Gotham Asset Management LLC cut its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,985 shares of the real estate investment trust's stock after selling 16,770 shares during the quarter. Gotham Asset Management LLC's holdings in American Tower were worth $16,970,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. North Capital Inc. acquired a new stake in American Tower in the first quarter valued at $25,000. Hopwood Financial Services Inc. lifted its holdings in American Tower by 100.0% in the first 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. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower in the first quarter valued at $31,000. Lowe Wealth Advisors LLC lifted its holdings in American Tower by 218.0% in the first 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. Finally, Minot DeBlois Advisors LLC acquired a new stake in American Tower in the fourth quarter valued at $29,000. 92.69% of the stock is owned by institutional investors and hedge funds.
American Tower Price Performance
American Tower stock traded up $0.89 during midday trading on Tuesday, reaching $194.53. 3,383,691 shares of the company were exchanged, compared to its average volume of 2,638,183. The company has a market capitalization of $91.09 billion, a price-to-earnings ratio of 70.74, a P/E/G ratio of 1.22 and a beta of 0.86. The firm's 50-day simple moving average is $213.05 and its 200-day simple moving average is $213.66. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $243.56. 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 (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, topping 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 firm's quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have commented on AMT. Bank of America began coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 target price for the company. Raymond James Financial set a $250.00 target price on American Tower and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. Wells Fargo & Company cut their price target 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. Barclays lifted their price target on American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Finally, JPMorgan Chase & Co. lifted their price target on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, American Tower has an average rating of "Moderate Buy" and an average price target of $244.73.
Read Our Latest Research Report on American Tower
Insider Buying and Selling
In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company's stock.
American Tower Company Profile
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Free Report)
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.
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