Geneos Wealth Management Inc. Sells 456 Shares of American Tower Corporation $AMT

Geneos Wealth Management Inc. lessened its position in shares of American Tower Corporation (NYSE:AMT) by 10.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,984 shares of the real estate investment trust’s stock after selling 456 shares during the quarter. Geneos Wealth Management Inc.’s holdings in American Tower were worth $867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Acorns Advisers LLC grew its holdings in shares of American Tower by 26.0% during the 1st quarter. Acorns Advisers LLC now owns 1,401 shares of the real estate investment trust’s stock worth $305,000 after purchasing an additional 289 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of American Tower by 661.6% during the 1st quarter. Intech Investment Management LLC now owns 56,893 shares of the real estate investment trust’s stock worth $12,380,000 after purchasing an additional 49,423 shares in the last quarter. Focus Partners Wealth boosted its stake in American Tower by 2.6% in the 1st quarter. Focus Partners Wealth now owns 279,977 shares of the real estate investment trust’s stock valued at $60,923,000 after buying an additional 7,166 shares in the last quarter. Integrity Alliance LLC. acquired a new stake in American Tower in the 1st quarter valued at $997,000. Finally, Advisory Alpha LLC boosted its stake in American Tower by 4.6% in the 1st quarter. Advisory Alpha LLC now owns 1,970 shares of the real estate investment trust’s stock valued at $429,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related 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 sale, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.17% of the stock is currently owned by insiders.

American Tower Trading Down 0.7%

AMT stock opened at $195.27 on Friday. The company has a market cap of $91.43 billion, a P/E ratio of 71.01, a PEG ratio of 1.21 and a beta of 0.86. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $241.97. 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 fifty day moving average of $210.83 and a 200-day moving average of $213.45.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share 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 return on equity of 24.85% and a net margin of 12.60%.The firm’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

Analysts Set New Price Targets

AMT has been the topic of several recent analyst reports. Bank of America initiated coverage on American Tower in a research note on Monday, May 19th. They issued a “buy” rating and a $255.00 price target on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their target price on shares of American Tower from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. UBS Group increased their price target on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $244.73.

American Tower Company 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.