Curi RMB Capital LLC Decreases Stock Holdings in American Tower Corporation $AMT

Key Points

• Curi RMB Capital LLC reduced its stake in American Tower Corporation by 41.3% in the first quarter, selling 32,054 shares and leaving them with 45,583 shares valued at approximately $9.92 million.
• Other institutional investors showed mixed activity, with Golden State Wealth Management increasing its position by 23%, while Kovitz Investment Group expanded its holdings by an impressive 126%.
• Analysts have a generally positive outlook on American Tower, with an average rating of "Moderate Buy" and a price target of $244.73, despite recent downgrades from some firms.

Curi RMB Capital LLC trimmed its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 41.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,583 shares of the real estate investment trust's stock after selling 32,054 shares during the quarter. Curi RMB Capital LLC's holdings in American Tower were worth $9,919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AMT. Nuveen LLC bought a new position in American Tower in the first quarter valued at about $991,525,000. Price T Rowe Associates Inc. MD raised its position in shares of American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock valued at $1,772,144,000 after acquiring an additional 2,309,627 shares during the last quarter. GAMMA Investing LLC raised its position in shares of American Tower by 23,627.3% during the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock valued at $370,346,000 after acquiring an additional 1,694,784 shares during the last quarter. Bessemer Group Inc. raised its position in shares of American Tower by 272.0% during the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust's stock valued at $247,390,000 after acquiring an additional 831,247 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of American Tower during the 1st quarter valued at $162,127,000. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AMT shares. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. HSBC lowered shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. Bank of America started coverage on shares of American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 target price on the stock. UBS Group raised their price objective on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Hsbc Global Res downgraded shares of American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Two equities research 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $244.73.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares in the company, 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 SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

American Tower Stock Up 0.5%

Shares of AMT stock traded up $0.92 on Wednesday, hitting $195.52. The stock had a trading volume of 792,454 shares, compared to its average volume of 2,627,154. The business has a 50 day moving average of $212.45 and a 200 day moving average of $213.53. The stock has a market cap of $91.55 billion, a price-to-earnings ratio of 71.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. 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 12-month low of $172.51 and a 12-month high of $241.97.

American Tower (NYSE:AMT - Get Free Report) last announced 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. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company 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 firm's revenue for the quarter was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

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.