Banque Transatlantique SA Buys Shares of 3,080 American Tower Corporation $AMT

Banque Transatlantique SA purchased a new position in shares of American Tower Corporation (NYSE:AMT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,080 shares of the real estate investment trust’s stock, valued at approximately $619,000.

Several other hedge funds have also recently bought and sold shares of the company. Elmwood Wealth Management Inc. boosted its position in American Tower by 2.5% during the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 50 shares in the last quarter. 4J Wealth Management LLC raised its stake in shares of American Tower by 4.0% during the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 50 shares during the last quarter. TCTC Holdings LLC raised its stake in shares of American Tower by 15.8% during the 1st quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 51 shares during the last quarter. Coyle Financial Counsel LLC boosted its position 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 worth $487,000 after buying an additional 53 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. grew its stake in American Tower by 2.9% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust’s stock valued at $416,000 after acquiring an additional 54 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMT. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Raymond James Financial set a $250.00 target price on American Tower and gave the company a “strong-buy” rating in a research note on Wednesday, July 30th. 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 report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective on the stock. in a research 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 issued a Hold rating to the stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average price target of $244.73.

American Tower Trading Down 2.3%

Shares of AMT opened at $195.90 on Thursday. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company has a market capitalization of $91.73 billion, a PE ratio of 71.24, a price-to-earnings-growth ratio of 1.26 and a beta of 0.86. The stock has a fifty day moving average of $214.45 and a two-hundred day moving average of $213.23. 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 announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. The business 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 business’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the company’s 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 completion of the transaction, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

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.