Silicon Valley Capital Partners Sells 55 Shares of American Tower Corporation $AMT

Silicon Valley Capital Partners reduced its position in American Tower Corporation (NYSE:AMT) by 5.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,038 shares of the real estate investment trust’s stock after selling 55 shares during the period. Silicon Valley Capital Partners’ holdings in American Tower were worth $224,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AMT. Nuveen LLC bought a new position in American Tower during the 1st quarter valued at $991,525,000. Price T Rowe Associates Inc. MD increased its position in shares of American Tower by 39.6% during the 1st 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 purchasing an additional 2,309,627 shares during the last quarter. GAMMA Investing LLC increased its position in shares of American Tower by 23,627.3% during the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust’s stock valued at $370,346,000 after purchasing an additional 1,694,784 shares during the last quarter. Bessemer Group Inc. increased its position in shares of American Tower by 272.0% during the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock valued at $247,390,000 after purchasing an additional 831,247 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in American Tower in the 1st quarter worth about $162,127,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMT. BMO Capital Markets restated 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. HSBC cut American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective on the stock. in a research note on Wednesday, July 30th. Barclays boosted 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. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Finally, Bank of America assumed coverage on American Tower in a research note on Monday, May 19th. They issued a “buy” rating and a $255.00 price objective on the stock. Two 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 stock. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the company’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 value of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

American Tower Stock Down 0.4%

Shares of NYSE AMT opened at $193.77 on Thursday. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $241.97. 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 firm has a market capitalization of $90.73 billion, a price-to-earnings ratio of 70.46, a PEG ratio of 1.20 and a beta of 0.86. The business has a 50-day moving average of $211.86 and a 200-day moving average of $213.39.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS 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 company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the firm earned $2.79 earnings per share. American Tower’s revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Sell-side 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.