Great Lakes Advisors LLC Has $100.99 Million Holdings in American Tower Corporation $AMT

Key Points

• Great Lakes Advisors LLC increased its stake in American Tower Corporation by 4.2%, now holding 463,268 shares valued at approximately $100,987,000.
• Several institutional investors made significant changes to their positions in American Tower, including Nuveen LLC, which purchased shares worth about $991.5 million during the first quarter.
• American Tower posted better-than-expected Q2 earnings of $2.60 per share, slightly above the consensus estimate of $2.59, with revenue of $2.63 billion, reflecting a year-over-year decline.

Great Lakes Advisors LLC raised its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 463,268 shares of the real estate investment trust's stock after acquiring an additional 18,832 shares during the period. American Tower comprises about 0.9% of Great Lakes Advisors LLC's investment portfolio, making the stock its 29th largest holding. Great Lakes Advisors LLC owned about 0.10% of American Tower worth $100,987,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. North Capital Inc. bought a new stake in shares of American Tower in the first quarter valued at about $25,000. Hopwood Financial Services Inc. lifted its holdings in shares of 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 purchasing an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Tower in the first quarter valued at about $31,000. Lowe Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 109 shares in the last quarter. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of American Tower in the fourth quarter valued at about $29,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

Shares of AMT stock traded down $0.84 during trading on Wednesday, hitting $193.77. The company had a trading volume of 2,486,748 shares, compared to its average volume of 2,751,869. 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 firm has a market capitalization of $90.73 billion, a P/E ratio of 70.46, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. The stock's 50-day moving average price is $211.86 and its 200 day moving average price is $213.39. American Tower Corporation has a one year low of $172.51 and a one year high of $241.97.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results 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. The business 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 revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other American Tower 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 transaction of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of recent research reports. Raymond James Financial set a $250.00 target price on American Tower and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. Barclays lifted their target price on American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. 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. Royal Bank Of Canada boosted their price target 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, 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 price target on the stock. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $244.73.

About American Tower

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.