American Tower Corporation $AMT Stake Cut by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its stake in American Tower Corporation by 11.6%, selling 937,895 shares, and now owns approximately 7.14 million shares valued at $1.56 billion.
• American Tower's stock has recently seen varied analyst ratings, with target prices ranging from $234.00 to $260.00, and a consensus rating of "Moderate Buy."
• CEO Juan Font sold 720 shares of the company at a price of $208.33 per share, reflecting a 2.98% decrease in his position.

Wellington Management Group LLP lowered its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 11.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,146,348 shares of the real estate investment trust's stock after selling 937,895 shares during the quarter. Wellington Management Group LLP owned 1.53% of American Tower worth $1,555,045,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in 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 valued at $13,667,344,000 after buying an additional 434,118 shares in 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 in 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 in the last quarter. 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 in the last quarter. Finally, Invesco Ltd. boosted its stake in American Tower by 0.5% during the first quarter. Invesco Ltd. now owns 5,971,716 shares of the real estate investment trust's stock valued at $1,299,445,000 after buying an additional 30,130 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMT. HSBC cut American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price for the company. in a research note on Wednesday, July 30th. JMP Securities upped their target price on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Raymond James Financial set a $250.00 target price on American Tower and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $245.00 target price (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Two 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $244.73.

American Tower Trading Up 1.3%

Shares of NYSE AMT traded up $2.5840 during mid-day trading on Wednesday, hitting $209.2340. 2,217,515 shares of the company traded hands, compared to its average volume of 2,376,061. The business has a 50 day moving average of $216.98 and a two-hundred day moving average of $212.11. The stock has a market capitalization of $97.97 billion, a price-to-earnings ratio of 76.09, a PEG ratio of 1.18 and a beta of 0.82. 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 1 year low of $172.51 and a 1 year high of $243.56.

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

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value 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 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 this hyperlink. Corporate insiders own 0.17% of the company's stock.

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.