Partners Group Holding AG Has $81.31 Million Stake in American Tower Corporation (NYSE:AMT)

Key Points

• Partners Group Holding AG reduced its stake in American Tower Corporation by 1.3% to 373,669 shares, representing a total value of $81.31 million.
• Analysts have varying price targets for American Tower, with JPMorgan raising its target to $255.00 and HSBC downgrading to $235.00, reflecting a mixed outlook on the stock.
• American Tower's recent quarterly earnings revealed an EPS of $2.60, surpassing estimates, although its revenue was down 9.4% year-over-year at $2.63 billion.

Partners Group Holding AG lowered its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 373,669 shares of the real estate investment trust's stock after selling 4,923 shares during the period. American Tower accounts for approximately 3.4% of Partners Group Holding AG's holdings, making the stock its 4th largest position. Partners Group Holding AG owned about 0.08% of American Tower worth $81,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position 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 acquiring an additional 434,118 shares during the last quarter. Capital Research Global Investors lifted its position in American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after acquiring an additional 3,421,413 shares during the last quarter. Deutsche Bank AG lifted its position in American Tower by 4.0% during the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust's stock worth $1,606,621,000 after acquiring an additional 285,195 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in American Tower by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust's stock worth $1,421,965,000 after acquiring an additional 88,120 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in American Tower by 3.7% during the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust's stock worth $1,335,407,000 after acquiring an additional 220,565 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JMP Securities raised their price objective on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 30th. HSBC downgraded shares of 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. Barclays raised their price objective on shares of American Tower from $223.00 to $246.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price objective on shares of American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial set a $250.00 price target on shares of American Tower and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $244.47.

Insider Buying and Selling

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 shares were 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 directly 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by corporate insiders.

American Tower Stock Up 1.3%

Shares of AMT opened at $206.20 on Friday. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The company has a market cap of $96.55 billion, a P/E ratio of 74.98, a P/E/G ratio of 1.16 and a beta of 0.82. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $217.44 and a two-hundred day simple moving average of $211.67.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data 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. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the business earned $2.79 earnings per share. The company's revenue was down 9.4% on a year-over-year basis. Research analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

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.

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