Capital Analysts LLC Raises Stock Holdings in American Tower Corporation $AMT

Key Points

• Capital Analysts LLC increased its holdings in American Tower Corporation by 8.3%, now owning 55,090 shares valued at approximately $11.99 million.
• Analysts are generally positive on American Tower, with Goldman Sachs reiterating a "buy" rating and several firms raising their price targets, with the consensus price target now at $244.73.
• American Tower reported earnings per share of $2.60 for the last quarter, slightly beating analysts' expectations, despite a 9.4% decline in revenue compared to the previous year.

Capital Analysts LLC grew its position in American Tower Corporation (NYSE:AMT - Free Report) by 8.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,090 shares of the real estate investment trust's stock after acquiring an additional 4,213 shares during the quarter. Capital Analysts LLC's holdings in American Tower were worth $11,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Elmwood Wealth Management Inc. boosted its holdings in shares of American Tower by 2.5% in the 1st 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 period. 4J Wealth Management LLC boosted its holdings in shares of American Tower by 4.0% in the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock worth $283,000 after purchasing an additional 50 shares during the period. TCTC Holdings LLC boosted its holdings in shares of American Tower by 15.8% in the 1st quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock worth $81,000 after purchasing an additional 51 shares during the period. Coyle Financial Counsel LLC boosted its holdings in shares of American Tower by 2.4% in the 1st quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock worth $487,000 after purchasing an additional 53 shares during the period. Finally, Fortitude Advisory Group L.L.C. boosted its holdings in shares of American Tower by 2.9% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock worth $416,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the 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 transaction, the chief executive officer owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.17% of the company's stock.

American Tower Stock Up 1.0%

Shares of AMT traded up $2.04 during midday trading on Friday, reaching $211.77. 2,343,037 shares of the stock were exchanged, compared to its average volume of 2,367,385. American Tower Corporation has a 52 week low of $172.51 and a 52 week 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 company's 50 day moving average is $216.76 and its two-hundred day moving average is $212.47. The company has a market capitalization of $99.16 billion, a P/E ratio of 77.01, a PEG ratio of 1.20 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company earned $2.79 EPS. The business's revenue 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. On average, sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AMT shares. Bank of America started coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 target price for the company. JMP Securities boosted their price objective on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Scotiabank upped their price objective on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Hsbc Global Res downgraded American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, UBS Group upped their price objective on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $244.73.

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.