IFM Investors Pty Ltd Sells 26,069 Shares of American Tower Corporation $AMT

Key Points

• IFM Investors Pty Ltd reduced its holdings in American Tower Corporation by 19.1%, selling 26,069 shares and holding a total of 110,747 shares worth approximately $24.1 million.
• American Tower reported $2.60 earnings per share for the quarter, slightly exceeding analysts' expectations, but its revenue decreased by 9.4% year-over-year.
• Wall Street analysts have mixed ratings on AMT, with price targets ranging from $235.00 to $260.00 and an average rating of "Moderate Buy".

IFM Investors Pty Ltd decreased its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,747 shares of the real estate investment trust's stock after selling 26,069 shares during the quarter. IFM Investors Pty Ltd's holdings in American Tower were worth $24,099,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in American Tower by 0.7% in the 1st 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 acquiring an additional 434,118 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in American Tower by 39.6% during the 1st 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 purchasing an additional 2,309,627 shares during the period. Deutsche Bank AG boosted its position in American Tower by 4.0% in the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust's stock valued at $1,606,621,000 after buying an additional 285,195 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in American Tower by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust's stock valued at $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 valued at $1,335,407,000 after buying an additional 220,565 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent analyst reports. Hsbc Global Res lowered shares of American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada raised their price target on shares of American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research note 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 for the company in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. Finally, UBS Group upped their price target 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. Two 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's stock. According to data from MarketBeat, American Tower has an average rating of "Moderate Buy" and a consensus target price of $244.73.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred 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. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

American Tower Price Performance

Shares of American Tower stock traded down $1.28 during trading on Friday, hitting $195.27. 3,096,397 shares of the company's stock traded hands, compared to its average volume of 2,724,957. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The firm's fifty day moving average price is $210.83 and its 200 day moving average price is $213.37. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $241.97. The company has a market cap of $91.43 billion, a PE ratio of 71.01, a PEG ratio of 1.21 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last announced 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. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the firm posted $2.79 EPS. The firm's quarterly revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

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.