MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stake in American Tower Corporation $AMT

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of American Tower Corporation (NYSE:AMT) by 79.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 255,810 shares of the real estate investment trust’s stock after acquiring an additional 113,046 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.05% of American Tower worth $55,664,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Elmwood Wealth Management Inc. raised its holdings in American Tower by 2.5% in the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock worth $454,000 after buying an additional 50 shares during the last quarter. 4J Wealth Management LLC raised its holdings in American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 50 shares during the last quarter. TCTC Holdings LLC raised its holdings in American Tower by 15.8% in the first quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 51 shares during the last quarter. Coyle Financial Counsel LLC raised its holdings in American Tower by 2.4% in the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust’s stock worth $487,000 after buying an additional 53 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. raised its holdings in American Tower by 2.9% in the first quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust’s stock worth $416,000 after buying an additional 54 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 1.7%

AMT opened at $198.36 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm has a 50 day moving average price of $213.60 and a 200-day moving average price of $213.33. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The stock has a market capitalization of $92.88 billion, a price-to-earnings ratio of 72.13, a PEG ratio of 1.20 and a beta of 0.86.

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, beating the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion during 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 quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Barclays lifted their target price on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. HSBC cut shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective for the company. in a report on Wednesday, July 30th. Finally, Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.73.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of the business’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 completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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.