Atwood & Palmer Inc. Sells 189 Shares of American Tower Corporation $AMT

Atwood & Palmer Inc. reduced its holdings in shares of American Tower Corporation (NYSE:AMT) by 34.2% in the second quarter, HoldingsChannel.com reports. The fund owned 364 shares of the real estate investment trust’s stock after selling 189 shares during the quarter. Atwood & Palmer Inc.’s holdings in American Tower were worth $80,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AMT. Nuveen LLC acquired a new stake in American Tower during the 1st quarter worth about $991,525,000. Price T Rowe Associates Inc. MD grew its holdings in 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 worth $1,772,144,000 after acquiring an additional 2,309,627 shares during the period. GAMMA Investing LLC grew its holdings in 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 worth $370,346,000 after acquiring an additional 1,694,784 shares during the period. Bessemer Group Inc. grew its holdings in 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 worth $247,390,000 after acquiring an additional 831,247 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in American Tower during the 1st quarter worth about $162,127,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMT. Wells Fargo & Company decreased their price target on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. BMO Capital Markets reiterated an “outperform” rating and set a $245.00 price target (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on American Tower and gave the company a “strong-buy” rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their target price on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

American Tower Stock Performance

Shares of American Tower stock opened at $195.27 on Monday. American Tower Corporation has a one year low of $172.51 and a one year high of $241.97. The firm has a market capitalization of $91.43 billion, a price-to-earnings ratio of 71.01, a PEG ratio of 1.20 and a beta of 0.86. The business has a 50-day simple moving average of $210.83 and a 200 day simple moving average of $213.52. 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 results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. The business 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 company’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated 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 approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% 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.