Lansforsakringar Fondforvaltning AB publ Grows Position in American Tower Corporation $AMT

Key Points

• Lansforsakringar Fondforvaltning AB publ increased its stake in American Tower Corporation by 8.3% in Q1, owning approximately 380,603 shares valued at $82.8 million.
• CEO Juan Font sold 720 shares of American Tower at $208.33 each, resulting in a total transaction of nearly $150,000, and reduced his ownership by 2.98%.
• American Tower's quarterly earnings showed a slight increase in EPS to $2.60, surpassing analyst estimates, but revenues fell by 9.4% compared to the previous year.

Lansforsakringar Fondforvaltning AB publ increased its position in American Tower Corporation (NYSE:AMT - Free Report) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 380,603 shares of the real estate investment trust's stock after purchasing an additional 29,250 shares during the quarter. Lansforsakringar Fondforvaltning AB publ owned approximately 0.08% of American Tower worth $82,819,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. North Capital Inc. purchased a new position in American Tower during the first quarter valued at $25,000. Hopwood Financial Services Inc. raised its stake in American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 60 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new position in American Tower during the fourth quarter valued at $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in American Tower during the first quarter valued at $31,000. Finally, Lowe Wealth Advisors LLC raised its stake in American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the company's stock in a transaction that occurred 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 directly owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

American Tower Trading Down 1.8%

Shares of AMT stock opened at $203.67 on Thursday. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $243.56. 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 stock's 50 day simple moving average is $216.30 and its two-hundred day simple moving average is $212.86. The company has a market cap of $95.37 billion, a PE ratio of 74.06, a price-to-earnings-growth ratio of 1.18 and a beta of 0.82.

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 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the business posted $2.79 earnings per share. The company'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. Research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

Analyst Ratings Changes

AMT has been the subject of several recent analyst reports. Royal Bank Of Canada boosted their price target on American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Wells Fargo & Company decreased their price target on American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Hsbc Global Res cut American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. HSBC cut 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, 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. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, American Tower currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.73.

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.

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