Modern Wealth Management LLC Has $872,000 Stock Holdings in American Tower Corporation $AMT

Key Points

• Modern Wealth Management LLC reduced its stake in American Tower Corporation by 26.8%, selling 1,466 shares during the first quarter.
• American Tower reported earnings of $2.60 per share, surpassing analysts' expectations, but its revenue decreased by 9.4% compared to the same period last year.
• Analysts have mixed outlooks on American Tower, with a target price range between $230.00 and $260.00, and an average rating of "Moderate Buy."

Modern Wealth Management LLC decreased its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 26.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,008 shares of the real estate investment trust's stock after selling 1,466 shares during the period. Modern Wealth Management LLC's holdings in American Tower were worth $872,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in American Tower by 0.7% during 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 period. Price T Rowe Associates Inc. MD grew its holdings in American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock valued at $1,772,144,000 after purchasing an additional 2,309,627 shares in the last quarter. Deutsche Bank AG grew its holdings in American Tower by 4.0% during the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust's stock valued at $1,606,621,000 after purchasing an additional 285,195 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in American Tower by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust's stock valued at $1,421,965,000 after acquiring an additional 88,120 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in American Tower by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust's stock valued at $1,335,407,000 after acquiring an additional 220,565 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Price Performance

Shares of NYSE:AMT traded up $2.11 on Tuesday, hitting $194.61. The stock had a trading volume of 3,253,754 shares, compared to its average volume of 2,648,615. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $241.46. 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 firm's 50 day moving average price is $210.27 and its 200-day moving average price is $213.42. The company has a market capitalization of $91.13 billion, a price-to-earnings ratio of 70.77, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.79 EPS. 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 earnings per share for the current year.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMT. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. JPMorgan Chase & Co. raised their price target on shares of American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. HSBC cut shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price for the company. in a research note on Wednesday, July 30th. Finally, 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 research report on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.