American Tower Corporation $AMT Shares Sold by Groupe la Francaise

Key Points

• Groupe la Francaise reduced its stake in American Tower Corporation by 34.6%, selling 2,689 shares and holding 5,085 shares valued at approximately $1,094,000.
• Several large investors, including Douglass Winthrop Advisors and Allstate Corp, have significantly increased their holdings in American Tower in the first quarter of the year.
• American Tower's recent earnings report showed EPS of $2.60 for the quarter, beating estimates slightly, while also projecting a FY 2025 guidance in the range of 10.460-10.650 EPS.

Groupe la Francaise reduced its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 34.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,085 shares of the real estate investment trust's stock after selling 2,689 shares during the period. Groupe la Francaise's holdings in American Tower were worth $1,094,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Elmwood Wealth Management Inc. increased its stake in American Tower by 2.5% during the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after buying an additional 50 shares during the period. 4J Wealth Management LLC increased its stake in American Tower by 4.0% during the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock worth $283,000 after buying an additional 50 shares during the period. TCTC Holdings LLC increased its stake in American Tower by 15.8% during the 1st quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock worth $81,000 after buying an additional 51 shares during the period. Coyle Financial Counsel LLC increased its stake in American Tower by 2.4% during the 1st quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock worth $487,000 after buying an additional 53 shares during the period. Finally, Fortitude Advisory Group L.L.C. increased its stake in American Tower by 2.9% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock worth $416,000 after buying an additional 54 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent research reports. UBS Group upped their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada increased 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. Scotiabank increased their price objective on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. BMO Capital Markets reissued an "outperform" rating and issued a $245.00 price objective (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Finally, HSBC downgraded shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 price objective on the stock. in a research report on Wednesday, July 30th. Two 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's stock. According to MarketBeat, American Tower currently has a consensus rating of "Moderate Buy" and an average price target of $244.73.

American Tower Stock Down 0.3%

Shares of NYSE AMT traded down $0.64 during mid-day trading on Thursday, reaching $202.63. The company had a trading volume of 2,978,231 shares, compared to its average volume of 2,596,846. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm has a 50 day simple moving average of $216.30 and a two-hundred day simple moving average of $212.86. The stock has a market cap of $94.88 billion, a P/E ratio of 73.69, a PEG ratio of 1.18 and a beta of 0.82. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results 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 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 company's revenue was down 9.4% on a year-over-year basis. During the same period last year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Sell-side analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The sale 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 company insiders.

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.