Voya Investment Management LLC Increases Stock Position in American Tower Corporation $AMT

Key Points

• Voya Investment Management LLC has increased its stake in American Tower Corporation by 0.2%, now owning 702,486 shares valued at approximately $152.9 million.
• American Tower's stock recently experienced a price rise of 1.4%, with current trading at $196.44 and a market cap of $91.98 billion.
• The company reported earnings per share of $2.60, exceeding expectations, but noted a 9.4% decrease in year-over-year revenue for the last quarter.

Voya Investment Management LLC boosted its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 702,486 shares of the real estate investment trust's stock after buying an additional 1,537 shares during the quarter. Voya Investment Management LLC owned 0.15% of American Tower worth $152,861,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AMT. Nuveen LLC purchased a new position in American Tower during the first quarter worth about $991,525,000. 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 worth $1,772,144,000 after buying an additional 2,309,627 shares during the period. GAMMA Investing LLC lifted its position in shares of American Tower by 23,627.3% during the first quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock worth $370,346,000 after purchasing an additional 1,694,784 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of American Tower by 272.0% during the first quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust's stock worth $247,390,000 after purchasing an additional 831,247 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of American Tower during the first quarter worth about $162,127,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Up 1.4%

Shares of NYSE:AMT opened at $196.44 on Friday. The firm's 50 day moving average price is $211.36 and its 200 day moving average price is $213.42. The stock 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. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $241.97. 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 (NYSE:AMT - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations 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 last year, the company earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities research analysts predict 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 shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMT has been the topic of several research reports. UBS Group increased their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. HSBC cut shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target on the stock. in a research report on Wednesday, July 30th. Barclays increased their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Wells Fargo & Company reduced their price target on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Finally, Raymond James Financial set a $250.00 price target on shares of American Tower and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $244.73.

American Tower 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.

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