Quintet Private Bank Europe S.A. Increases Position in American Tower Corporation $AMT

Quintet Private Bank Europe S.A. lifted its holdings in shares of American Tower Corporation (NYSE:AMT) by 6.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,922 shares of the real estate investment trust’s stock after acquiring an additional 9,473 shares during the quarter. American Tower accounts for about 1.7% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 16th largest position. Quintet Private Bank Europe S.A.’s holdings in American Tower were worth $30,179,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Werlinich Asset Management LLC grew its stake in American Tower by 7.7% in the 3rd quarter. Werlinich Asset Management LLC now owns 9,085 shares of the real estate investment trust’s stock valued at $1,747,000 after purchasing an additional 650 shares during the period. Oak Thistle LLC purchased a new position in shares of American Tower in the 3rd quarter worth about $2,101,000. Shorepoint Capital Partners LLC purchased a new stake in American Tower during the third quarter worth about $3,042,000. Jacobs & Co. CA increased its holdings in American Tower by 1.3% during the third quarter. Jacobs & Co. CA now owns 35,720 shares of the real estate investment trust’s stock worth $6,869,000 after buying an additional 472 shares during the last quarter. Finally, Caldwell Trust Co bought a new stake in American Tower in the second quarter worth about $1,053,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Eugene F. Reilly acquired 5,554 shares of American Tower stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the purchase, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the sale, the insider owned 211,379 shares in the company, valued at $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.18% of the stock is currently owned by company insiders.

American Tower Trading Down 0.5%

NYSE:AMT opened at $179.28 on Wednesday. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The stock’s fifty day moving average price is $182.57 and its two-hundred day moving average price is $199.85. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $83.93 billion, a P/E ratio of 28.64, a P/E/G ratio of 0.72 and a beta of 0.91.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s dividend payout ratio is presently 108.63%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMT. JPMorgan Chase & Co. reduced their target price on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Wells Fargo & Company reduced their price objective on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Jefferies Financial Group lowered their target price on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $231.00 price target (down previously from $250.00) on shares of American Tower in a research report on Wednesday, October 29th. Finally, Argus set a $210.00 price target on American Tower in a research note on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.00.

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.