Quantinno Capital Management LP Increases Holdings in American Tower Corporation $AMT

Quantinno Capital Management LP increased its stake in shares of American Tower Corporation (NYSE:AMT) by 33.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 132,375 shares of the real estate investment trust’s stock after purchasing an additional 32,877 shares during the period. Quantinno Capital Management LP’s holdings in American Tower were worth $22,845,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Richards Merrill & Peterson Inc. purchased a new stake in American Tower in the fourth quarter worth approximately $25,000. Oakworth Capital Inc. grew its position in American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 68 shares during the last quarter. Swiss RE Ltd. bought a new stake in shares of American Tower in the 4th quarter worth approximately $25,000. Triumph Capital Management purchased a new stake in shares of American Tower in the 3rd quarter valued at $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in shares of American Tower during the 4th quarter valued at $29,000. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Citizens Jmp reissued a “market outperform” rating and issued a $260.00 price target on shares of American Tower in a research note on Wednesday, April 29th. JPMorgan Chase & Co. reduced their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. The Goldman Sachs Group set a $210.00 price objective on American Tower in a report on Tuesday. Raymond James Financial restated a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a report on Wednesday, April 29th. Finally, Jefferies Financial Group reduced their price target on American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.19.

Trending Headlines about American Tower

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 American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the sale, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the transaction, the executive vice president owned 27,711 shares in the company, valued at $4,848,316.56. This trade represents a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 6,791 shares of company stock worth $1,204,091. Insiders own 0.08% of the company’s stock.

American Tower Trading Down 0.4%

NYSE AMT opened at $173.82 on Friday. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.43 and a current ratio of 0.52. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $217.39. The stock has a market cap 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 has a 50 day simple moving average of $175.87 and a two-hundred day simple moving average of $178.39.

American Tower Announces Dividend

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

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.