Quent Capital LLC Acquires 324 Shares of American Tower Corporation $AMT

Quent Capital LLC grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 26.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,533 shares of the real estate investment trust’s stock after purchasing an additional 324 shares during the quarter. Quent Capital LLC’s holdings in American Tower were worth $339,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Focus Financial Network Inc. boosted its position in American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after purchasing an additional 170 shares during the period. Resolution Capital Ltd bought a new position in shares of American Tower in the first quarter valued at approximately $72,706,000. Golden State Wealth Management LLC boosted its position in shares of American Tower by 23.0% in the first 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. Shum Financial Group Inc. boosted its position in shares of American Tower by 3.5% in the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust’s stock valued at $913,000 after acquiring an additional 141 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of American Tower by 126.0% in the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock valued at $21,215,000 after acquiring an additional 54,360 shares during the period. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of analyst reports. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the company a “strong-buy” rating in a research report on Wednesday, July 30th. Hsbc Global Res lowered shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. UBS Group raised their price objective on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price objective on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective for the company. in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $242.07.

American Tower Trading Down 0.6%

Shares of AMT opened at $190.10 on Friday. The firm’s 50 day simple moving average is $201.53 and its 200 day simple moving average is $211.75. The company has a market capitalization of $89.01 billion, a P/E ratio of 69.13, a P/E/G ratio of 1.17 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33.

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, beating analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. American Tower’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the firm posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued 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 is Tuesday, September 30th. American Tower’s payout ratio is presently 247.27%.

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 shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

American Tower Company 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.