American Tower Corporation $AMT Shares Bought by Guggenheim Capital LLC

Key Points

• Guggenheim Capital LLC increased its stake in American Tower Corporation (AMT) by 3.2% during the first quarter, bringing their total ownership to 59,574 shares valued at approximately $12.96 million.
• CEO Juan Font sold 720 shares of AMT at an average price of $208.33, decreasing his position by 2.98% as he now owns 23,425 shares valued at about $4.88 million.
• American Tower's stock is currently trading at $203.67, reflecting a 1.8% decrease, and the company reported a quarterly revenue of $2.63 billion, exceeding analysts' expectations.

Guggenheim Capital LLC lifted its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,574 shares of the real estate investment trust's stock after buying an additional 1,873 shares during the quarter. Guggenheim Capital LLC's holdings in American Tower were worth $12,963,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. North Capital Inc. acquired a new stake in shares of American Tower during the first quarter worth approximately $25,000. Hopwood Financial Services Inc. grew its position in shares of American Tower by 100.0% during the first 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 in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower during the first quarter worth approximately $31,000. Lowe Wealth Advisors LLC grew its position in shares of American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after buying an additional 109 shares in the last quarter. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMT. Hsbc Global Res downgraded shares of American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Raymond James Financial set a $250.00 price objective on American Tower and gave the stock a "strong-buy" rating in a research note on Wednesday, July 30th. Barclays raised their price objective on American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Wells Fargo & Company reduced their price objective on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised their price objective on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $244.73.

American Tower Stock Performance

AMT stock traded up $1.14 during mid-day trading on Monday, reaching $203.70. The company had a trading volume of 2,618,098 shares, compared to its average volume of 2,326,875. 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 stock has a market capitalization of $95.38 billion, a P/E ratio of 74.07, a P/E/G ratio of 1.26 and a beta of 0.86. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The stock's 50-day simple moving average is $215.77 and its two-hundred day simple moving average is $213.34.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The company had revenue of $2.63 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the business posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

Insider Transactions at American Tower

In other news, CEO Juan Font sold 720 shares of the firm's 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 directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company's stock.

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.