Solstein Capital LLC Increases Stock Holdings in American Tower Corporation $AMT

Solstein Capital LLC boosted its position in American Tower Corporation (NYSE:AMT) by 6.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,125 shares of the real estate investment trust’s stock after purchasing an additional 68 shares during the period. Solstein Capital LLC’s holdings in American Tower were worth $249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AMT. North Capital Inc. purchased a new position in shares of American Tower during the 1st quarter valued at about $25,000. Hopwood Financial Services Inc. lifted its position in shares of American Tower by 100.0% during the 1st 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. Rosenberg Matthew Hamilton lifted its position in shares of American Tower by 86.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 80 shares in the last quarter. Saudi Central Bank purchased a new position in shares of American Tower during the 1st quarter valued at about $40,000. Finally, Accredited Wealth Management LLC lifted its position in shares of American Tower by 180.0% during the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 135 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

NYSE:AMT opened at $191.36 on Monday. 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 Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The stock’s 50 day simple moving average is $195.30 and its two-hundred day simple moving average is $209.07. The company has a market cap of $89.60 billion, a price-to-earnings ratio of 69.58, a PEG ratio of 1.16 and a beta of 0.86.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company posted $2.79 EPS. The company’s revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. American Tower’s payout ratio is presently 247.27%.

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. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on American Tower from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the company a “sector perform” rating in a research note on Wednesday, October 1st. Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Finally, Barclays lifted their target price on American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $236.75.

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.