Credit Agricole S A Sells 4,080 Shares of American Tower Corporation $AMT

Credit Agricole S A decreased its position in American Tower Corporation (NYSE:AMT) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 322,685 shares of the real estate investment trust’s stock after selling 4,080 shares during the quarter. Credit Agricole S A owned about 0.07% of American Tower worth $70,216,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMT. North Capital Inc. acquired a new position in shares of American Tower in the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. grew its position in shares of 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 valued at $26,000 after purchasing an additional 60 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower in the fourth quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower in the first quarter valued at approximately $31,000. Finally, Lowe Wealth Advisors LLC grew its position in shares of 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 valued at $35,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $202.95 on Tuesday. The firm’s 50-day moving average price is $217.24 and its 200-day moving average price is $212.17. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56. The firm has a market capitalization of $95.03 billion, a P/E ratio of 73.80, a P/E/G ratio of 1.17 and a beta of 0.82. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT) last posted its earnings results 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. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.79 earnings per share. Equities research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. BMO Capital Markets reiterated an “outperform” rating and issued a $245.00 price target (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. JMP Securities lifted their price target on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 30th. Finally, Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $244.73.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by insiders.

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.