OMERS ADMINISTRATION Corp Reduces Position in American Tower Corporation $AMT

Key Points

• OMERS ADMINISTRATION Corp has decreased its stake in American Tower Corporation (NYSE:AMT) by 14.3%, selling 2,859 shares during the first quarter, resulting in a total of 17,142 shares worth approximately $3.73 million.
• Several hedge funds have adjusted their positions in American Tower, with B. Metzler seel. Sohn & Co. AG increasing its holdings by 70.8%, now owning 51,596 shares valued at approximately $11.23 million.
• American Tower's recent quarterly earnings report showed an EPS of $2.60, slightly beating expectations, but revenue fell by 9.4% year-over-year to $2.63 billion.

OMERS ADMINISTRATION Corp lowered its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 14.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,142 shares of the real estate investment trust's stock after selling 2,859 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in American Tower were worth $3,730,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. North Capital Inc. bought a new position in shares of American Tower in the first quarter valued at about $25,000. Hopwood Financial Services Inc. lifted its position 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 worth $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 worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Tower in the 1st quarter valued at $31,000. Finally, Lowe Wealth Advisors LLC increased its stake in American Tower by 218.0% during 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 in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Buying and Selling

In related news, CEO Juan Font sold 720 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

American Tower Price Performance

NYSE:AMT traded down $1.70 during trading hours on Wednesday, reaching $198.79. The stock had a trading volume of 1,022,210 shares, compared to its average volume of 2,587,161. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. The company has a 50 day moving average price of $214.93 and a two-hundred day moving average price of $213.35. The stock has a market capitalization of $93.08 billion, a PE ratio of 72.25, a PEG ratio of 1.26 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company'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 posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research analyst reports. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the stock a "strong-buy" 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 price objective on the stock. in a research report on Wednesday, July 30th. Bank of America initiated coverage on shares of American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price target on the stock. UBS Group raised their price target on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $244.73.

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.