Financiere des Professionnels Fonds d investissement inc. Sells 6,630 Shares of American Tower Corporation $AMT

Financiere des Professionnels Fonds d investissement inc. lessened its stake in shares of American Tower Corporation (NYSE:AMT) by 7.1% during the 2nd quarter, Holdings Channel reports. The fund owned 87,220 shares of the real estate investment trust’s stock after selling 6,630 shares during the period. American Tower comprises approximately 1.2% of Financiere des Professionnels Fonds d investissement inc.’s holdings, making the stock its 18th largest position. Financiere des Professionnels Fonds d investissement inc.’s holdings in American Tower were worth $19,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Resolution Capital Ltd bought a new stake in American Tower during the 1st quarter valued at $72,706,000. Golden State Wealth Management LLC lifted its holdings in shares of American Tower by 23.0% during the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 69 shares during the last quarter. Shum Financial Group Inc. lifted its holdings in shares of American Tower by 3.5% during the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust’s stock valued at $913,000 after purchasing an additional 141 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of American Tower by 126.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock valued at $21,215,000 after purchasing an additional 54,360 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its holdings in shares of American Tower by 13.3% during the 1st quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust’s stock valued at $50,487,000 after purchasing an additional 27,194 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

NYSE:AMT opened at $194.61 on Wednesday. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $241.46. 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 stock has a market capitalization of $91.13 billion, a PE ratio of 70.77, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The stock’s 50-day moving average price is $209.75 and its 200-day moving average price is $213.29.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the firm earned $2.79 EPS. The company’s quarterly revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction dated 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 directly owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on AMT. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their price objective on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. 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 raised their target price on American Tower from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Finally, 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 research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.