Douglass Winthrop Advisors LLC Buys 419,512 Shares of American Tower Corporation $AMT

Key Points

• Douglass Winthrop Advisors LLC increased its holdings in American Tower Corporation by 7,802.0% during the first quarter, now owning 424,889 shares valued at approximately $92.5 million.
• American Tower reported earnings of $2.60 per share, slightly above analyst estimates, with revenue of $2.63 billion for the quarter, despite a 9.4% decline from the previous year.
• Institutional investors hold a significant 92.69% of American Tower's stock, indicating strong institutional confidence in the company.

Douglass Winthrop Advisors LLC boosted its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 7,802.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 424,889 shares of the real estate investment trust's stock after acquiring an additional 419,512 shares during the quarter. American Tower makes up approximately 1.8% of Douglass Winthrop Advisors LLC's holdings, making the stock its 26th biggest holding. Douglass Winthrop Advisors LLC owned about 0.09% of American Tower worth $92,456,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after purchasing an additional 2,104 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of American Tower by 127.4% in the 4th quarter. First Trust Advisors LP now owns 126,558 shares of the real estate investment trust's stock valued at $23,212,000 after purchasing an additional 70,895 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of American Tower by 49.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 110,141 shares of the real estate investment trust's stock valued at $20,201,000 after purchasing an additional 36,287 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of American Tower by 3.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 40,547 shares of the real estate investment trust's stock valued at $7,437,000 after purchasing an additional 1,327 shares during the last quarter. Finally, Coppell Advisory Solutions LLC boosted its stake in shares of American Tower by 58.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 324 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 119 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Trading Up 1.0%

AMT opened at $211.77 on Friday. The firm's fifty day moving average is $216.76 and its two-hundred day moving average is $212.47. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $99.16 billion, a PE ratio of 77.01, a price-to-earnings-growth ratio of 1.20 and a beta of 0.82. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results 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. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period last year, the business posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent research reports. Hsbc Global Res lowered shares of American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Barclays raised their target price on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective 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. Finally, UBS Group upped their target price on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $244.73.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the firm'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 transaction of $149,997.60. Following the sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company's stock.

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.

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