Ilmarinen Mutual Pension Insurance Co Has $6.30 Million Stock Holdings in American Tower Corporation $AMT

Key Points

• Ilmarinen Mutual Pension Insurance Co has reduced its stake in American Tower Corporation by 49.2%, now holding 28,949 shares worth approximately $6.3 million.
• Several hedge funds have adjusted their positions in American Tower, with institutional investors currently owning around 92.69% of the stock.
• Analysts are optimistic about American Tower, with UBS Group raising their price target from $250 to $260 while maintaining a "buy" rating, reflecting positive sentiment towards the company's performance.

Ilmarinen Mutual Pension Insurance Co trimmed its position in American Tower Corporation (NYSE:AMT - Free Report) by 49.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,949 shares of the real estate investment trust's stock after selling 28,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in American Tower were worth $6,299,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Elmwood Wealth Management Inc. grew its holdings in shares of American Tower by 2.5% during the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after purchasing an additional 50 shares during the last quarter. 4J Wealth Management LLC lifted its stake in shares of American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock worth $283,000 after acquiring an additional 50 shares during the period. TCTC Holdings LLC lifted its stake in shares of American Tower by 15.8% in the first quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock worth $81,000 after acquiring an additional 51 shares during the period. Coyle Financial Counsel LLC lifted its stake in shares of American Tower by 2.4% in the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock worth $487,000 after acquiring an additional 53 shares during the period. Finally, Fortitude Advisory Group L.L.C. lifted its stake in shares of American Tower by 2.9% in the first quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock worth $416,000 after acquiring 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

A number of equities analysts recently commented on the company. UBS Group lifted their price objective on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $245.00 price objective (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. HSBC lowered American Tower from a "buy" rating to a "hold" rating and set a $235.00 price objective on the stock. in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their price objective 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. Finally, Hsbc Global Res downgraded shares of American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Two 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 company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $244.73.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

American Tower Price Performance

Shares of NYSE:AMT opened at $194.53 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The stock's 50 day moving average is $212.45 and its 200-day moving average is $213.53. The firm has a market capitalization of $91.09 billion, a price-to-earnings ratio of 70.74, a PEG ratio of 1.20 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the firm earned $2.79 earnings per share. American Tower's revenue for the quarter was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

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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