Vident Advisory LLC Buys 5,146 Shares of American Tower Corporation $AMT

Key Points

• Vident Advisory LLC significantly increased its stake in American Tower Corporation by 111.6%, owning 9,757 shares valued at $2,123,000 at the end of the last quarter.
• Hedge funds collectively hold 92.69% of American Tower's stock, with multiple funds adjusting their positions in the company during the first quarter.
• American Tower reported an EPS of $2.60 for the last quarter, beating analysts' expectations, though its quarterly revenue decreased by 9.4% year-over-year.

Vident Advisory LLC increased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 111.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,757 shares of the real estate investment trust's stock after purchasing an additional 5,146 shares during the quarter. Vident Advisory LLC's holdings in American Tower were worth $2,123,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of American Tower by 0.7% during the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust's stock worth $13,667,344,000 after purchasing an additional 434,118 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 valued at $1,772,144,000 after buying an additional 2,309,627 shares during the last quarter. Deutsche Bank AG boosted its stake in American Tower by 4.0% during the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust's stock valued at $1,606,621,000 after buying an additional 285,195 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in American Tower by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust's stock valued at $1,421,965,000 after buying an additional 88,120 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in American Tower by 3.7% during the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust's stock valued at $1,335,407,000 after buying an additional 220,565 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Trading Up 1.7%

Shares of AMT stock traded up $3.27 on Friday, reaching $198.36. 4,126,139 shares of the company's stock were exchanged, compared to its average volume of 2,398,712. American Tower Corporation has a 52 week low of $172.51 and a 52 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. The stock has a market capitalization of $92.88 billion, a PE ratio of 72.13, a P/E/G ratio of 1.20 and a beta of 0.86. The company's fifty day simple moving average is $213.60 and its 200 day simple moving average is $213.33.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the company earned $2.79 EPS. American Tower's quarterly 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, analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed an "outperform" rating and issued a $245.00 price objective (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. UBS Group raised their price objective on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company lowered their price objective on American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Hsbc Global Res lowered American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Barclays raised their price objective on American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $244.73.

Insider Activity

In related 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.