American Tower Corporation $AMT Stake Increased by First Financial Bankshares Inc

First Financial Bankshares Inc lifted its position in shares of American Tower Corporation (NYSE:AMT) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 132,128 shares of the real estate investment trust’s stock after acquiring an additional 4,690 shares during the period. First Financial Bankshares Inc’s holdings in American Tower were worth $28,751,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AMT. North Capital Inc. acquired a new stake in American Tower in the first quarter worth $25,000. Hopwood Financial Services Inc. increased its holdings 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 valued at $26,000 after purchasing an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower during the first quarter valued at $31,000. Lowe Wealth Advisors LLC boosted its stake in 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 valued at $35,000 after buying an additional 109 shares in the last quarter. Finally, Minot DeBlois Advisors LLC bought a new position in American Tower during the fourth quarter valued at about $29,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AMT shares. JPMorgan Chase & Co. raised their target price on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Bank of America started coverage on American Tower in a research note on Monday, May 19th. They set a “buy” rating and a $255.00 target price for the company. Barclays increased their price target on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, Royal Bank Of Canada increased their price target on American Tower from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

Insider Buying and Selling

In related news, CEO Juan Font sold 720 shares of the company’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by insiders.

American Tower Stock Up 0.6%

Shares of AMT stock opened at $203.70 on Monday. The stock’s 50 day simple moving average is $215.77 and its 200 day simple moving average is $213.34. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The company has a market capitalization of $95.38 billion, a price-to-earnings ratio of 74.07, a PEG ratio of 1.26 and a beta of 0.86.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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. The business had revenue of $2.63 billion for 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 firm’s revenue was down 9.4% compared to the same quarter last year. During the same period last year, the business earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

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.