Groupama Asset Managment Acquires 1,503 Shares of American Tower Corporation $AMT

Groupama Asset Managment grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,975 shares of the real estate investment trust’s stock after acquiring an additional 1,503 shares during the period. Groupama Asset Managment’s holdings in American Tower were worth $20,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of AMT. Nuveen LLC bought a new position in American Tower in the 1st quarter worth $991,525,000. GAMMA Investing LLC boosted its holdings in 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 buying an additional 1,694,784 shares during the period. Bessemer Group Inc. boosted its holdings in 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 buying an additional 831,247 shares during the period. Northern Trust Corp boosted its holdings in American Tower by 10.5% in the 4th quarter. Northern Trust Corp now owns 5,525,180 shares of the real estate investment trust’s stock worth $1,013,373,000 after buying an additional 524,089 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in American Tower by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,410,707 shares of the real estate investment trust’s stock worth $1,177,370,000 after buying an additional 488,218 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 1.5%

Shares of NYSE AMT opened at $202.95 on Tuesday. The firm’s 50-day moving average price is $217.24 and its 200-day moving average price is $212.17. 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 stock has a market capitalization of $95.03 billion, a price-to-earnings ratio of 73.80, a P/E/G ratio of 1.17 and a beta of 0.82. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business’s revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.79 EPS. On average, equities research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Insider Activity

In related news, CEO Juan Font sold 720 shares of the 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 sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMT shares. Royal Bank Of Canada upped their target price on shares of American Tower from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. HSBC downgraded shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price for the company. in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. BMO Capital Markets reissued 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. Finally, JMP Securities increased their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

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.