Value Partners Investments Inc. Decreases Stake in American Tower Corporation $AMT

Key Points

• Value Partners Investments Inc. sold 1,353 shares of American Tower Corporation (NYSE:AMT), reducing its holdings by 7.5% to 16,699 shares valued at approximately $3.69 million.
• American Tower reported an EPS of $2.60 for the last quarter, exceeding analysts' estimates and setting a target EPS range of 10.460-10.650 for FY 2025.
• Recent analyst ratings have seen HSBC downgrade American Tower from "buy" to "hold," while other firms have raised price targets, indicating mixed sentiment among analysts.

Value Partners Investments Inc. trimmed its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 7.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,699 shares of the real estate investment trust's stock after selling 1,353 shares during the quarter. Value Partners Investments Inc.'s holdings in American Tower were worth $3,691,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in shares of American Tower in the 1st quarter worth approximately $991,525,000. Price T Rowe Associates Inc. MD boosted its position in shares of American Tower by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock worth $1,772,144,000 after buying an additional 2,309,627 shares during the period. GAMMA Investing LLC raised its holdings in shares of American Tower by 23,627.3% in the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock valued at $370,346,000 after buying an additional 1,694,784 shares during the period. Bessemer Group Inc. lifted its stake in American Tower by 272.0% during the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust's stock worth $247,390,000 after acquiring an additional 831,247 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in American Tower in the 1st quarter valued at about $162,127,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AMT shares. Bank of America started coverage on shares of American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price objective for the company. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. UBS Group lifted their target price on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Hsbc Global Res cut American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a "strong-buy" rating in a research note 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 issued a Hold rating to the company's stock. According to data from MarketBeat, American Tower currently has a consensus rating of "Moderate Buy" and an average price target of $244.73.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the firm's stock in a transaction 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 transaction, the chief executive officer owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company's stock.

American Tower Price Performance

AMT stock traded up $2.11 on Tuesday, reaching $194.61. 3,253,754 shares of the company's stock were exchanged, compared to its average volume of 2,780,560. 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 firm has a market cap of $91.13 billion, a PE ratio of 70.77, a P/E/G ratio of 1.19 and a beta of 0.86. The stock has a fifty day moving average of $209.75 and a 200-day moving average of $213.29.

American Tower (NYSE:AMT - Get Free Report) last released 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 net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the firm earned $2.79 earnings per share. The firm's revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Company 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.