Nissay Asset Management Corp Japan ADV Acquires 9,428 Shares of American Tower Corporation $AMT

by · The Markets Daily

Nissay Asset Management Corp Japan ADV increased its position in shares of American Tower Corporation (NYSE:AMT – Free Report) by 11.0% during the first quarter, Holdings Channel reports. The institutional investor owned 95,451 shares of the real estate investment trust’s stock after purchasing an additional 9,428 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in American Tower were worth $20,770,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In related news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were 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 in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

American Tower Stock Down 0.7%

American Tower stock opened at $194.94 on Friday. The stock has a market cap of $91.28 billion, a P/E ratio of 70.89, a P/E/G ratio of 1.21 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The company’s 50-day moving average price is $213.99 and its two-hundred day moving average price is $213.27.

American Tower (NYSE:AMT – Get Free Report) last announced 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 analyst estimates of $2.58 billion. During the same quarter in the prior year, the business posted $2.79 EPS. The business’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. As a group, analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Royal Bank Of Canada boosted their price objective 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. JPMorgan Chase & Co. upped their target price on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. HSBC cut shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price for the company. in a research report on Wednesday, July 30th. Finally, UBS Group boosted their price target on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Two investment 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 company has an average rating of “Moderate Buy” and a consensus target price of $244.73.

Get Our Latest Analysis on American Tower

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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