American Tower Corporation (NYSE:AMT) Stock Position Lowered by Trillium Asset Management LLC

Key Points

• Trillium Asset Management LLC reduced its stake in American Tower Corporation by 47.2%, selling 85,558 shares during the first quarter, and now holds 95,609 shares valued at approximately $20.8 million.
• Various hedge funds have adjusted their positions in American Tower, with notable increases from Elmwood Wealth Management and 4J Wealth Management, contributing to institutional investors owning 92.69% of the stock.
• Analysts have raised their price targets for American Tower, with estimates ranging from $243.88 to $260.00, reflecting overall positive sentiment with a consensus rating of "Moderate Buy."

Trillium Asset Management LLC reduced its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 47.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,609 shares of the real estate investment trust's stock after selling 85,558 shares during the period. Trillium Asset Management LLC's holdings in American Tower were worth $20,805,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 69 shares in the last quarter. Shum Financial Group Inc. increased its holdings in 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 valued at $913,000 after buying an additional 141 shares in the last quarter. Mariner LLC increased its holdings in American Tower by 30.9% in the fourth quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock valued at $66,585,000 after buying an additional 85,693 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc increased its holdings in 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 valued at $50,487,000 after buying an additional 27,194 shares in the last quarter. Finally, Georgetown University increased its holdings in American Tower by 128.2% in the fourth quarter. Georgetown University now owns 45,654 shares of the real estate investment trust's stock valued at $8,373,000 after buying an additional 25,651 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Down 0.2%

Shares of AMT traded down $0.33 during mid-day trading on Thursday, reaching $203.82. The company had a trading volume of 2,636,869 shares, compared to its average volume of 2,606,967. The stock has a market cap of $95.44 billion, a price-to-earnings ratio of 74.12, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. The firm has a fifty day simple moving average of $217.81 and a 200-day simple moving average of $211.46. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly 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 company 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 for the quarter was down 9.4% on a year-over-year basis. During the same quarter last year, the business earned $2.79 EPS. On average, sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of research analyst reports. Scotiabank increased their target price on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. UBS Group increased their price target on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Wells Fargo & Company lowered their price target on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, Raymond James Financial set a $250.00 price target on shares of American Tower and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $243.88.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company's stock.

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.