OneAscent Investment Solutions LLC Purchases New Shares in American Tower Corporation (NYSE:AMT)

OneAscent Investment Solutions LLC purchased a new stake in shares of American Tower Corporation (NYSE:AMT) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 1,216 shares of the real estate investment trust’s stock, valued at approximately $265,000.

Several other hedge funds also recently made changes to their positions in the company. Vestmark Advisory Solutions Inc. boosted its position in shares of American Tower by 81.5% during the first quarter. Vestmark Advisory Solutions Inc. now owns 11,544 shares of the real estate investment trust’s stock valued at $2,512,000 after purchasing an additional 5,183 shares in the last quarter. Ground Swell Capital LLC bought a new stake in American Tower in the first quarter worth $227,000. Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in American Tower in the first quarter worth $1,088,000. E Fund Management Co. Ltd. boosted its holdings in American Tower by 5.6% in the first quarter. E Fund Management Co. Ltd. now owns 1,589 shares of the real estate investment trust’s stock worth $346,000 after acquiring an additional 84 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in American Tower by 6.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,093 shares of the real estate investment trust’s stock worth $3,067,000 after acquiring an additional 831 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMT. Raymond James Financial set a $250.00 target price on American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Barclays boosted their target price on American Tower from $223.00 to $246.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada boosted their price target on American Tower from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $243.88.

American Tower Stock Performance

Shares of AMT opened at $204.04 on Thursday. 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 business has a 50-day simple moving average of $217.81 and a two-hundred day simple moving average of $211.46. The stock has a market cap of $95.54 billion, a price-to-earnings ratio of 74.20, a PEG ratio of 1.17 and a beta of 0.82. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%. The business’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.79 earnings per share. On average, analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

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.