NewSquare Capital LLC Buys 282 Shares of American Tower Corporation $AMT

NewSquare Capital LLC increased its stake in shares of American Tower Corporation (NYSE:AMT) by 162.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 456 shares of the real estate investment trust’s stock after acquiring an additional 282 shares during the quarter. NewSquare Capital LLC’s holdings in American Tower were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. J. W. Coons Advisors LLC bought a new position in American Tower during the 2nd quarter worth approximately $230,000. Northcape Wealth Management LLC lifted its holdings in American Tower by 0.7% in the 2nd quarter. Northcape Wealth Management LLC now owns 10,780 shares of the real estate investment trust’s stock worth $2,383,000 after buying an additional 72 shares during the period. Marion Wealth Management lifted its holdings in American Tower by 0.8% in the 2nd quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock worth $1,309,000 after buying an additional 48 shares during the period. Bridgewater Advisors Inc. lifted its holdings in American Tower by 4.7% in the 2nd quarter. Bridgewater Advisors Inc. now owns 3,243 shares of the real estate investment trust’s stock worth $696,000 after buying an additional 145 shares during the period. Finally, Corton Capital Inc. purchased a new stake in American Tower in the 2nd quarter worth approximately $250,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Performance

Shares of AMT opened at $180.37 on Wednesday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The firm has a market capitalization of $84.46 billion, a P/E ratio of 28.81, a PEG ratio of 1.08 and a beta of 0.86. The business has a fifty day moving average of $191.47 and a 200 day moving average of $207.29.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the company posted $2.52 earnings per share. American Tower’s revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. American Tower’s payout ratio is presently 108.63%.

Insider Activity at American Tower

In other news, Director Eugene F. Reilly acquired 5,554 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Argus set a $210.00 target price on American Tower in a research note on Thursday, October 30th. Jefferies Financial Group reduced their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research report on Monday, October 13th. TD Cowen reduced their price objective on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company reduced their target price on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $231.11.

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.