APG Asset Management N.V. Acquires 8,409 Shares of American Tower Corporation $AMT

APG Asset Management N.V. lifted its position in shares of American Tower Corporation (NYSE:AMT) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,896 shares of the real estate investment trust’s stock after buying an additional 8,409 shares during the period. APG Asset Management N.V. owned about 0.06% of American Tower worth $60,614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its position in shares of American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 69 shares during the period. Shum Financial Group Inc. boosted its position in shares of American Tower by 3.5% during the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust’s stock worth $913,000 after buying an additional 141 shares during the period. Kovitz Investment Group Partners LLC boosted its position in shares of American Tower by 126.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock worth $21,215,000 after buying an additional 54,360 shares during the period. AEGON ASSET MANAGEMENT UK Plc boosted its position in shares of American Tower by 13.3% during the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust’s stock worth $50,487,000 after buying an additional 27,194 shares during the period. Finally, Georgetown University boosted its position in shares of American Tower by 128.2% during the fourth quarter. Georgetown University now owns 45,654 shares of the real estate investment trust’s stock worth $8,373,000 after buying an additional 25,651 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $211.77 on Friday. The stock has a market cap of $99.16 billion, a P/E ratio of 77.01, a PEG ratio of 1.20 and a beta of 0.82. The stock has a 50 day simple moving average of $216.76 and a 200 day simple moving average of $212.47. 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 Corporation has a 1-year low of $172.51 and a 1-year high of $243.56.

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 for the quarter, topping the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period last year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMT. JPMorgan Chase & Co. increased their price target on American Tower from $250.00 to $255.00 and gave the company 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 company a “strong-buy” rating in a research report on Wednesday, July 30th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. HSBC cut American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a research report on Wednesday, July 30th. Finally, UBS Group increased their price target on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $244.73.

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.