Graham Capital Management L.P. Grows Stock Holdings in American Tower Corporation $AMT

Key Points

• Graham Capital Management L.P. increased its stake in American Tower Corporation by 148.7%, adding 9,540 shares during Q1, bringing its total holdings to 15,955 shares valued at approximately $3.47 million.
• The company's earnings per share for the latest quarter was $2.60, slightly surpassing the analyst expectations of $2.59, and revenues totaled $2.63 billion, above the forecast of $2.58 billion.
• Analyst ratings are varied, with a consensus rating of Moderate Buy and a target price of $244.73, indicating continued interest in the stock despite fluctuations in price objectives from various financial institutions.

Graham Capital Management L.P. boosted its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 148.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,955 shares of the real estate investment trust's stock after purchasing an additional 9,540 shares during the quarter. Graham Capital Management L.P.'s holdings in American Tower were worth $3,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AMT. North Capital Inc. purchased a new position in shares of American Tower in the 1st quarter valued at $25,000. Hopwood Financial Services Inc. grew its stake in American Tower by 100.0% during the 1st 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 during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in American Tower during the 4th quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower during the 1st quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC lifted its position in American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 109 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank Of Canada upped their target price on American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Hsbc Global Res cut American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. HSBC cut American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price for the company. in a report on Wednesday, July 30th. Finally, UBS Group upped their price target 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 investment 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. Based on data from MarketBeat, American Tower has a consensus rating of "Moderate Buy" and an average price target of $244.73.

Insider Activity

In other American Tower 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

American Tower Stock Down 2.3%

American Tower stock traded down $4.59 during midday trading on Wednesday, reaching $195.90. The company's stock had a trading volume of 3,615,229 shares, compared to its average volume of 2,186,650. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a market cap of $91.73 billion, a P/E ratio of 71.24, a P/E/G ratio of 1.26 and a beta of 0.86. The business has a 50-day simple moving average of $214.45 and a 200-day simple moving average of $213.23.

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 for the quarter, beating 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 company had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. During the same period last year, the firm earned $2.79 earnings per share. American Tower's quarterly revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal 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.