American Tower Corporation $AMT Shares Bought by BROOKFIELD Corp ON

BROOKFIELD Corp ON boosted its holdings in American Tower Corporation (NYSE:AMT) by 50.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 478,559 shares of the real estate investment trust’s stock after buying an additional 159,449 shares during the quarter. American Tower accounts for 0.6% of BROOKFIELD Corp ON’s holdings, making the stock its 23rd largest position. BROOKFIELD Corp ON’s holdings in American Tower were worth $104,134,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. North Capital Inc. bought a new stake in shares of American Tower during the 1st quarter worth $25,000. Hopwood Financial Services Inc. boosted its stake 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 acquiring an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Tower during the 1st quarter worth $31,000. Lowe Wealth Advisors LLC boosted its stake 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 acquiring an additional 109 shares in the last quarter. Finally, City Holding Co. acquired a new stake in American Tower during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on AMT shares. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. BMO Capital Markets restated an “outperform” rating and set a $245.00 price objective (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. UBS Group boosted their target price on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Wells Fargo & Company cut 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 note on Wednesday, July 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $244.73.

Insider Activity

In other American Tower news, CEO Juan Font sold 720 shares of American Tower 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 owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

American Tower Stock Performance

AMT stock opened at $196.44 on Friday. The firm has a 50 day simple moving average of $211.36 and a 200 day simple moving average of $213.42. The stock has a market cap of $91.98 billion, a P/E ratio of 71.43, a P/E/G ratio of 1.20 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 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 (NYSE:AMT) last issued 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 during 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 company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter last year, the business 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 fiscal year.

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.