S.E.E.D. Planning Group LLC Has $5.82 Million Stake in American Tower Corporation $AMT

Key Points

• S.E.E.D. Planning Group LLC reduced its stake in American Tower Corporation by 5.5%, holding 26,330 shares valued at approximately $5.82 million.
• American Tower recently experienced mixed analyst ratings, with Barclays raising its target price to $250.00, while HSBC downgraded to a hold rating with a target of $235.00.
• American Tower reported a quarterly EPS of $2.60, slightly exceeding estimates, but showed a 9.4% year-over-year revenue decline.

S.E.E.D. Planning Group LLC decreased its position in American Tower Corporation (NYSE:AMT - Free Report) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,330 shares of the real estate investment trust's stock after selling 1,528 shares during the quarter. American Tower accounts for approximately 1.8% of S.E.E.D. Planning Group LLC's holdings, making the stock its 22nd largest holding. S.E.E.D. Planning Group LLC's holdings in American Tower were worth $5,819,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Elmwood Wealth Management Inc. raised its stake in shares of American Tower by 2.5% in the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock valued at $454,000 after purchasing an additional 50 shares during the period. 4J Wealth Management LLC increased its position in shares of American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock valued at $283,000 after acquiring an additional 50 shares during the last quarter. TCTC Holdings LLC increased its position in shares of American Tower by 15.8% in the first quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock valued at $81,000 after acquiring an additional 51 shares during the last quarter. Coyle Financial Counsel LLC increased its position in shares of American Tower by 2.4% in the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock valued at $487,000 after acquiring an additional 53 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. increased its position in shares of American Tower by 2.9% in the first quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock valued at $416,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Activity

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 transaction of $149,997.60. Following the completion of the sale, the chief executive officer 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 legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMT. Barclays lifted their target price on American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $245.00 target price (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on American Tower and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. Bank of America initiated coverage on American Tower in a research report on Monday, May 19th. They issued a "buy" rating and a $255.00 target price on the stock. Finally, HSBC cut American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target for the company. in a report 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $244.73.

American Tower Trading Down 0.7%

American Tower stock opened at $195.27 on Monday. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $241.97. 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 capitalization of $91.43 billion, a P/E ratio of 71.01, a PEG ratio of 1.20 and a beta of 0.86. The stock has a 50-day simple moving average of $210.83 and a 200 day simple moving average of $213.52.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. During the same quarter last year, the company posted $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. Analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

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.

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