Cyndeo Wealth Partners LLC Increases Stock Position in American Tower Corporation $AMT

Cyndeo Wealth Partners LLC lifted its holdings in shares of American Tower Corporation (NYSE:AMT) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,495 shares of the real estate investment trust’s stock after acquiring an additional 626 shares during the period. Cyndeo Wealth Partners LLC’s holdings in American Tower were worth $2,762,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. North Capital Inc. purchased a new position in shares of American Tower during the first quarter worth approximately $25,000. Hopwood Financial Services Inc. lifted its holdings in shares of American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower during the first quarter worth $31,000. Saudi Central Bank acquired a new stake in shares of American Tower during the first quarter worth $40,000. Finally, Accredited Wealth Management LLC lifted its holdings in shares of American Tower by 180.0% during the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 135 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was 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 owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on AMT. BMO Capital Markets reaffirmed an “outperform” rating and set a $245.00 price target (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 price target on American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. UBS Group increased their price target on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Finally, Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $242.07.

American Tower Price Performance

American Tower stock opened at $186.60 on Friday. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. 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 business has a fifty day moving average of $198.75 and a two-hundred day moving average of $210.81. The company has a market cap of $87.38 billion, a P/E ratio of 67.85, a price-to-earnings-growth ratio of 1.12 and a beta of 0.86.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the company earned $2.79 earnings per share. American Tower’s quarterly revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a $1.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

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.