Norinchukin Bank The Buys 2,849 Shares of American Tower Corporation $AMT

Key Points

• Norinchukin Bank The increased its stake in American Tower Corporation by 14.3%, acquiring an additional 2,849 shares to reach a total of 22,831 shares worth approximately $4.97 million.
• CEO Juan Font sold 720 shares of American Tower, resulting in a 2.98% decrease in his ownership, bringing his total holdings to 23,425 shares.
• American Tower's stock received a boost with analysts raising price targets, including Barclays increasing theirs from $246.00 to $250.00 and UBS lifting theirs to $260.00.

Norinchukin Bank The grew its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 14.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,831 shares of the real estate investment trust's stock after purchasing an additional 2,849 shares during the quarter. Norinchukin Bank The's holdings in American Tower were worth $4,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. North Capital Inc. acquired a new position in shares of American Tower in the 1st quarter valued at about $25,000. Hopwood Financial Services Inc. lifted its stake in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 60 shares during the period. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower in the 4th quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower in the 1st quarter valued at about $31,000. Finally, Lowe Wealth Advisors LLC lifted its stake in shares of American Tower by 218.0% in the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 109 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Trading Down 0.3%

Shares of NYSE AMT traded down $0.65 during trading hours on Monday, hitting $211.23. The company's stock had a trading volume of 1,238,945 shares, compared to its average volume of 2,585,672. 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 stock has a market cap of $98.91 billion, a price-to-earnings ratio of 76.81, a P/E/G ratio of 1.21 and a beta of 0.82. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The business has a 50-day simple moving average of $216.76 and a 200-day simple moving average of $212.80.

American Tower (NYSE:AMT - Get Free Report) last posted 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 return on equity of 24.85% and a net margin of 12.60%.The company had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. During the same period last year, the firm earned $2.79 earnings per share. American Tower's quarterly 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. On average, analysts anticipate 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 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 value of $149,997.60. Following the sale, the chief executive officer directly owned 23,425 shares of the company's stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. JMP Securities upped their price target on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada upped 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. Bank of America assumed coverage on American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 price target on the stock. BMO Capital Markets reissued an "outperform" rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

American Tower 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.