Simon Quick Advisors LLC Boosts Stock Position in American Tower Corporation $AMT

Simon Quick Advisors LLC increased its holdings in American Tower Corporation (NYSE:AMT) by 41.2% during the 1st quarter, HoldingsChannel reports. The firm owned 17,025 shares of the real estate investment trust’s stock after buying an additional 4,964 shares during the period. Simon Quick Advisors LLC’s holdings in American Tower were worth $2,938,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC grew its position in American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after acquiring an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC raised its position in American Tower by 34.3% during the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 368 shares during the period. United Bank lifted its stake in shares of American Tower by 12.7% in the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after purchasing an additional 733 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of American Tower by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after purchasing an additional 4,778 shares during the period. Finally, Ieq Capital LLC boosted its holdings in American Tower by 52.2% during the 2nd quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after acquiring an additional 11,751 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other news, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the transaction, the executive vice president owned 29,877 shares in the company, valued at $5,332,446.96. This trade represents a 1.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $195.00 to $205.00 in a research note on Friday, June 26th. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $189.00 to $205.00 in a report on Wednesday, April 15th. Citizens Jmp reiterated a “market outperform” rating and set a $260.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price objective on the stock in a report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. dropped their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $215.57.

American Tower Stock Up 0.7%

Shares of American Tower stock opened at $170.13 on Friday. The firm’s 50 day moving average price is $177.64 and its 200-day moving average price is $178.70. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $234.33. The company has a market cap of $79.26 billion, a P/E ratio of 27.48, a PEG ratio of 0.71 and a beta of 0.91.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the company posted $2.75 earnings per share. American Tower’s revenue for the quarter was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, sell-side analysts predict that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were paid a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.