Nissay Asset Management Corp Japan ADV Increases Holdings in American Tower Corporation $AMT

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in American Tower Corporation by 11.0% during the first quarter, acquiring a total of 95,451 shares valued at approximately $20.77 million.
• Several institutional investors have modified their holdings of American Tower, with 92.69% of the stock currently owned by hedge funds and other institutional investors.
• American Tower reported $2.60 EPS for the latest quarter, exceeding consensus estimates, while the company's revenue declined by 9.4% compared to the same quarter last year.

Nissay Asset Management Corp Japan ADV raised its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 11.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,451 shares of the real estate investment trust's stock after acquiring an additional 9,428 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in American Tower were worth $20,770,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. North Capital Inc. bought a new stake in American Tower during the first quarter valued at about $25,000. Hopwood Financial Services Inc. raised its holdings 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 acquiring an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in American Tower during the first quarter valued at about $31,000. Lowe Wealth Advisors LLC raised its holdings 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 acquiring an additional 109 shares during the period. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of American Tower during the fourth quarter valued at about $29,000. 92.69% of the stock is owned by institutional investors.

Insider Activity

In other American Tower news, CEO Juan Font sold 720 shares of the business'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 completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

AMT has been the subject of a number of research analyst reports. Royal Bank Of Canada raised their price objective on American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. raised their price objective on American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. BMO Capital Markets restated an "outperform" rating and set a $245.00 price objective (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. The Goldman Sachs Group restated a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, HSBC lowered American Tower from a "buy" rating to a "hold" rating and set a $235.00 price objective for the company. in a research report on Wednesday, July 30th. Two 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $244.73.

American Tower Trading Up 1.7%

AMT traded up $3.27 on Friday, hitting $198.36. The company had a trading volume of 4,126,139 shares, compared to its average volume of 2,518,645. The company has a market cap of $92.88 billion, a PE ratio of 72.13, a PEG ratio of 1.22 and a beta of 0.86. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56. 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 fifty day simple moving average is $213.60 and its 200 day simple moving average is $213.65.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating 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 business 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 business earned $2.79 earnings per share. The company's revenue for the quarter 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. Equities research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

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.