American Tower Corporation $AMT Position Lifted by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. boosted its position in American Tower Corporation (NYSE:AMT) by 61.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 233,040 shares of the real estate investment trust’s stock after purchasing an additional 88,495 shares during the quarter. American Tower makes up approximately 1.8% of Quintet Private Bank Europe S.A.’s investment portfolio, making the stock its 17th largest holding. Quintet Private Bank Europe S.A.’s holdings in American Tower were worth $38,146,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of American Tower in the 2nd quarter worth $7,490,943,000. J. Stern & Co. LLP increased its stake in shares of American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after acquiring an additional 37,553,436 shares during the period. State Street Corp raised its stake in shares of American Tower by 0.3% during the 4th quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock valued at $3,719,634,000 after buying an additional 71,605 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in American Tower by 20.4% in the first quarter. Lazard Asset Management LLC now owns 7,325,943 shares of the real estate investment trust’s stock valued at $1,264,311,000 after acquiring an additional 1,240,780 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of American Tower by 0.9% in the 4th quarter. Invesco Ltd. now owns 6,948,190 shares of the real estate investment trust’s stock valued at $1,219,894,000 after purchasing an additional 59,557 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the company. The Goldman Sachs Group set a $210.00 price objective on American Tower in a report on Tuesday, July 28th. Scotiabank reissued an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. TD Cowen raised their price target on shares of American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Truist Financial reiterated a “buy” rating and set a $207.00 price objective (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $214.00 target price on shares of American Tower in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $215.48.

Insider Buying and Selling

In other news, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the transaction, the executive vice president directly owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur purchased 2,829 shares of the stock in a transaction on Friday, August 21st. The shares were purchased at an average price of $177.00 per share, with a total value of $500,733.00. Following the acquisition, the director directly owned 7,765 shares in the company, valued at $1,374,405. This represents a 57.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 6,791 shares of company stock valued at $1,204,091 in the last ninety days. Company insiders own 0.08% of the company’s stock.

American Tower Trading Down 0.4%

Shares of NYSE AMT traded down $0.68 during mid-day trading on Thursday, reaching $165.50. 1,147,910 shares of the company’s stock were exchanged, compared to its average volume of 3,031,643. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market capitalization of $77.12 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 2.65 and a beta of 0.88. The company’s 50-day moving average is $172.61 and its 200-day moving average is $174.99. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $196.08.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $1.14. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Analysts expect that American Tower Corporation will post 10.8 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.79 per share. The ex-dividend date is Wednesday, September 30th. This represents a $7.16 dividend on an annualized basis and a yield of 4.3%. American Tower’s dividend payout ratio is 98.49%.

American Tower Company Profile

American Tower Corporation (NYSE: AMT) is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.