Beck Mack & Oliver LLC Purchases Shares of 1,000 American Tower Corporation $AMT

Beck Mack & Oliver LLC purchased a new stake in American Tower Corporation (NYSE:AMT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,000 shares of the real estate investment trust’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. North Capital Inc. acquired a new stake in American Tower in the first quarter valued at $25,000. Hopwood Financial Services Inc. raised its stake in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in American Tower in the fourth quarter valued at $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower in the first quarter valued at $31,000. Finally, Lowe Wealth Advisors LLC raised its stake in American Tower by 218.0% in 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. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the topic of a number of analyst reports. Barclays raised their price target on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. 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 research report on Wednesday, July 30th. HSBC cut American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a research report on Wednesday, July 30th. Wells Fargo & Company cut their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $245.00 target price (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

American Tower Stock Up 0.6%

AMT opened at $203.70 on Monday. The stock has a market capitalization of $95.38 billion, a P/E ratio of 74.07, a price-to-earnings-growth 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 business’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 (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. The firm 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 revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

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.