MQS Management LLC Invests $336,000 in American Tower Corporation $AMT

MQS Management LLC acquired a new position in American Tower Corporation (NYSE:AMT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,522 shares of the real estate investment trust’s stock, valued at approximately $336,000.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of American Tower by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock worth $13,667,344,000 after acquiring an additional 434,118 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after acquiring an additional 2,309,627 shares in the last quarter. Deutsche Bank AG increased its position in American Tower by 4.0% in the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock valued at $1,606,621,000 after buying an additional 285,195 shares in the last quarter. Dimensional Fund Advisors LP increased its position in American Tower by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock valued at $1,421,965,000 after buying an additional 88,120 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in American Tower by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust’s stock valued at $1,335,407,000 after buying an additional 220,565 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

Shares of NYSE AMT opened at $191.36 on Monday. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The stock’s 50 day moving average price is $195.30 and its 200-day moving average price is $209.07. The company has a market capitalization of $89.60 billion, a PE ratio of 69.58, a PEG ratio of 1.16 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share 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 firm 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 business earned $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. On average, equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Jefferies Financial Group decreased their target price on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. BMO Capital Markets decreased their target price on American Tower from $245.00 to $220.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Barclays lifted their price target 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 equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average price target of $236.75.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the business’s 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 transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is 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.