Belmont Capital LLC Has $521,000 Position in American Tower Corporation $AMT

Key Points

• Belmont Capital LLC significantly increased its position in American Tower Corporation, purchasing an additional 2,051 shares to own a total of 2,396 shares valued at approximately $521,000.
• Institutional investors currently hold 92.69% of American Tower's stock, indicating strong interest from large financial entities.
• American Tower's recent quarterly earnings showed a slight growth, with $2.60 EPS reported, exceeding the consensus estimate, although revenues declined by 9.4% year-over-year.

Belmont Capital LLC increased its stake in American Tower Corporation (NYSE:AMT - Free Report) by 594.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,396 shares of the real estate investment trust's stock after purchasing an additional 2,051 shares during the quarter. Belmont Capital LLC's holdings in American Tower were worth $521,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Banque Transatlantique SA acquired a new stake in American Tower in the 1st quarter valued at about $619,000. AQR Capital Management LLC raised its holdings in American Tower by 60.1% during the 1st quarter. AQR Capital Management LLC now owns 280,434 shares of the real estate investment trust's stock worth $60,784,000 after buying an additional 105,261 shares during the period. Atalanta Sosnoff Capital LLC acquired a new stake in American Tower during the 1st quarter worth about $231,000. Advisors Asset Management Inc. raised its holdings in American Tower by 12.1% during the 1st quarter. Advisors Asset Management Inc. now owns 120,781 shares of the real estate investment trust's stock worth $26,282,000 after buying an additional 13,036 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in American Tower during the 1st quarter worth about $162,127,000. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Performance

American Tower stock traded up $3.27 during trading hours on Friday, reaching $198.36. 4,126,139 shares of the company were exchanged, compared to its average volume of 2,398,712. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm has a market cap of $92.88 billion, a price-to-earnings ratio of 72.13, a PEG ratio of 1.22 and a beta of 0.86. The stock has a 50-day moving average of $213.60 and a 200 day moving average of $213.50.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS 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 analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.American Tower's revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

Wall Street Analyst Weigh In

AMT has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price objective on American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. HSBC downgraded American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Barclays upped their target price on American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, Raymond James Financial set a $250.00 target price on American Tower and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $244.73.

Insider Transactions at American Tower

In related 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 transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by corporate 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.