Commerzbank Aktiengesellschaft FI Increases Stake in American Tower Co. (NYSE:AMT)

Commerzbank Aktiengesellschaft FI raised its position in American Tower Co. (NYSE:AMT - Free Report) by 91.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,302 shares of the real estate investment trust's stock after purchasing an additional 13,550 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in American Tower were worth $5,149,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC lifted its position in American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock valued at $2,474,934,000 after buying an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC increased its position in shares of American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust's stock valued at $279,890,000 after purchasing an additional 1,160,890 shares during the last quarter. State Street Corp raised its stake in American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock valued at $4,924,091,000 after buying an additional 635,726 shares in the last quarter. KBC Group NV lifted its holdings in American Tower by 270.4% during the 3rd quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust's stock worth $108,553,000 after buying an additional 340,742 shares during the last quarter. Finally, Brookfield Corp ON raised its holdings in American Tower by 88.3% during the third quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust's stock worth $165,286,000 after purchasing an additional 333,209 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company's stock.

American Tower Price Performance

Shares of American Tower stock traded down $3.47 during trading on Thursday, hitting $205.22. 362,080 shares of the company were exchanged, compared to its average volume of 2,211,954. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a 50 day moving average price of $188.53 and a 200 day moving average price of $206.45. The stock has a market capitalization of $95.90 billion, a price-to-earnings ratio of 86.61, a P/E/G ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 earnings per share. On average, equities analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMT has been the topic of several research analyst reports. Citizens Jmp raised American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Wells Fargo & Company lowered their price target on American Tower from $215.00 to $195.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Mizuho reduced their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Citigroup lowered their target price on American Tower from $255.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Finally, JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They set an "outperform" rating and a $225.00 price target for the company. Four analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $225.21.

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.