Focus Partners Wealth Boosts Position in American Tower Corporation $AMT

Focus Partners Wealth grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 2.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 279,977 shares of the real estate investment trust’s stock after purchasing an additional 7,166 shares during the period. Focus Partners Wealth’s holdings in American Tower were worth $60,923,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMT. North Capital Inc. acquired a new position in shares of American Tower during the 1st quarter valued at $25,000. Hopwood Financial Services Inc. raised its position 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 purchasing an additional 60 shares during the period. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower during the fourth quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower in the first quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC grew its stake in shares of 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. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other American Tower 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

American Tower Trading Down 0.4%

AMT opened at $193.77 on Thursday. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $241.97. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $90.73 billion, a PE ratio of 70.46, a P/E/G ratio of 1.20 and a beta of 0.86. The firm’s fifty day moving average price is $211.86 and its 200 day moving average price is $213.39.

American Tower (NYSE:AMT) last released its earnings results 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 company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company’s revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, research analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Bank of America assumed coverage on American Tower in a report on Monday, May 19th. They issued a “buy” rating and a $255.00 price target for the company. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. Barclays raised their price target on shares of American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective on the stock. in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada raised their target price on American Tower from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $244.73.

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.