American Tower Corporation $AMT Shares Sold by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners Inc. reduced its stake in American Tower Corporation by 3.3%, holding 62,768 shares valued at approximately $13.66 million after selling 2,161 shares in the first quarter.
• American Tower reported $2.63 billion in revenue for the latest quarter, slightly surpassing analyst estimates, but down 9.4% year-over-year, with earnings per share of $2.60.
• Hedge funds and institutional investors own about 92.69% of American Tower's stock, indicating strong institutional interest in the company.

Epoch Investment Partners Inc. cut its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,768 shares of the real estate investment trust's stock after selling 2,161 shares during the quarter. Epoch Investment Partners Inc.'s holdings in American Tower were worth $13,658,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of American Tower by 0.7% in the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust's stock valued at $13,667,344,000 after buying an additional 434,118 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of American Tower by 39.6% in the first 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 buying an additional 2,309,627 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of American Tower by 4.0% in the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust's stock valued at $1,606,621,000 after buying an additional 285,195 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of American Tower by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust's stock valued at $1,421,965,000 after buying an additional 88,120 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in American Tower by 3.7% during the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust's stock worth $1,335,407,000 after purchasing an additional 220,565 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research analyst reports. Raymond James Financial set a $250.00 target price on American Tower and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Wells Fargo & Company decreased their target price on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. HSBC downgraded 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. 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. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

Insider Buying and Selling

In related news, CEO Juan Font sold 720 shares of the company's stock in a transaction 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 directly owned 23,425 shares in the company, valued at approximately $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 can be accessed through the SEC website. Insiders own 0.17% of the company's stock.

American Tower Price Performance

Shares of NYSE:AMT traded up $1.14 on Friday, hitting $203.70. The company had a trading volume of 2,618,098 shares, compared to its average volume of 2,357,579. 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 52-week low of $172.51 and a 52-week high of $243.56. The business has a 50 day moving average of $215.77 and a 200 day moving average of $213.18. The company has a market cap of $95.38 billion, a PE ratio of 74.07, a PEG ratio of 1.26 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the business earned $2.79 earnings per share. The business's revenue 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, equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

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.