Werlinich Asset Management LLC Cuts Holdings in American Tower Corporation $AMT

Werlinich Asset Management LLC decreased its position in shares of American Tower Corporation (NYSE:AMT) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,435 shares of the real estate investment trust’s stock after selling 125 shares during the period. American Tower makes up approximately 1.0% of Werlinich Asset Management LLC’s investment portfolio, making the stock its 28th biggest position. Werlinich Asset Management LLC’s holdings in American Tower were worth $1,864,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. North Capital Inc. purchased a new position in shares of American Tower during the first quarter valued at about $25,000. Hopwood Financial Services Inc. grew its position in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in American Tower in the first quarter worth about $31,000. Lowe Wealth Advisors LLC grew its position in American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 109 shares in the last quarter. Finally, City Holding Co. purchased a new position in American Tower in the first quarter worth about $39,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on AMT shares. 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 report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price target on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Raymond James Financial set a $250.00 price target on American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on American Tower from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

American Tower Stock Performance

Shares of AMT stock opened at $194.61 on Wednesday. The firm has a market cap of $91.13 billion, a price-to-earnings ratio of 70.77, a PEG ratio of 1.19 and a beta of 0.86. The company’s 50 day moving average is $209.75 and its 200 day moving average is $213.29. 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 52-week low of $172.51 and a 52-week high of $241.46.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. American Tower’s revenue was down 9.4% compared to the same quarter last year. During the same period last year, the company posted $2.79 earnings per share. 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 fiscal year.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of American Tower 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 transaction, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by insiders.

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.