American Tower Corporation $AMT Shares Acquired by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC boosted its position in American Tower Corporation (NYSE:AMT) by 16.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 537 shares of the real estate investment trust’s stock after buying an additional 76 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in American Tower were worth $119,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Elmwood Wealth Management Inc. boosted its position in shares of 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 buying an additional 50 shares during the period. 4J Wealth Management LLC raised its stake in 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 valued at $283,000 after acquiring an additional 50 shares in the last quarter. TCTC Holdings LLC boosted its position in 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 acquiring an additional 51 shares during the period. Coyle Financial Counsel LLC grew its stake in shares of American Tower by 2.4% in the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust’s stock worth $487,000 after purchasing an additional 53 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. increased its holdings in shares of American Tower by 2.9% during the first 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 purchasing an additional 54 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMT. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Wells Fargo & Company reduced their price target on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. HSBC cut shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective for the company. in a report on Wednesday, July 30th. Royal Bank Of Canada upped their target price on American Tower from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Finally, UBS Group increased their price target on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $244.73.

American Tower Stock Performance

Shares of American Tower stock opened at $194.61 on Wednesday. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $241.46. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The stock has a market cap of $91.13 billion, a PE ratio of 70.77, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The business has a fifty day simple moving average of $209.75 and a 200-day simple moving average of $213.29.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. American Tower’s quarterly 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. On average, sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly 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 Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by company 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.