First Financial Bank Trust Division Boosts Position in American Tower Corporation $AMT

First Financial Bank Trust Division boosted its position in shares of American Tower Corporation (NYSE:AMT) by 21.2% in the second quarter, Holdings Channel reports. The fund owned 13,212 shares of the real estate investment trust’s stock after purchasing an additional 2,308 shares during the quarter. First Financial Bank Trust Division’s holdings in American Tower were worth $2,920,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. North Capital Inc. purchased a new stake in American Tower during the first quarter valued at $25,000. Hopwood Financial Services Inc. grew 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 purchasing an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in American Tower during the first quarter valued at about $31,000. Lowe Wealth Advisors LLC grew its holdings in American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 109 shares during the period. Finally, City Holding Co. bought a new stake in American Tower during the first quarter valued at about $39,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.7%

Shares of AMT opened at $195.27 on Friday. The business’s 50 day moving average is $210.83 and its 200 day moving average is $213.37. The company has a market capitalization of $91.43 billion, a PE ratio of 71.01, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $241.97. 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 (NYSE:AMT) last issued its 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 company had revenue of $2.63 billion for 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 firm’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter last year, the company earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. HSBC lowered American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a report on Wednesday, July 30th. BMO Capital Markets reissued an “outperform” rating and set a $245.00 price target (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 company an “overweight” rating in a report on Wednesday, July 30th. Barclays boosted their price target on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Finally, Raymond James Financial set a $250.00 price target on American Tower and gave the company a “strong-buy” rating in a 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 assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.