American Tower Corporation (NYSE:AMT) Shares Sold by Aberdeen Group plc

Aberdeen Group plc reduced its stake in American Tower Corporation (NYSE:AMT) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 672,968 shares of the real estate investment trust’s stock after selling 37,331 shares during the period. Aberdeen Group plc’s holdings in American Tower were worth $145,984,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AMT. Brighton Jones LLC grew its stake in shares of American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 2,104 shares in the last quarter. CreativeOne Wealth LLC grew its stake in shares of American Tower by 2.1% during the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock valued at $477,000 after acquiring an additional 54 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of American Tower during the fourth quarter valued at about $336,000. Bridgewater Associates LP acquired a new stake in shares of American Tower during the fourth quarter valued at about $354,000. Finally, Regal Investment Advisors LLC grew its stake in shares of American Tower by 22.8% during the fourth quarter. Regal Investment Advisors LLC now owns 4,930 shares of the real estate investment trust’s stock valued at $904,000 after acquiring an additional 914 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the subject of several recent analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Royal Bank Of Canada increased their price target on shares of American Tower from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Bank of America initiated coverage on shares of American Tower in a research report on Monday, May 19th. They set a “buy” rating and a $255.00 price target on the stock. UBS Group increased their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Finally, Raymond James Financial set a $250.00 price target on shares of American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. Four 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 stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $244.47.

American Tower Stock Performance

Shares of NYSE AMT opened at $203.82 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm’s 50-day moving average price is $217.56 and its two-hundred day moving average price is $211.54. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56. The stock has a market capitalization of $95.44 billion, a P/E ratio of 74.12, a P/E/G ratio of 1.16 and a beta of 0.82.

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, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the company posted $2.79 earnings per share. American Tower’s revenue was down 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred 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 sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

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.