Aptus Capital Advisors LLC Purchases 7,422 Shares of American Tower Corporation $AMT

Key Points

• Aptus Capital Advisors LLC acquired an additional 7,422 shares of American Tower Corporation, increasing its total holdings by 12.0% to 69,231 shares valued at $15,065,000.
• American Tower recently faced mixed analyst ratings, with firms like HSBC downgrading the stock to a "hold" while Goldman Sachs maintained a "buy" rating.
• American Tower reported quarterly earnings of $2.60 per share, beating analyst estimates, though the firm's revenue decreased by 9.4% year-over-year.

Aptus Capital Advisors LLC boosted its position in American Tower Corporation (NYSE:AMT - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,231 shares of the real estate investment trust's stock after acquiring an additional 7,422 shares during the period. Aptus Capital Advisors LLC's holdings in American Tower were worth $15,065,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Elmwood Wealth Management Inc. raised its stake in shares of American Tower by 2.5% in the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after purchasing an additional 50 shares during the last quarter. 4J Wealth Management LLC increased its position in shares of American Tower by 4.0% during the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock valued at $283,000 after acquiring an additional 50 shares during the last quarter. TCTC Holdings LLC increased its position in shares of American Tower by 15.8% during the first quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock valued at $81,000 after acquiring an additional 51 shares during the last quarter. Coyle Financial Counsel LLC increased its position in shares of American Tower by 2.4% during the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock valued at $487,000 after acquiring an additional 53 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. increased its position in shares of American Tower by 2.9% during the first quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock valued at $416,000 after acquiring an additional 54 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

AMT has been the subject of a number of research analyst reports. HSBC downgraded American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target for the company. in a research report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Wells Fargo & Company decreased their price target on American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Bank of America began coverage on American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective for the company. Finally, Hsbc Global Res lowered American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, American Tower currently has an average rating of "Moderate Buy" and an average target price of $244.47.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction on Thursday, July 31st. The stock was 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 owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company's stock.

American Tower Price Performance

American Tower stock opened at $206.20 on Monday. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The business has a fifty day moving average price of $217.44 and a 200-day moving average price of $212.04. 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 firm has a market capitalization of $96.55 billion, a P/E ratio of 74.98, a PEG ratio of 1.17 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates 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 last year, the company earned $2.79 earnings per share. As a group, equities research analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

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.

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