American Tower Corporation $AMT Shares Sold by Enterprise Financial Services Corp

Key Points

• Enterprise Financial Services Corp reduced its stake in American Tower Corporation by 47.8% during the first quarter, selling 1,185 shares and retaining 1,293 shares valued at $281,000.
• In its latest quarterly earnings, American Tower reported $2.60 earnings per share, surpassing analyst expectations, although revenue declined 9.4% year-over-year.
• Analysts have varying views on American Tower's stock, with price targets ranging from $230.00 to $255.00, reflecting a consensus rating of "Moderate Buy."

Enterprise Financial Services Corp lowered its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 47.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,293 shares of the real estate investment trust's stock after selling 1,185 shares during the quarter. Enterprise Financial Services Corp's holdings in American Tower were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Elmwood Wealth Management Inc. increased its position in shares of American Tower by 2.5% during the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after purchasing an additional 50 shares in the last quarter. 4J Wealth Management LLC increased its position in shares of American Tower by 4.0% during the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock worth $283,000 after purchasing an additional 50 shares during the last quarter. TCTC Holdings LLC lifted its position in American Tower by 15.8% in the first quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock valued at $81,000 after buying an additional 51 shares during the last quarter. Coyle Financial Counsel LLC boosted its stake in American Tower by 2.4% during the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock worth $487,000 after buying an additional 53 shares during the period. Finally, Fortitude Advisory Group L.L.C. increased its holdings in American Tower by 2.9% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock valued at $416,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Activity

In related news, CEO Juan Font sold 720 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 23,425 shares of the company's stock, valued at $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 SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

American Tower Stock Performance

NYSE AMT traded down $0.64 during trading hours on Thursday, hitting $202.63. The company had a trading volume of 2,966,814 shares, compared to its average volume of 2,596,822. The business has a 50 day moving average of $216.30 and a 200-day moving average of $212.86. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56. The company has a market cap of $94.88 billion, a PE ratio of 73.69, a price-to-earnings-growth ratio of 1.18 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The firm had revenue of $2.63 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Raymond James Financial set a $250.00 price objective on American Tower and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their price objective on shares of American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Barclays increased their target price on shares of American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Bank of America assumed coverage on shares of American Tower in a research note on Monday, May 19th. They issued a "buy" rating and a $255.00 price target for the company. Finally, UBS Group boosted their target price 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 issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently 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.