RB Capital Management LLC Sells 253 Shares of American Tower Corporation $AMT

by · The Cerbat Gem

RB Capital Management LLC decreased its holdings in American Tower Corporation (NYSE:AMT – Free Report) by 4.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,031 shares of the real estate investment trust’s stock after selling 253 shares during the period. RB Capital Management LLC’s holdings in American Tower were worth $1,095,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AMT. Nuveen LLC bought a new position in shares of American Tower in the 1st quarter valued at about $991,525,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after acquiring an additional 2,309,627 shares during the last quarter. GAMMA Investing LLC lifted its stake in American Tower by 23,627.3% in the first quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust’s stock worth $370,346,000 after purchasing an additional 1,694,784 shares during the last quarter. Bessemer Group Inc. lifted its stake in American Tower by 272.0% in the first quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock worth $247,390,000 after purchasing an additional 831,247 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in American Tower by 490.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock worth $141,612,000 after purchasing an additional 540,648 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. HSBC downgraded shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective for the company. in a research note on Wednesday, July 30th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Wells Fargo & Company decreased their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, JMP Securities raised their price objective on shares of American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $244.73.

Read Our Latest Report on AMT

Insider Buying and Selling

In related news, CEO Juan Font sold 720 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were 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. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

American Tower Stock Performance

American Tower stock opened at $207.61 on Wednesday. The company has a market capitalization of $97.21 billion, a PE ratio of 75.49, a P/E/G ratio of 1.20 and a beta of 0.82. The company has a 50 day moving average price of $216.53 and a 200-day moving average price of $212.92. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT – Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.63 billion during 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%. American Tower’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Company Profile

(Free Report)

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.

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