771 Shares in American Tower Corporation $AMT Acquired by eCIO Inc.

eCIO Inc. acquired a new stake in shares of American Tower Corporation (NYSE:AMT) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 771 shares of the real estate investment trust’s stock, valued at approximately $168,000.

Several other hedge funds also recently modified their holdings of AMT. North Capital Inc. acquired a new stake in shares of American Tower in the 1st quarter valued at $25,000. Hopwood Financial Services Inc. raised its holdings in 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 buying an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower in the first quarter worth about $31,000. Lowe Wealth Advisors LLC boosted its stake in shares of American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 109 shares in the last quarter. Finally, City Holding Co. acquired a new position in shares of American Tower during the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Juan Font sold 720 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMT. Wells Fargo & Company reduced their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. UBS Group boosted their price objective on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Bank of America initiated coverage on shares of American Tower in a report on Monday, May 19th. They set a “buy” rating and a $255.00 price objective for the company. Barclays lifted their target price on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Royal Bank Of Canada upped their price target on shares of American Tower from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Two equities 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

American Tower Stock Up 1.4%

Shares of AMT stock opened at $196.44 on Friday. The stock has a market cap of $91.98 billion, a P/E ratio of 71.43, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. American Tower Corporation has a one year low of $172.51 and a one year high of $241.97. The stock has a fifty day moving average price of $211.36 and a 200 day moving average price of $213.42. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last announced 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 analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. 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 firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

About American Tower

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.