Swedbank AB Sells 35,335 Shares of American Tower Corporation $AMT

Key Points

• Swedbank AB sold 35,335 shares of American Tower Corporation, reducing its stake by 5.8%, and currently holds 577,962 shares valued at approximately $125.76 million.
• Several institutional investors have increased their stakes in American Tower, with Price T Rowe Associates raising theirs by **39.6%**, while Vanguard Group and Deutsche Bank also expanded their holdings.
• The stock has received mixed ratings from analysts, with Royal Bank of Canada increasing its price target to $260, while HSBC downgraded it from "strong-buy" to "hold".

Swedbank AB lessened its position in American Tower Corporation (NYSE:AMT - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 577,962 shares of the real estate investment trust's stock after selling 35,335 shares during the quarter. Swedbank AB owned approximately 0.12% of American Tower worth $125,765,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BROOKFIELD Corp ON boosted its position in shares of American Tower by 50.0% in the first quarter. BROOKFIELD Corp ON now owns 478,559 shares of the real estate investment trust's stock worth $104,134,000 after buying an additional 159,449 shares during the period. 1248 Management LLC purchased a new stake in American Tower in the 1st quarter worth about $58,000. eCIO Inc. acquired a new stake in American Tower during the 1st quarter worth about $168,000. Jones Financial Companies Lllp grew its stake in American Tower by 18.3% during the 1st quarter. Jones Financial Companies Lllp now owns 170,988 shares of the real estate investment trust's stock valued at $37,003,000 after acquiring an additional 26,507 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of American Tower in the 1st quarter valued at about $32,303,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMT. Bank of America initiated coverage on shares of American Tower in a research note on Monday, May 19th. They issued a "buy" rating and a $255.00 price objective on the stock. BMO Capital Markets reiterated an "outperform" rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Royal Bank Of Canada lifted their price objective on American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Hsbc Global Res lowered American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company reduced their price target on American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $244.73.

Insider Buying and Selling at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the firm'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 owned 23,425 shares of the company's stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.17% of the company's stock.

American Tower Stock Performance

AMT stock traded up $2.11 during midday trading on Tuesday, hitting $194.61. 3,253,754 shares of the company traded hands, compared to its average volume of 2,648,615. The business has a 50 day simple moving average of $210.27 and a 200-day simple moving average of $213.42. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $241.46. The stock has a market capitalization of $91.13 billion, a price-to-earnings ratio of 70.77, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. American Tower's revenue was down 9.4% compared to the same quarter last year. During the same period last year, the business posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities research analysts predict that American Tower Corporation will post 10.14 earnings per share 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.