Groupama Asset Managment Buys 1,503 Shares of American Tower Corporation $AMT

Key Points

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Groupama Asset Managment lifted its position in American Tower Corporation (NYSE:AMT - Free Report) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,975 shares of the real estate investment trust's stock after buying an additional 1,503 shares during the quarter. Groupama Asset Managment's holdings in American Tower were worth $20,688,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMT. North Capital Inc. purchased a new stake in shares of American Tower in the first quarter worth 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 worth $26,000 after buying an additional 60 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in shares of American Tower in the fourth quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower in the first quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC lifted its position in American Tower by 218.0% during 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 during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of AMT stock traded up $2.04 during trading hours on Friday, hitting $211.77. 2,343,037 shares of the company's stock were exchanged, compared to its average volume of 2,432,978. The company has a market capitalization of $99.16 billion, a PE ratio of 77.01, a PEG ratio of 1.21 and a beta of 0.82. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56. The business's 50 day simple moving average is $216.76 and its 200-day simple moving average is $212.80. 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 (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business's revenue was down 9.4% compared to the same quarter last year. During the same period last year, the firm posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the subject of several research analyst reports. Bank of America initiated coverage on shares of American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 target price for the company. UBS Group lifted their target price on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. JMP Securities lifted their target price on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $245.00 target price (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of "Moderate Buy" and an average price target of $244.73.

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.