Solstein Capital LLC Buys 68 Shares of American Tower Corporation $AMT

Solstein Capital LLC increased its stake in shares of American Tower Corporation (NYSE:AMT) by 6.4% during the 2nd quarter, according to the company in its most recent 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 quarter. Solstein Capital LLC’s holdings in American Tower were worth $249,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AMT. Brighton Jones LLC increased its position in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares during the last quarter. GAMMA Investing LLC increased its position in shares of American Tower by 9.0% during the 1st quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust’s stock valued at $1,702,000 after purchasing an additional 648 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in American Tower by 1.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 9,244 shares of the real estate investment trust’s stock valued at $2,012,000 after acquiring an additional 148 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in American Tower by 35.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,053 shares of the real estate investment trust’s stock valued at $16,610,000 after acquiring an additional 20,138 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in American Tower by 23.0% during the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 69 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of AMT stock 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 has a market capitalization of $89.60 billion, a price-to-earnings ratio of 69.58, a P/E/G ratio of 1.16 and a beta of 0.86. The stock has a fifty day simple moving average of $195.30 and a two-hundred day simple moving average of $209.07. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the business earned $2.79 EPS. The business’s revenue for the quarter 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, analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were paid a dividend of $1.70 per share. 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 dividend payout ratio is 247.27%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AMT shares. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a report on Friday. Jefferies Financial Group dropped their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a report on Monday, October 13th. Finally, BMO Capital Markets dropped their price objective on American Tower from $245.00 to $220.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $236.75.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.18% of the stock is owned by company 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.