American Tower Corporation $AMT Shares Sold by GK Wealth Management LLC

GK Wealth Management LLC decreased its position in shares of American Tower Corporation (NYSE:AMT) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,245 shares of the real estate investment trust’s stock after selling 57 shares during the quarter. GK Wealth Management LLC’s holdings in American Tower were worth $271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Jacobi Capital Management LLC boosted its holdings in American Tower by 2.6% in the 1st quarter. Jacobi Capital Management LLC now owns 8,314 shares of the real estate investment trust’s stock valued at $1,809,000 after purchasing an additional 211 shares during the last quarter. Mattson Financial Services LLC lifted its stake in shares of American Tower by 10.1% in the 1st quarter. Mattson Financial Services LLC now owns 4,642 shares of the real estate investment trust’s stock valued at $1,010,000 after purchasing an additional 426 shares during the last quarter. Westbourne Investments Inc. lifted its stake in shares of American Tower by 3.9% in the 1st quarter. Westbourne Investments Inc. now owns 5,336 shares of the real estate investment trust’s stock valued at $1,161,000 after purchasing an additional 200 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of American Tower by 673.8% in the 1st quarter. Acadian Asset Management LLC now owns 5,107 shares of the real estate investment trust’s stock valued at $1,111,000 after purchasing an additional 4,447 shares during the last quarter. Finally, Acorns Advisers LLC lifted its stake in shares of American Tower by 26.0% in the 1st quarter. Acorns Advisers LLC now owns 1,401 shares of the real estate investment trust’s stock valued at $305,000 after purchasing an additional 289 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Wells Fargo & Company decreased their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. BMO Capital Markets restated an “outperform” rating and set a $245.00 price target (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Finally, Bank of America initiated coverage on American Tower in a research note on Monday, May 19th. They set a “buy” rating and a $255.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $244.73.

American Tower Stock Down 0.4%

Shares of NYSE AMT opened at $193.77 on Thursday. The stock has a market cap of $90.73 billion, a P/E ratio of 70.46, a PEG 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 12-month low of $172.51 and a 12-month high of $241.97. The business’s fifty day simple moving average is $211.86 and its 200-day simple moving average is $213.39.

American Tower (NYSE:AMT) last announced 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. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the business earned $2.79 EPS. The company’s revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Insider Activity 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 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.