Second Line Capital LLC Purchases 1,588 Shares of American Tower Corporation $AMT

Key Points

• Second Line Capital LLC increased its stake in American Tower Corporation by 10.9% during the first quarter, now holding 16,130 shares worth approximately $3.51 million.
• American Tower reported a net margin of 12.60% and a return on equity of 24.85% for the last quarter, with quarterly revenue falling 9.4% year-over-year.
• Analyst ratings for American Tower include two "Strong Buy" ratings, twelve "Buy," and three "Hold" ratings, with an average price target of $244.73.

Second Line Capital LLC lifted its stake in American Tower Corporation (NYSE:AMT - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,130 shares of the real estate investment trust's stock after acquiring an additional 1,588 shares during the period. American Tower makes up 0.9% of Second Line Capital LLC's portfolio, making the stock its 26th largest holding. Second Line Capital LLC's holdings in American Tower were worth $3,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after buying an additional 2,104 shares in the last quarter. AQR Capital Management LLC boosted its stake in American Tower by 7.5% during the fourth quarter. AQR Capital Management LLC now owns 175,173 shares of the real estate investment trust's stock worth $32,116,000 after buying an additional 12,180 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in American Tower during the fourth quarter worth $2,319,000. Keel Point LLC boosted its stake in American Tower by 5.9% during the fourth quarter. Keel Point LLC now owns 2,191 shares of the real estate investment trust's stock worth $402,000 after buying an additional 122 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in American Tower by 13.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 36,764 shares of the real estate investment trust's stock worth $6,743,000 after buying an additional 4,462 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the company'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 transaction of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

American Tower Trading Down 2.3%

NYSE:AMT traded down $4.59 on Wednesday, hitting $195.90. 3,615,228 shares of the stock were exchanged, compared to its average volume of 2,603,086. The stock has a market capitalization of $91.73 billion, a price-to-earnings ratio of 71.24, a P/E/G ratio of 1.26 and a beta of 0.86. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. 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 company's 50-day moving average price is $214.93 and its 200 day moving average price is $213.35.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share 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 analysts' expectations 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 previous year, the business posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMT. 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 research note on Wednesday, July 30th. Wells Fargo & Company reduced their target price on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Hsbc Global Res downgraded shares of American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. UBS Group boosted 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. Finally, JPMorgan Chase & Co. boosted 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $244.73.

American Tower Company 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.