Sienna Gestion Has $836,000 Holdings in American Tower Corporation $AMT

Key Points

• Sienna Gestion has reduced its holdings in American Tower Corporation by 35.6% in Q1, resulting in ownership of 3,954 shares valued at approximately $836,000.
• Several large investors, including North Capital Inc. and Hopwood Financial Services Inc., have adjusted their positions in American Tower, with hedge funds owning 92.69% of the stock.
• Analysts project a mixed outlook for American Tower, with price targets ranging from $230.00 to $260.00, and a consensus rating of "Moderate Buy."

Sienna Gestion lowered its stake in American Tower Corporation (NYSE:AMT - Free Report) by 35.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,954 shares of the real estate investment trust's stock after selling 2,182 shares during the period. Sienna Gestion's holdings in American Tower were worth $836,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its position in shares of American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after buying an additional 69 shares during the last quarter. Shum Financial Group Inc. lifted its position in shares of American Tower by 3.5% in the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after buying an additional 141 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its position in shares of American Tower by 13.3% in the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust's stock worth $50,487,000 after buying an additional 27,194 shares during the last quarter. Georgetown University lifted its position in shares of American Tower by 128.2% in the fourth quarter. Georgetown University now owns 45,654 shares of the real estate investment trust's stock worth $8,373,000 after buying an additional 25,651 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. lifted its position in shares of American Tower by 35.3% in the first quarter. Adams Diversified Equity Fund Inc. now owns 91,200 shares of the real estate investment trust's stock worth $19,845,000 after buying an additional 23,800 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the company'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 value of $149,997.60. Following the sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. HSBC lowered American Tower from a "buy" rating to a "hold" rating and set a $235.00 price objective on the stock. in a research note on Wednesday, July 30th. Raymond James Financial set a $250.00 price objective on American Tower and gave the stock a "strong-buy" rating in a research note on Wednesday, July 30th. UBS Group lifted 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. The Goldman Sachs Group reiterated a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. Finally, Barclays boosted their price target on American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $244.73.

American Tower Price Performance

Shares of AMT stock traded up $2.5840 during trading hours on Wednesday, hitting $209.2340. The company had a trading volume of 2,217,515 shares, compared to its average volume of 2,376,061. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The firm has a market capitalization of $97.97 billion, a price-to-earnings ratio of 76.09, a PEG ratio of 1.18 and a beta of 0.82. The firm's fifty day moving average is $216.98 and its 200 day moving average is $212.11. 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 (NYSE:AMT - Get Free Report) last released its quarterly earnings data 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. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the company posted $2.79 EPS. The company's revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal 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.