Harvest Portfolios Group Inc. Raises Stake in American Tower Corporation $AMT

Harvest Portfolios Group Inc. grew its stake in shares of American Tower Corporation (NYSE:AMT) by 9.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,438 shares of the real estate investment trust’s stock after purchasing an additional 868 shares during the period. Harvest Portfolios Group Inc.’s holdings in American Tower were worth $2,271,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. North Capital Inc. purchased a new stake in shares of American Tower during the 1st quarter worth $25,000. Hopwood Financial Services Inc. boosted its position in shares of American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in shares of American Tower during the 4th quarter worth $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower during the 1st quarter worth $31,000. Finally, Lowe Wealth Advisors LLC boosted its position in shares of American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 109 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

American Tower Price Performance

NYSE:AMT opened at $207.61 on Wednesday. The firm has a market cap of $97.21 billion, a price-to-earnings ratio of 75.49, a price-to-earnings-growth ratio of 1.20 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. The company’s 50-day moving average is $216.53 and its two-hundred day moving average is $212.92. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on AMT shares. Wells Fargo & Company decreased their target price on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Hsbc Global Res lowered shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, Barclays boosted their price objective on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

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.