Eventide Asset Management LLC Has $3.81 Million Holdings in American Tower Corporation $AMT

Key Points

• Eventide Asset Management LLC significantly increased its stake in American Tower Corporation by 570.2%, acquiring an additional 15,041 shares, bringing its total to 17,679 shares worth approximately $3.81 million.
• American Tower reported earnings per share (EPS) of $2.60 for the last quarter, slightly exceeding analysts' expectations of $2.59, although its revenue decreased by 9.4% year-over-year.
• Recent ratings changes for American Tower include a downgrade from HSBC to "hold," while Goldman Sachs maintains a "buy" rating, and Wells Fargo lowers its price target from $240 to $230.

Eventide Asset Management LLC lifted its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 570.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,679 shares of the real estate investment trust's stock after buying an additional 15,041 shares during the period. Eventide Asset Management LLC's holdings in American Tower were worth $3,811,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC grew its stake in shares of American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 69 shares in the last quarter. Shum Financial Group Inc. increased its stake in American Tower by 3.5% during the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock valued at $913,000 after buying an additional 141 shares during the period. Kovitz Investment Group Partners LLC raised its position in shares of American Tower by 126.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust's stock worth $21,215,000 after buying an additional 54,360 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc boosted its holdings in shares of American Tower by 13.3% in the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust's stock valued at $50,487,000 after acquiring an additional 27,194 shares in the last quarter. Finally, Georgetown University increased its stake in shares of American Tower by 128.2% during the fourth quarter. Georgetown University now owns 45,654 shares of the real estate investment trust's stock valued at $8,373,000 after acquiring an additional 25,651 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of research analyst reports. UBS Group upped their target price on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. HSBC lowered American Tower from a "buy" rating to a "hold" rating and set a $235.00 price objective for the company. in a report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Barclays upped their price target on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, Royal Bank Of Canada raised their price objective on shares of American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, American Tower presently has an average rating of "Moderate Buy" and a consensus price target of $244.73.

American Tower Trading Up 0.5%

AMT traded up $0.89 during trading on Tuesday, reaching $194.53. The company had a trading volume of 3,358,598 shares, compared to its average volume of 2,638,180. The firm's 50-day simple moving average is $213.05 and its 200 day simple moving average is $213.66. 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 company has a market cap of $91.09 billion, a price-to-earnings ratio of 70.74, a PEG ratio of 1.22 and a beta of 0.86. 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 posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The company had revenue of $2.63 billion during 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 quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $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 earnings per share for the current year.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of American Tower 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 transaction, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company's stock.

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.