4,748 Shares in American Tower Corporation $AMT Acquired by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP acquired 4,748 shares of American Tower Corporation, valued at about $1,033,000, during the 1st quarter, as reported in their Form 13F filing.
• Analysts have mixed views on American Tower, with HSBC downgrading the stock to a "hold" and setting a price target of $235, while JPMorgan and Barclays raised their targets to $255 and $250, respectively.
• American Tower reported $2.60 earnings per share for its last quarterly earnings, exceeding estimates, but also noted a 9.4% revenue decline year-over-year.

Concentric Capital Strategies LP acquired a new position in American Tower Corporation (NYSE:AMT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,748 shares of the real estate investment trust's stock, valued at approximately $1,033,000.

Several other institutional investors have also bought and sold shares of the stock. North Capital Inc. bought a new stake in American Tower in the first quarter worth about $25,000. Hopwood Financial Services Inc. increased its holdings in shares of American Tower by 100.0% in the 1st 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 during the period. Minot DeBlois Advisors LLC purchased a new stake in shares of American Tower during the 4th quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower during the first quarter valued at approximately $31,000. Finally, Lowe Wealth Advisors LLC grew its holdings in American Tower by 218.0% in the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Trading Up 0.5%

NYSE:AMT traded up $0.95 on Wednesday, reaching $195.55. 792,454 shares of the stock traded hands, compared to its average volume of 2,627,154. The firm has a market capitalization of $91.57 billion, a price-to-earnings ratio of 71.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. The company's 50 day moving average is $212.45 and its 200-day moving average is $213.53. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $241.97.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The business 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 company's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets restated an "outperform" rating and issued a $245.00 price objective (down previously from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Bank of America initiated coverage on American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 target price for the company. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. Hsbc Global Res downgraded American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised their price target on American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. 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. Based on data from MarketBeat.com, the stock presently has an average 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 firm'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 directly owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by company insiders.

About American Tower

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.