American Tower Corporation $AMT Shares Bought by Voya Investment Management LLC

Voya Investment Management LLC grew its stake in shares of American Tower Corporation (NYSE:AMT) by 0.2% during the first quarter, Holdings Channel reports. The firm owned 702,486 shares of the real estate investment trust’s stock after purchasing an additional 1,537 shares during the period. Voya Investment Management LLC’s holdings in American Tower were worth $152,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new stake in American Tower during the first quarter worth approximately $25,000. Hopwood Financial Services Inc. grew its position in shares of American Tower by 100.0% during the first 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 during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of American Tower during the first quarter worth approximately $31,000. Lowe Wealth Advisors LLC grew its position in shares of American Tower by 218.0% during the first 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 during the last quarter. Finally, City Holding Co. purchased a new position in shares of American Tower during the first quarter worth approximately $39,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction 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 transaction, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research reports. Wells Fargo & Company lowered 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. UBS Group lifted their price objective on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Bank of America assumed coverage on American Tower in a report on Monday, May 19th. They issued a “buy” rating and a $255.00 target price for the company. Finally, Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Two 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $244.73.

American Tower Trading Up 1.4%

NYSE:AMT opened at $196.44 on Friday. The company has a market capitalization of $91.98 billion, a PE ratio of 71.43, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. 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 52-week low of $172.51 and a 52-week high of $241.97. The stock has a fifty day simple moving average of $211.36 and a 200-day simple moving average of $213.42.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business’s revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities research analysts expect 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.