American Tower Corporation $AMT Stake Raised by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its holdings in shares of American Tower Corporation (NYSE:AMT) by 39.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,144,040 shares of the real estate investment trust’s stock after buying an additional 2,309,627 shares during the period. Price T Rowe Associates Inc. MD’s holdings in American Tower were worth $1,772,144,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. North Capital Inc. acquired a new position in American Tower during the 1st quarter worth $25,000. Hopwood Financial Services Inc. raised its stake 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 purchasing an additional 60 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in American Tower in the fourth quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower in the first quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC grew its position in American Tower by 218.0% in the 1st 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 in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on AMT. UBS Group boosted 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. Bank of America started coverage on shares of American Tower in a research note on Monday, May 19th. They set a “buy” rating and a $255.00 price objective on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. BMO Capital Markets reaffirmed an “outperform” rating and set a $245.00 price target (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Finally, Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

Insider Activity

In other American Tower news, CEO Juan Font sold 720 shares of the business’s stock in a transaction 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 directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by corporate insiders.

American Tower Stock Up 1.3%

NYSE AMT opened at $209.2340 on Thursday. The company has a market capitalization of $97.97 billion, a P/E ratio of 76.09, a PEG ratio of 1.18 and a beta of 0.82. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The company’s 50 day simple moving average is $216.98 and its 200 day simple moving average is $212.11. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business 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 posted $2.79 EPS. The company’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. Equities research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

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.