Securities increasing theirs to $260.00, indicating a positive outlook for the stock.

Cresset Asset Management LLC decreased its position in American Tower Corporation (NYSE:AMT - Free Report) by 34.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,287 shares of the real estate investment trust's stock after selling 2,300 shares during the quarter. Cresset Asset Management LLC's holdings in American Tower were worth $933,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMT. North Capital Inc. bought a new stake in American Tower during the first quarter valued at $25,000. Hopwood Financial Services Inc. boosted its holdings in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 60 shares during the period. Minot DeBlois Advisors LLC bought a new stake in shares of American Tower during the 4th quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower during the first quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC boosted its stake in American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 109 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the business'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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

American Tower Stock Performance

Shares of AMT traded up $2.04 during trading hours on Friday, reaching $211.77. 2,343,037 shares of the company's stock traded hands, compared to its average volume of 2,432,978. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The business's fifty day simple moving average is $216.76 and its two-hundred day simple moving average is $212.64. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $99.16 billion, a price-to-earnings ratio of 77.01, a P/E/G ratio of 1.21 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share 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 business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. The company'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. Analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMT. Scotiabank increased their price target on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. BMO Capital Markets restated an "outperform" rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Hsbc Global Res downgraded shares of American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada upped their price target on shares of American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Two equities 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.