SVB Wealth LLC Lowers Stock Holdings in American Tower Corporation $AMT

Key Points

• SVB Wealth LLC has reduced its stake in American Tower Corporation by 31.8%, holding 6,693 shares worth approximately $1.46 million after selling 3,120 shares during the first quarter.
• CEO Juan Font sold 720 shares of American Tower stock for nearly $150,000, representing a 2.98% decrease in his ownership of the company's shares.
• Brokerages have mixed outlooks for American Tower, with price targets ranging from $230 to $260, and an overall average rating of "Moderate Buy."

SVB Wealth LLC lowered its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 31.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,693 shares of the real estate investment trust's stock after selling 3,120 shares during the quarter. SVB Wealth LLC's holdings in American Tower were worth $1,457,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. North Capital Inc. purchased a new position in American Tower during the first quarter worth approximately $25,000. Hopwood Financial Services Inc. boosted its position in American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in American Tower during the first quarter worth approximately $31,000. Lowe Wealth Advisors LLC boosted its position in American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 109 shares in the last quarter. Finally, Minot DeBlois Advisors LLC purchased a new position in American Tower during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Buying and Selling

In related news, CEO Juan Font sold 720 shares of American Tower 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 transaction, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMT. UBS Group increased their price target on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. 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. Royal Bank Of Canada raised their target price on American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Bank of America began 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, Wells Fargo & Company decreased their target price on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Two research 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 stock currently has an average rating of "Moderate Buy" and an average target price of $244.73.

American Tower Stock Performance

Shares of American Tower stock opened at $211.77 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 $99.16 billion, a price-to-earnings ratio of 77.01, a PEG ratio of 1.21 and a beta of 0.82. 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 business's 50 day moving average price is $216.76 and its 200 day moving average price is $212.64.

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, 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 firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the business posted $2.79 earnings per share. The firm'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, research analysts predict that American Tower Corporation will post 10.14 EPS for the current 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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