Sapient Capital LLC Buys New Shares in American Tower Corporation $AMT

Sapient Capital LLC bought a new stake in American Tower Corporation (NYSE:AMT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,912 shares of the real estate investment trust's stock, valued at approximately $423,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of American Tower by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust's stock valued at $13,667,344,000 after purchasing an additional 434,118 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of American Tower by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock valued at $1,772,144,000 after purchasing an additional 2,309,627 shares during the period. Deutsche Bank AG raised its holdings in shares of 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 valued at $1,606,621,000 after purchasing an additional 285,195 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 valued at $1,421,965,000 after purchasing an additional 88,120 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of 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 valued at $1,335,407,000 after purchasing an additional 220,565 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AMT shares. Raymond James Financial set a $250.00 target price on American Tower and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. 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 report on Wednesday, July 30th. Royal Bank Of Canada upped their target price on shares of American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. UBS Group increased their price objective 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, HSBC downgraded American Tower from a "buy" rating to a "hold" rating and set a $235.00 price objective for the company. in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $244.73.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

American Tower Stock Up 1.2%

American Tower stock opened at $197.03 on Thursday. The firm has a market capitalization of $92.26 billion, a price-to-earnings ratio of 71.65, a P/E/G ratio of 1.20 and a beta of 0.86. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $240.28. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm has a 50 day simple moving average of $209.26 and a 200 day simple moving average of $213.18.

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 for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company's quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

About American Tower

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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