Modus Advisors LLC Sells 141 Shares of American Tower Corporation $AMT

Modus Advisors LLC trimmed its position in American Tower Corporation (NYSE:AMT) by 5.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,535 shares of the real estate investment trust’s stock after selling 141 shares during the period. Modus Advisors LLC’s holdings in American Tower were worth $560,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. OMNI 360 Wealth Inc. bought a new stake in American Tower during the 2nd quarter worth approximately $523,000. Centurion Wealth Management LLC increased its holdings in American Tower by 5.1% during the 2nd quarter. Centurion Wealth Management LLC now owns 3,723 shares of the real estate investment trust’s stock worth $823,000 after purchasing an additional 180 shares in the last quarter. Crumly & Associates Inc. increased its holdings in American Tower by 5.8% during the 2nd quarter. Crumly & Associates Inc. now owns 1,039 shares of the real estate investment trust’s stock worth $230,000 after purchasing an additional 57 shares in the last quarter. First Financial Bank Trust Division increased its holdings in American Tower by 21.2% during the 2nd quarter. First Financial Bank Trust Division now owns 13,212 shares of the real estate investment trust’s stock worth $2,920,000 after purchasing an additional 2,308 shares in the last quarter. Finally, LVM Capital Management Ltd. MI increased its holdings in American Tower by 62.8% during the 2nd quarter. LVM Capital Management Ltd. MI now owns 5,995 shares of the real estate investment trust’s stock worth $1,325,000 after purchasing an additional 2,313 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on AMT. Barclays upped their target price on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Raymond James Financial set a $250.00 target price on American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $245.00 price objective (down previously from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upped their price objective on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Two investment 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.73.

American Tower Trading Down 0.7%

NYSE:AMT opened at $195.27 on Friday. The company has a market cap of $91.43 billion, a P/E ratio of 71.01, a P/E/G ratio of 1.21 and a beta of 0.86. The stock’s fifty day moving average price is $210.83 and its two-hundred day moving average price is $213.45. American Tower Corporation has a 1 year low of $172.51 and a 1 year 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.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01. The firm 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 business’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.17% of the stock is currently 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.