Van Lanschot Kempen Investment Management N.V. Acquires 3,436 Shares of American Tower Corporation $AMT

Key Points

• Van Lanschot Kempen Investment Management N.V. increased its holdings in American Tower Corporation by 8.0%, owning 46,579 shares valued at approximately $10.14 million.
• American Tower's quarterly earnings beat analysts' expectations, reporting $2.60 earnings per share and generating $2.63 billion in revenue, though down 9.4% year-over-year.
• Analysts have set varying price targets for American Tower, with a consensus average target of $244.73 and ratings ranging from "Strong Buy" to "Hold."

Van Lanschot Kempen Investment Management N.V. grew its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 8.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 46,579 shares of the real estate investment trust's stock after buying an additional 3,436 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in American Tower were worth $10,136,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. North Capital Inc. acquired a new position in shares of American Tower during the first quarter valued at about $25,000. Hopwood Financial Services Inc. raised its position in shares of American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower during the first quarter valued at about $31,000. Lowe Wealth Advisors LLC raised its position in shares of American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares during the last quarter. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of American Tower during the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Activity 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 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMT. JPMorgan Chase & Co. increased their price target on shares of American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Bank of America began coverage on shares of American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Royal Bank Of Canada raised their price objective on shares of American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Two equities 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. According to MarketBeat, American Tower currently has an average rating of "Moderate Buy" and an average price target of $244.73.

American Tower Price Performance

Shares of AMT traded down $1.21 during mid-day trading on Monday, hitting $210.67. 431,793 shares of the company traded hands, compared to its average volume of 2,580,439. American Tower Corporation has a one year low of $172.51 and a one year 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. The business has a 50-day moving average of $216.76 and a 200 day moving average of $212.80. The stock has a market capitalization of $98.65 billion, a price-to-earnings ratio of 76.61, a PEG ratio of 1.21 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. During the same period in the prior year, the firm earned $2.79 earnings per share. American Tower's revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts expect that American Tower Corporation will post 10.14 earnings per share 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.