Jones Financial Companies Lllp Grows Position in American Tower Corporation $AMT

Key Points

• Jones Financial Companies Lllp increased its stake in American Tower Corporation by 18.3%, now owning 170,988 shares valued at approximately $37 million.
• Multiple institutional investors have also raised their holdings, with Vanguard Group owning over 62 million shares worth about $13.67 billion.
• American Tower's stock performance includes a recent earnings report showing an EPS of $2.60, exceeding estimates, while analysts suggest a Moderate Buy with an average price target of $244.73.

Jones Financial Companies Lllp raised its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 18.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 170,988 shares of the real estate investment trust's stock after acquiring an additional 26,507 shares during the period. Jones Financial Companies Lllp's holdings in American Tower were worth $37,003,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMT. Vanguard Group Inc. grew its holdings in shares of 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 worth $13,667,344,000 after purchasing an additional 434,118 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 purchasing an additional 2,309,627 shares during the last quarter. Deutsche Bank AG grew its holdings 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 purchasing an additional 285,195 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 purchasing an additional 88,120 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of American Tower by 3.7% in the first 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 during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Barclays lifted their price target on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, August 18th. HSBC cut shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target on the stock. in a report on Wednesday, July 30th. BMO Capital Markets reiterated an "outperform" rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. UBS Group lifted their price target 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. Finally, Wells Fargo & Company cut their price target 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. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $244.73.

American Tower Stock Performance

AMT opened at $195.27 on Monday. 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 company has a market cap of $91.43 billion, a price-to-earnings ratio of 71.01, a PEG ratio of 1.20 and a beta of 0.86. The company's 50 day moving average is $210.83 and its 200 day moving average is $213.52. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $241.97.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the firm posted $2.79 EPS. The firm's quarterly 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. On average, equities research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

Insider Activity

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 transaction of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares in the company, 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 is accessible through this hyperlink. 0.18% of the stock is owned by company insiders.

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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