Quantinno Capital Management LP Increases Stock Position in American Tower Corporation $AMT

Quantinno Capital Management LP raised its holdings in shares of American Tower Corporation (NYSE:AMT) by 33.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 132,375 shares of the real estate investment trust’s stock after acquiring an additional 32,877 shares during the quarter. Quantinno Capital Management LP’s holdings in American Tower were worth $22,845,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Richards Merrill & Peterson Inc. bought a new position in shares of American Tower during the fourth quarter valued at $25,000. Oakworth Capital Inc. increased its holdings in American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 68 shares in the last quarter. Swiss RE Ltd. purchased a new position in American Tower in the 4th quarter worth about $25,000. Triumph Capital Management bought a new position in American Tower during the 3rd quarter valued at about $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in American Tower during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.4%

NYSE AMT opened at $173.82 on Friday. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $217.39. The company has a quick ratio of 0.43, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. The company has a market capitalization of $80.98 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The stock’s 50-day moving average price is $175.87 and its 200-day moving average price is $178.39.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.1%. American Tower’s payout ratio is currently 98.49%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AMT shares. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target for the company in a research note on Wednesday, July 8th. Barclays cut their target price on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. The Goldman Sachs Group set a $210.00 price target on American Tower in a report on Tuesday. TD Cowen raised their price target on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Scotiabank reissued an “outperform” rating on shares of American Tower in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average price target of $215.19.

American Tower News Summary

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Analysts raised their valuation expectations for American Tower. One firm lifted its price target to $220, while BMO Capital Markets increased its target to $195, suggesting potential upside from recent trading levels. American Tower Price Target Raised to $220 BMO Raises American Tower Price Target
• Positive Sentiment: American Tower’s latest results were stronger than expected, with revenue up 6.8% year over year to $2.74 billion and EPS of $2.84 versus the $1.60 consensus estimate. Record CoreSite data-center leasing and continued demand from cloud and artificial-intelligence infrastructure provide additional growth support.
• Neutral Sentiment: EVP Ruth Dowling sold 1,791 shares across two transactions for approximately $309,641 under a pre-arranged Rule 10b5-1 plan. Because the sales were scheduled and she retained a sizable stake, the transactions are a limited signal about management’s outlook. SEC Insider Trading Filing
• Negative Sentiment: CFO Robert Joseph Meyer sold 5,000 shares worth approximately $894,450, reducing his ownership by 18.92%. Although the sale does not necessarily indicate deteriorating fundamentals, the larger transaction may weigh on investor sentiment. CFO SEC Insider Trading Filing
• Negative Sentiment: American Tower remains highly leveraged, with a debt-to-equity ratio of 3.12, making it sensitive to higher interest rates. Rising borrowing costs can pressure REIT valuations and reduce the appeal of its approximately 4.1% dividend yield.

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 1,106 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the sale, the executive vice president directly owned 27,711 shares in the company, valued at $4,848,316.56. This trade represents a 3.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the sale, the chief financial officer owned 21,428 shares of the company’s stock, valued at $3,833,254.92. The trade was a 18.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 6,791 shares of company stock valued at $1,204,091. Corporate insiders own 0.08% of the company’s stock.

American Tower Company Profile

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.