Knuff & Co LLC Has $5.27 Million Position in American Tower Corporation (NYSE:AMT)

Key Points

• Knuff & Co LLC increased its investment in American Tower Corporation by 6.1%, owning 24,213 shares worth approximately $5.27 million as per their latest SEC filing.
• Several institutional investors have also adjusted their holdings, with substantial increases in stakes reported, indicating strong investor interest in the stock.
• American Tower's recent earnings report showed $2.60 EPS, surpassing expectations, alongside a 12.60% net margin, although revenue decreased by 9.4% year-over-year.

Knuff & Co LLC raised its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 6.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,213 shares of the real estate investment trust's stock after buying an additional 1,390 shares during the period. American Tower comprises about 1.8% of Knuff & Co LLC's investment portfolio, making the stock its 19th biggest holding. Knuff & Co LLC's holdings in American Tower were worth $5,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Elmwood Wealth Management Inc. lifted its stake 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 valued at $454,000 after purchasing an additional 50 shares during the last quarter. 4J Wealth Management LLC lifted its stake 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 valued at $283,000 after purchasing an additional 50 shares during the last quarter. TCTC Holdings LLC lifted its stake 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 valued at $81,000 after purchasing an additional 51 shares during the last quarter. Coyle Financial Counsel LLC lifted its stake 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 valued at $487,000 after purchasing an additional 53 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its stake in shares of American Tower by 2.1% in the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. Barclays lifted their price objective on shares of American Tower from $223.00 to $246.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Hsbc Global Res downgraded shares of American Tower from a "strong-buy" rating to a "hold" rating 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. HSBC downgraded shares of 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. Finally, JMP Securities lifted their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, American Tower currently has a consensus rating of "Moderate Buy" and an average target price of $244.47.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower 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 sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company's stock.

American Tower Price Performance

Shares of American Tower stock opened at $206.20 on Friday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The firm's 50-day simple moving average is $217.44 and its 200-day simple moving average is $211.67. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The firm has a market cap of $96.55 billion, a P/E ratio of 74.98, a price-to-earnings-growth ratio of 1.16 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the business earned $2.79 EPS. The firm's revenue was down 9.4% on a year-over-year basis. As a group, research analysts expect that American Tower Corporation will post 10.14 EPS 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.

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