Acorns Advisers LLC Buys 289 Shares of American Tower Corporation $AMT

Acorns Advisers LLC boosted its stake in shares of American Tower Corporation (NYSE:AMT) by 26.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,401 shares of the real estate investment trust’s stock after purchasing an additional 289 shares during the quarter. Acorns Advisers LLC’s holdings in American Tower were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in AMT. Nuveen LLC acquired a new stake in shares of American Tower in the 1st quarter worth $991,525,000. Price T Rowe Associates Inc. MD boosted its position in shares of American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after purchasing an additional 2,309,627 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of American Tower by 23,627.3% in the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust’s stock worth $370,346,000 after purchasing an additional 1,694,784 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of American Tower by 272.0% in the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock worth $247,390,000 after purchasing an additional 831,247 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of American Tower in the 1st quarter worth $162,127,000. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the business’s 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 completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock opened at $194.53 on Wednesday. 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 Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The business has a 50-day moving average price of $212.45 and a 200 day moving average price of $213.53. The firm has a market cap of $91.09 billion, a PE ratio of 70.74, a P/E/G ratio of 1.20 and a beta of 0.86.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the business earned $2.79 EPS. American Tower’s revenue for the quarter was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Sell-side analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of recent analyst reports. Raymond James Financial set a $250.00 price objective on American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Barclays lifted their price target on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Bank of America assumed coverage on American Tower in a research report on Monday, May 19th. They set a “buy” rating and a $255.00 price target for the company. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.