Swedbank AB Sells 35,335 Shares of American Tower Corporation $AMT

Swedbank AB trimmed its stake in American Tower Corporation (NYSE:AMT) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 577,962 shares of the real estate investment trust’s stock after selling 35,335 shares during the period. Swedbank AB owned 0.12% of American Tower worth $125,765,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in American Tower by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock worth $13,667,344,000 after buying an additional 434,118 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of American Tower by 39.6% in the first 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 purchasing an additional 2,309,627 shares during the period. Deutsche Bank AG increased its holdings in shares of American Tower by 4.0% in the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock valued at $1,606,621,000 after purchasing an additional 285,195 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of American Tower by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock valued at $1,421,965,000 after purchasing an additional 88,120 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of American Tower by 3.7% in the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust’s stock valued at $1,335,407,000 after purchasing an additional 220,565 shares during the period. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research reports. Royal Bank Of Canada increased their price objective on American Tower from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. UBS Group upped their target price on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Finally, HSBC lowered American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

American Tower Stock Down 0.7%

American Tower stock opened at $195.27 on Friday. The firm has a market cap of $91.43 billion, a price-to-earnings ratio of 71.01, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $241.97. The business’s 50-day moving average price is $210.83 and its 200 day moving average price is $213.37. 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 (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 firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.American Tower’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period last year, the company earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred 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 approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.17% 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.