OLD Mission Capital LLC Takes Position in American Tower Corporation $AMT

Key Points

• OLD Mission Capital LLC purchased a new position in American Tower Corporation, acquiring 2,709 shares valued at approximately $589,000 in the first quarter.
• American Tower's quarterly earnings showed an EPS of $2.60, slightly above analysts' expectations, though revenue decreased by 9.4% compared to the same quarter last year.
• Multiple institutional investors significantly increased their stakes in American Tower during the first quarter, with ownership by such entities totaling 92.69% of the company's stock.

OLD Mission Capital LLC acquired a new stake in American Tower Corporation (NYSE:AMT - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 2,709 shares of the real estate investment trust's stock, valued at approximately $589,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vident Advisory LLC raised its position in shares of American Tower by 111.6% during the 1st quarter. Vident Advisory LLC now owns 9,757 shares of the real estate investment trust's stock valued at $2,123,000 after acquiring an additional 5,146 shares during the last quarter. GKV Capital Management Co. Inc. acquired a new position in shares of American Tower during the 1st quarter worth about $91,000. WPG Advisers LLC bought a new position in shares of American Tower in the 1st quarter valued at about $58,000. Lansforsakringar Fondforvaltning AB publ lifted its position in shares of American Tower by 8.3% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 380,603 shares of the real estate investment trust's stock valued at $82,819,000 after buying an additional 29,250 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG increased its holdings in shares of American Tower by 70.8% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 51,596 shares of the real estate investment trust's stock valued at $11,227,000 after purchasing an additional 21,380 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMT. UBS Group upped their target price on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada upped their price objective on American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. HSBC downgraded 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. Wells Fargo & Company decreased their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Two research 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 stock. According to data from MarketBeat, American Tower presently has a consensus rating of "Moderate Buy" and an average target price of $244.73.

American Tower Stock Up 1.7%

NYSE AMT traded up $3.27 during trading hours on Friday, hitting $198.36. The company's stock had a trading volume of 4,126,139 shares, compared to its average volume of 2,398,712. The company has a market capitalization of $92.88 billion, a PE ratio of 72.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. The company's 50-day simple moving average is $213.60 and its two-hundred day simple moving average is $213.33.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company's quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the prior 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 fiscal year.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

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.