Resolution Capital Ltd Makes New Investment in American Tower Corporation $AMT

Key Points

• Resolution Capital Ltd has acquired 334,127 shares of American Tower Corporation valued at approximately $72.7 million, making it the 17th largest holding in their portfolio.
• A number of analysts have issued ratings for American Tower, with targets ranging from $230 to $255, indicating a generally positive outlook on the stock's performance.
• American Tower reported earnings of $2.60 per share, exceeding expectations, but indicated a 9.4% year-over-year revenue decline for the quarter.

Resolution Capital Ltd acquired a new position in American Tower Corporation (NYSE:AMT - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 334,127 shares of the real estate investment trust's stock, valued at approximately $72,706,000. American Tower accounts for approximately 1.4% of Resolution Capital Ltd's portfolio, making the stock its 17th largest holding. Resolution Capital Ltd owned approximately 0.07% of American Tower at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AMT. North Capital Inc. acquired a new stake in shares of American Tower in the 1st quarter worth about $25,000. Hopwood Financial Services Inc. increased its holdings 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 acquiring an additional 60 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower in the 4th quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower in the 1st quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC increased its holdings 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 worth $35,000 after acquiring an additional 109 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Wells Fargo & Company lowered their target price on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Bank of America initiated coverage on shares of American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 target price on the stock. Finally, Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $244.73.

American Tower Stock Performance

NYSE:AMT opened at $198.36 on Friday. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The company has a 50-day moving average of $213.60 and a 200-day moving average of $213.33. The firm has a market cap of $92.88 billion, a price-to-earnings ratio of 72.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business's revenue for the quarter was down 9.4% on a year-over-year basis. During the same period last year, the company posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares of the company's stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by company insiders.

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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