Norinchukin Bank The Raises Position in American Tower Corporation $AMT

Norinchukin Bank The raised its stake in American Tower Corporation (NYSE:AMT) by 14.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 22,831 shares of the real estate investment trust’s stock after buying an additional 2,849 shares during the quarter. Norinchukin Bank The’s holdings in American Tower were worth $4,968,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. North Capital Inc. purchased a new stake in shares of American Tower in the first quarter worth approximately $25,000. Hopwood Financial Services Inc. raised its stake in shares of American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower in the first quarter worth approximately $31,000. Lowe Wealth Advisors LLC raised its stake in shares of American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 109 shares during the last quarter. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of American Tower in the fourth quarter worth approximately $29,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the 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 directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $209.7830 on Friday. The stock has a fifty day simple moving average of $216.82 and a two-hundred day simple moving average of $212.28. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56. The firm has a market cap of $98.23 billion, a price-to-earnings ratio of 76.29, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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 business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the company earned $2.79 earnings per share. American Tower’s revenue 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. Analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMT. Wells Fargo & Company reduced their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. UBS Group increased their price target on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Raymond James Financial set a $250.00 price target on American Tower and gave the company a “strong-buy” rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. increased their price target on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Two 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 data from MarketBeat, the stock currently has a consensus 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.