Intech Investment Management LLC Acquires 49,423 Shares of American Tower Corporation $AMT

Key Points

• Intech Investment Management LLC has significantly increased its stake in American Tower Corporation, acquiring an additional 49,423 shares, bringing its total holdings to 56,893 shares valued at approximately $12.38 million.
• Institutional investors now own 92.69% of American Tower's stock, with notable investments from firms such as Nuveen LLC and GAMMA Investing LLC, further indicating strong institutional interest in the REIT.
• American Tower's stock price has experienced fluctuations, currently trading at $193.77, with a consensus analyst rating of "Moderate Buy" and a target price of $244.73.

Intech Investment Management LLC raised its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 661.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,893 shares of the real estate investment trust's stock after purchasing an additional 49,423 shares during the period. Intech Investment Management LLC's holdings in American Tower were worth $12,380,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AMT. North Capital Inc. purchased a new stake in American Tower in the first quarter worth $25,000. Hopwood Financial Services Inc. lifted its position in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 60 shares during the period. Minot DeBlois Advisors LLC bought a new stake in shares of American Tower during the 4th quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. bought a new position in American Tower in the first quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC lifted its holdings in American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after buying an additional 109 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Performance

Shares of AMT stock traded down $1.28 during trading hours on Friday, reaching $195.27. The company had a trading volume of 3,096,397 shares, compared to its average volume of 2,724,957. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The business has a fifty day moving average price of $210.83 and a 200-day moving average price of $213.37. American Tower Corporation has a one year low of $172.51 and a one year high of $241.97. The firm has a market cap of $91.43 billion, a PE ratio of 71.01, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the company posted $2.79 earnings per share. American Tower's revenue was down 9.4% compared to the same quarter last year. 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 fiscal year.

Insider Buying and Selling at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the firm'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 directly owned 23,425 shares of the company's stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on AMT shares. Barclays upped their target price on American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Bank of America began coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price objective for the company. UBS Group boosted their target price on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. HSBC lowered shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target for the company. in a research note on Wednesday, July 30th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $245.00 price objective (down previously from $250.00) on shares of American Tower in a research note 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.