UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Decreases Stake in American Tower Corporation $AMT

Key Points

• UBS AM significantly decreased its stake in American Tower Corporation by 81.7%, selling approximately 3.5 million shares and retaining just 793,701 shares, worth an estimated $172.7 million.
• American Tower reported earnings of $2.60 per share for the last quarter, surpassing analysts' expectations, though its revenue declined by 9.4% year-over-year.
• Recent analyst activity included downgrades to a "hold" rating from HSBC Global Research and reduced price targets from several firms, reflecting mixed sentiment concerning American Tower's stock performance.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC reduced its stake in American Tower Corporation (NYSE:AMT - Free Report) by 81.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 793,701 shares of the real estate investment trust's stock after selling 3,550,876 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.17% of American Tower worth $172,709,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. North Capital Inc. purchased a new position in shares of American Tower in the 1st quarter valued at approximately $25,000. Hopwood Financial Services Inc. raised its position in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of American Tower in the 1st quarter valued at approximately $31,000. Lowe Wealth Advisors LLC raised its position in shares of American Tower by 218.0% in the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 109 shares during the last quarter. Finally, City Holding Co. purchased a new position in shares of American Tower in the 1st quarter valued at approximately $39,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

NYSE:AMT opened at $196.44 on Friday. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $91.98 billion, a price-to-earnings ratio of 71.43, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. The company has a 50 day moving average price of $211.36 and a 200-day moving average price of $213.42. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $241.97.

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 for the quarter, beating the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion during 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%. The business's quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities research analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMT. Hsbc Global Res lowered shares of American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Bank of America assumed coverage on shares of American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price target for the company. Wells Fargo & Company reduced their price target on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. HSBC lowered shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target for the company. in a research report on Wednesday, July 30th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $245.00 price target (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $244.73.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares of the company's stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

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.

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