Haverford Trust Co Boosts Stock Position in American Tower Corporation $AMT

Key Points

• Haverford Trust Co increased its stake in American Tower Corporation (NYSE:AMT) by 1.8%, now owning 182,936 shares valued at approximately $39.8 million.
• Several large investors, including Vanguard Group and Price T Rowe Associates, have also boosted their positions in American Tower, reflecting strong institutional interest in the stock.
• American Tower reported earnings of $2.60 per share for the last quarter, slightly exceeding analyst estimates, with anticipated earnings guidance for FY 2025 set at $10.460-$10.650 per share.

Haverford Trust Co boosted its position in American Tower Corporation (NYSE:AMT - Free Report) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 182,936 shares of the real estate investment trust's stock after buying an additional 3,207 shares during the period. Haverford Trust Co's holdings in American Tower were worth $39,807,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in AMT. Vanguard Group Inc. boosted its holdings in American Tower by 0.7% in the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust's stock valued at $13,667,344,000 after purchasing an additional 434,118 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of American Tower by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock worth $1,772,144,000 after buying an additional 2,309,627 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of American Tower by 4.0% in the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust's stock worth $1,606,621,000 after buying an additional 285,195 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of American Tower by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust's stock worth $1,421,965,000 after buying an additional 88,120 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in American Tower by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust's stock worth $1,335,407,000 after purchasing an additional 220,565 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 1.0%

NYSE AMT opened at $211.77 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The business's fifty day simple moving average is $216.76 and its 200-day simple moving average is $212.47. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. The firm has a market cap of $99.16 billion, a PE ratio of 77.01, a P/E/G ratio of 1.20 and a beta of 0.82.

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 company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company's revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

Insider Buying and Selling at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the company's 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 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 through this link. Corporate insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent research reports. Barclays upped their price objective on American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday. 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 report on Thursday, July 31st. Wells Fargo & Company decreased their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $245.00 price target (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised their target price on American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Two equities 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, American Tower presently has a consensus rating of "Moderate Buy" and an average price target of $244.73.

American Tower Company 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.

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