Quintet Private Bank Europe S.A. Raises Stock Position in American Tower Corporation $AMT

Key Points

• Quintet Private Bank Europe S.A. increased its holdings in American Tower Corporation by 2.4%, owning 147,449 shares valued at approximately $32.6 million, making it the 14th largest holding in their portfolio.
• CEO Juan Font sold 720 shares of American Tower stock, reflecting a 2.98% decrease in his position, with remaining shares valued at around $4.88 million.
• American Tower has experienced a decrease in revenue of 9.4% year-over-year, reporting $2.63 billion for the quarter, alongside a quarterly EPS of $2.60 against an estimate of $2.59.

Quintet Private Bank Europe S.A. grew its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 147,449 shares of the real estate investment trust's stock after acquiring an additional 3,471 shares during the period. American Tower comprises approximately 1.9% of Quintet Private Bank Europe S.A.'s holdings, making the stock its 14th biggest holding. Quintet Private Bank Europe S.A.'s holdings in American Tower were worth $32,589,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Resolution Capital Ltd acquired a new stake in American Tower during the 1st quarter valued at $72,706,000. Golden State Wealth Management LLC grew 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 purchasing an additional 69 shares in the last quarter. Shum Financial Group Inc. grew its holdings in American Tower by 3.5% during the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock valued at $913,000 after purchasing an additional 141 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in American Tower by 126.0% during the 1st 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 purchasing an additional 54,360 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc grew its holdings in American Tower by 13.3% during the 1st quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust's stock valued at $50,487,000 after purchasing an additional 27,194 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated 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 transaction, the chief executive officer directly owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company's stock.

American Tower Trading Down 0.7%

NYSE AMT opened at $195.27 on Monday. American Tower Corporation has a one year low of $172.51 and a one year high of $241.97. The company has a 50-day simple moving average of $210.83 and a 200-day simple moving average of $213.52. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $91.43 billion, a PE ratio of 71.01, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the business posted $2.79 EPS. The company's quarterly revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMT. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. Royal Bank Of Canada raised their price objective on shares of American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Bank of America started coverage on shares of American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective for the company. Hsbc Global Res lowered shares of American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $244.73.

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.

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