Edgar Lomax Co. VA Makes New $6 Million Investment in American Tower Corporation $AMT

Key Points

• Edgar Lomax Co. VA acquired 27,555 shares of American Tower Corporation, valued at approximately $5,996,000, during the first quarter.
• Institutional investors now hold 92.69% of American Tower's stock, with notable increases in holdings from firms like Aptus Capital Advisors and Northern Trust Corp.
• Analysts have set an average target price for American Tower at $244.47, with ratings indicating a general consensus of a "Moderate Buy."

Edgar Lomax Co. VA bought a new stake in American Tower Corporation (NYSE:AMT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,555 shares of the real estate investment trust's stock, valued at approximately $5,996,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC lifted its holdings in American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock valued at $80,000 after buying an additional 69 shares during the period. Shum Financial Group Inc. lifted its holdings in American Tower by 3.5% in the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock valued at $913,000 after buying an additional 141 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in American Tower by 126.0% in the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust's stock valued at $21,215,000 after buying an additional 54,360 shares during the period. AEGON ASSET MANAGEMENT UK Plc lifted its holdings in American Tower by 13.3% in the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust's stock valued at $50,487,000 after buying an additional 27,194 shares during the period. Finally, Georgetown University lifted its holdings in American Tower by 128.2% in the fourth quarter. Georgetown University now owns 45,654 shares of the real estate investment trust's stock valued at $8,373,000 after buying an additional 25,651 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Up 1.0%

Shares of NYSE:AMT traded up $2.04 during midday trading on Friday, hitting $211.77. 2,343,037 shares of the company's stock were exchanged, compared to its average volume of 2,367,385. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50 day moving average price of $216.76 and a 200-day moving average price of $212.47. The company has a market cap of $99.16 billion, a PE ratio of 77.01, a price-to-earnings-growth ratio of 1.20 and a beta of 0.82. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate 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%. The firm's revenue for the quarter was down 9.4% on a year-over-year basis. During the same period 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. On average, sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AMT shares. Barclays upped their price objective on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Royal Bank Of Canada upped their price objective on shares of American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Hsbc Global Res lowered shares of American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Wells Fargo & Company dropped their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Finally, UBS Group upped their price objective 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 equities 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 data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by insiders.

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.