American Tower Corporation $AMT Shares Acquired by First Financial Bankshares Inc

Key Points

• First Financial Bankshares Inc increased its stake in American Tower Corporation by 3.7%, now holding 132,128 shares worth approximately $28.75 million.
• Wall Street analysts have a generally positive outlook, with multiple firms raising their price targets and most ratings being either "Buy" or "Overweight."
• American Tower reported a net margin of 12.60% for the last quarter, though its revenue decreased by 9.4% compared to the same quarter last year.

First Financial Bankshares Inc grew its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 3.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 132,128 shares of the real estate investment trust's stock after buying an additional 4,690 shares during the period. First Financial Bankshares Inc's holdings in American Tower were worth $28,751,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. North Capital Inc. acquired a new position in American Tower during the 1st quarter valued at about $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 worth $26,000 after buying an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower in the first quarter worth about $31,000. Lowe Wealth Advisors LLC boosted its holdings in shares of American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after buying an additional 109 shares during the period. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of American Tower in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMT. Bank of America began coverage on shares of American Tower in a research note on Monday, May 19th. They issued a "buy" rating and a $255.00 price objective for the company. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. HSBC lowered American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target on the stock. in a research report on Wednesday, July 30th. Wells Fargo & Company cut their target price on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, UBS Group raised their price objective on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction dated Thursday, July 31st. The shares were 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company's stock.

American Tower Stock Up 1.7%

AMT stock traded up $3.27 on Friday, reaching $198.36. 3,879,849 shares of the company traded hands, compared to its average volume of 2,616,235. The firm has a fifty day simple moving average of $213.99 and a 200-day simple moving average of $213.27. The company has a market cap of $92.88 billion, a P/E ratio of 72.13, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm posted $2.79 EPS. American Tower's revenue for the quarter 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. Research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

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.