Enterprise Financial Services Corp Trims Position in American Tower Corporation $AMT

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

Other institutional investors have also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new position in American Tower in the 1st quarter valued at about $25,000. Hopwood Financial Services Inc. increased its position in 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 acquiring an additional 60 shares during the period. Minot DeBlois Advisors LLC acquired a new position in American Tower in the 4th quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower in the 1st quarter valued at about $31,000. Finally, Lowe Wealth Advisors LLC increased its position in American Tower by 218.0% in the 1st 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. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of the company'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 value of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company's stock.

American Tower Price Performance

Shares of NYSE:AMT traded up $0.03 during trading on Friday, hitting $202.59. 780,418 shares of the stock were exchanged, compared to its average volume of 2,585,609. The company has a fifty day moving average price of $216.04 and a two-hundred day moving average price of $212.95. The company has a market cap of $94.86 billion, a PE ratio of 73.72, a P/E/G ratio of 1.16 and a beta of 0.82. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company's quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Bank of America assumed coverage on American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada boosted their target price on American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Barclays boosted their target price on American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Finally, HSBC cut American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price on the stock. in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

American Tower Profile

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.