American Tower Corporation $AMT Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD grew its stake in shares of American Tower Corporation (NYSE:AMT) by 39.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 owned 1.74% of American Tower worth $1,772,144,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AMT. Elmwood Wealth Management Inc. grew its stake in American Tower by 2.5% during the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock valued at $454,000 after purchasing an additional 50 shares in the last quarter. 4J Wealth Management LLC raised its position in shares of American Tower by 4.0% in the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust’s stock valued at $283,000 after purchasing an additional 50 shares in the last quarter. TCTC Holdings LLC boosted its stake in shares of American Tower by 15.8% during the 1st quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 51 shares during the last quarter. Coyle Financial Counsel LLC grew its position in shares of American Tower by 2.4% during 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 in the last quarter. Finally, Fortitude Advisory Group L.L.C. grew its position in shares of American Tower by 2.9% during 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 in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of NYSE:AMT opened at $209.2340 on Thursday. 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 fifty-two week low of $172.51 and a fifty-two week high of $243.56. The firm has a 50-day simple moving average of $216.98 and a 200 day simple moving average of $212.11. The company has a market cap of $97.97 billion, a PE ratio of 76.09, a P/E/G ratio of 1.18 and a beta of 0.82.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the company posted $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. On average, sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

Analysts Set New Price Targets

AMT has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Bank of America assumed coverage on shares of American Tower in a research note on Monday, May 19th. They issued a “buy” rating and a $255.00 target price on the stock. UBS Group lifted their price target on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $245.00 target price (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $244.73.

Insider Activity

In related news, CEO Juan Font sold 720 shares of the business’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 transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

About American Tower

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.