American Tower Corporation $AMT Shares Purchased by Harber Asset Management LLC

Harber Asset Management LLC boosted its position in American Tower Corporation (NYSE:AMT) by 40.6% in the first quarter, Holdings Channel.com reports. The firm owned 114,407 shares of the real estate investment trust’s stock after acquiring an additional 33,016 shares during the quarter. American Tower makes up about 8.9% of Harber Asset Management LLC’s holdings, making the stock its largest position. Harber Asset Management LLC’s holdings in American Tower were worth $24,895,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMT. Nuveen LLC acquired a new stake in shares of American Tower during the 1st quarter valued at approximately $991,525,000. Price T Rowe Associates Inc. MD lifted its position in shares of 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 valued at $1,772,144,000 after acquiring an additional 2,309,627 shares during the period. GAMMA Investing LLC lifted its position in shares of 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 valued at $370,346,000 after acquiring an additional 1,694,784 shares during the period. Bessemer Group Inc. lifted its position in shares of 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 valued at $247,390,000 after acquiring an additional 831,247 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of American Tower by 490.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock valued at $141,612,000 after acquiring an additional 540,648 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the business’s stock in a transaction 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMT. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the company a “strong-buy” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada lifted their price objective on American Tower from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. UBS Group lifted their price objective on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company cut their price objective on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Two 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 company’s stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

American Tower Stock Up 0.6%

AMT stock opened at $203.70 on Friday. The stock has a market capitalization of $95.38 billion, a P/E ratio of 74.07, a PEG ratio of 1.25 and a beta of 0.82. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The company has a 50 day moving average price of $215.77 and a two-hundred day moving average price of $213.02.

American Tower (NYSE:AMT) last released 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 firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Company 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.