Jones Financial Companies Lllp Sells 50,068 Shares of American Tower Corporation $AMT

Jones Financial Companies Lllp decreased its position in shares of American Tower Corporation (NYSE:AMT) by 34.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,413 shares of the real estate investment trust’s stock after selling 50,068 shares during the quarter. Jones Financial Companies Lllp’s holdings in American Tower were worth $18,873,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after buying an additional 2,104 shares during the period. Cresset Asset Management LLC raised its holdings in American Tower by 29.2% during the 4th quarter. Cresset Asset Management LLC now owns 6,587 shares of the real estate investment trust’s stock worth $1,213,000 after buying an additional 1,488 shares during the period. Focus Partners Wealth raised its holdings in American Tower by 4.2% during the 4th quarter. Focus Partners Wealth now owns 272,811 shares of the real estate investment trust’s stock worth $52,720,000 after buying an additional 10,998 shares during the period. Graham Capital Management L.P. raised its holdings in American Tower by 163.9% during the 4th quarter. Graham Capital Management L.P. now owns 6,415 shares of the real estate investment trust’s stock worth $1,177,000 after buying an additional 3,984 shares during the period. Finally, Gotham Asset Management LLC raised its holdings in American Tower by 61.6% during the 4th quarter. Gotham Asset Management LLC now owns 94,755 shares of the real estate investment trust’s stock worth $17,379,000 after buying an additional 36,121 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank Of Canada raised 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 Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. UBS Group raised their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $245.00 price objective (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Two equities research 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $244.73.

Insiders Place Their Bets

In related news, CEO Juan Font sold 720 shares of the business’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Price Performance

NYSE AMT opened at $198.36 on Monday. 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 12-month low of $172.51 and a 12-month high of $243.56. The company has a market capitalization of $92.88 billion, a PE ratio of 72.13, a price-to-earnings-growth ratio of 1.22 and a beta of 0.86. The firm’s 50 day moving average is $213.60 and its 200-day moving average is $213.65.

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