MBB Public Markets I LLC Takes $323,000 Position in American Tower Corporation $AMT

Key Points

• MBB Public Markets I LLC purchased 1,486 shares of American Tower Corporation worth approximately $323,000 in the first quarter, indicating growing interest from institutional investors in the company.
• American Tower reported a EPS of $2.60 for the latest quarter, slightly beating analyst estimates, despite experiencing a 9.4% year-over-year revenue decline.
• Analyst sentiment remains mixed, with two strong buy ratings and a consensus target price of $244.73, reflecting varying confidence in the company's future performance.

MBB Public Markets I LLC acquired a new stake in American Tower Corporation (NYSE:AMT - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,486 shares of the real estate investment trust's stock, valued at approximately $323,000.

Other institutional investors also recently modified their holdings of the company. Resolution Capital Ltd bought a new stake in shares of American Tower in the 1st quarter valued at $72,706,000. Golden State Wealth Management LLC boosted its stake in shares of American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 69 shares during the last quarter. Shum Financial Group Inc. boosted its stake in shares of American Tower by 3.5% in the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock valued at $913,000 after purchasing an additional 141 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of American Tower by 126.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust's stock valued at $21,215,000 after purchasing an additional 54,360 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its stake in American Tower by 13.3% during the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust's stock worth $50,487,000 after acquiring an additional 27,194 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. 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. Bank of America assumed coverage on shares of American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 target price on the stock. Barclays increased their target price on shares of American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Royal Bank Of Canada increased their target price on shares of American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. Two equities research 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 stock. According to MarketBeat, American Tower presently has an average rating of "Moderate Buy" and a consensus target price of $244.73.

American Tower Stock Down 0.7%

AMT traded down $1.28 during trading on Friday, hitting $195.27. 3,096,397 shares of the company's stock were exchanged, compared to its average volume of 2,724,957. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The business's 50 day moving average is $210.83 and its two-hundred day moving average is $213.37. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $241.97. The stock has a market cap of $91.43 billion, a P/E ratio of 71.01, a PEG ratio of 1.21 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share 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 firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. The business's 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. As a group, equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the stock in a transaction dated Thursday, July 31st. The shares were 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 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 hyperlink. 0.17% of the stock is currently owned by corporate 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.