FJ Capital Management LLC Invests $380,000 in American Tower Corporation $AMT

Key Points

• FJ Capital Management LLC acquired a new stake in American Tower Corporation, buying 1,746 shares valued at approximately $380,000 in the first quarter.
• American Tower has seen significant institutional interest, with several firms increasing their holdings dramatically, such as Price T Rowe Associates increasing its position by 39.6% and GAMMA Investing by over 23,600% in the same quarter.
• Analysts have mixed ratings for American Tower, with price targets ranging from $230.00 to $260.00, indicating a consensus of "Moderate Buy" and an average target of approximately $244.73.

FJ Capital Management LLC bought a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,746 shares of the real estate investment trust's stock, valued at approximately $380,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in shares of American Tower in the first quarter worth $991,525,000. Price T Rowe Associates Inc. MD increased its stake in shares of American Tower by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock worth $1,772,144,000 after purchasing an additional 2,309,627 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of American Tower by 23,627.3% in the first quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock worth $370,346,000 after purchasing an additional 1,694,784 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of American Tower by 272.0% in the first quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust's stock worth $247,390,000 after purchasing an additional 831,247 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of American Tower by 490.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust's stock worth $141,612,000 after purchasing an additional 540,648 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 1.7%

NYSE AMT traded up $3.27 during trading on Friday, reaching $198.36. 4,126,139 shares of the company's stock traded hands, compared to its average volume of 2,398,712. 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 cap of $92.88 billion, a price-to-earnings ratio of 72.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. The company's 50 day simple moving average is $213.60 and its two-hundred day simple moving average is $213.33. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted 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 for 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, sell-side analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were 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 trade represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMT. Hsbc Global Res cut shares of American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. UBS Group raised their target price on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company cut their target price on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Finally, Bank of America began coverage on shares of American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $244.73.

American Tower 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.