Uniplan Investment Counsel Inc. Trims Position in American Tower Corporation $AMT

Key Points

• Uniplan Investment Counsel Inc. reduced its stake in American Tower Corporation by 6.8%, selling 18,511 shares during the first quarter, leaving it with 255,200 shares that account for 5.4% of its portfolio.
• American Tower's CEO, Juan Font, sold 720 shares on July 31st, decreasing his ownership by 2.98%, retaining a total of 23,425 shares valued at approximately $4.88 million.
• Despite a 9.4% decline in quarterly revenue year-over-year, American Tower reported an EPS of $2.60, slightly exceeding analyst expectations of $2.59.

Uniplan Investment Counsel Inc. lessened its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 255,200 shares of the real estate investment trust's stock after selling 18,511 shares during the period. American Tower accounts for approximately 5.4% of Uniplan Investment Counsel Inc.'s portfolio, making the stock its 2nd largest holding. Uniplan Investment Counsel Inc. owned approximately 0.05% of American Tower worth $55,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Elmwood Wealth Management Inc. lifted its holdings in shares of American Tower by 2.5% in the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock valued at $454,000 after purchasing an additional 50 shares in the last quarter. 4J Wealth Management LLC lifted its holdings in shares of American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock valued at $283,000 after purchasing an additional 50 shares in the last quarter. TCTC Holdings LLC lifted its holdings in shares of American Tower by 15.8% in the first quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock valued at $81,000 after purchasing an additional 51 shares in the last quarter. Coyle Financial Counsel LLC raised its position in shares of American Tower by 2.4% in the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock valued at $487,000 after buying an additional 53 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. raised its position in shares of American Tower by 2.9% in the first quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock valued at $416,000 after buying an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AMT shares. UBS Group boosted their price objective 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. Royal Bank Of Canada boosted their price objective on shares of American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. BMO Capital Markets reissued an "outperform" rating and issued a $245.00 price objective (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Finally, Bank of America started coverage on shares of American Tower in a research report on Monday, May 19th. They issued a "buy" rating and a $255.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $244.73.

American Tower Stock Up 0.5%

AMT traded up $0.89 during trading hours on Tuesday, reaching $194.53. 3,383,691 shares of the stock traded hands, compared to its average volume of 2,670,523. 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 market cap of $91.09 billion, a price-to-earnings ratio of 70.74, a PEG ratio of 1.20 and a beta of 0.86. 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's fifty day simple moving average is $212.45 and its two-hundred day simple moving average is $213.53.

American Tower (NYSE:AMT - Get Free Report) last issued 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. The firm 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%. The firm's revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 transaction of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% 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.