EP Wealth Advisors LLC Sells 50,913 Shares of American Tower Corporation $AMT

Key Points

• EP Wealth Advisors LLC reduced its stake in American Tower Corporation by 15.3%, selling 50,913 shares but still retaining 281,727 shares valued at approximately $61.3 million.
• American Tower's most recent quarterly earnings showed an EPS of $2.60, slightly exceeding analysts' expectations, despite a 9.4% revenue decline from the previous year.
• Wall Street analysts have mixed views on American Tower, with target price adjustments ranging from $230 to $255, and an average consensus rating of "Moderate Buy."

EP Wealth Advisors LLC cut its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 15.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 281,727 shares of the real estate investment trust's stock after selling 50,913 shares during the quarter. EP Wealth Advisors LLC owned 0.06% of American Tower worth $61,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. North Capital Inc. purchased a new position in American Tower in the first quarter worth $25,000. Hopwood Financial Services Inc. lifted its stake in American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new position in shares of American Tower in the 4th quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of American Tower during the 1st quarter valued at about $31,000. Finally, Lowe Wealth Advisors LLC raised its holdings in shares of American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Trading Up 1.7%

NYSE AMT traded up $3.27 during trading on Friday, hitting $198.36. The company had a trading volume of 4,126,139 shares, compared to its average volume of 2,398,712. The company's fifty day moving average is $213.60 and its 200-day moving average is $213.33. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a market cap of $92.88 billion, a price-to-earnings ratio of 72.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86.

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 for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the firm posted $2.79 EPS. The company's revenue for the quarter 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. On average, sell-side analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on AMT shares. Bank of America initiated coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price objective on the stock. Hsbc Global Res cut American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Wells Fargo & Company dropped their price objective on American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $245.00 price target (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $244.73.

American Tower Company 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.