Cerro Pacific Wealth Advisors LLC Trims Position in American Tower Corporation $AMT

Cerro Pacific Wealth Advisors LLC decreased its position in shares of American Tower Corporation (NYSE:AMT) by 22.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,036 shares of the real estate investment trust’s stock after selling 300 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in American Tower were worth $229,000 as of its most recent SEC filing.

Other institutional investors and 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 valued at approximately $25,000. Hopwood Financial Services Inc. lifted its stake 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 valued at $26,000 after buying an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of American Tower during the first quarter valued at approximately $31,000. Saudi Central Bank purchased a new position in American Tower during the first quarter worth approximately $40,000. Finally, Accredited Wealth Management LLC raised its stake in 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. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at $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 the SEC website. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. increased their price target on shares of American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Wells Fargo & Company cut their price target on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, UBS Group increased their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Two research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.07.

American Tower Price Performance

American Tower stock opened at $186.60 on Monday. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The firm has a fifty day moving average of $198.75 and a 200-day moving average of $210.80. The firm has a market capitalization of $87.38 billion, a P/E ratio of 67.85, a PEG ratio of 1.13 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the business earned $2.79 earnings per share. The business’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 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.6%. American Tower’s payout ratio is 247.27%.

About American Tower

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.