Stratos Wealth Partners LTD. Has $2.66 Million Position in American Tower Corporation $AMT

Stratos Wealth Partners LTD. raised its holdings in American Tower Corporation (NYSE:AMT) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,048 shares of the real estate investment trust’s stock after buying an additional 497 shares during the period. Stratos Wealth Partners LTD.’s holdings in American Tower were worth $2,663,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new stake in shares of American Tower during the 1st quarter worth about $991,525,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after acquiring an additional 2,309,627 shares during the period. Bessemer Group Inc. lifted its holdings in shares of American Tower by 272.0% during the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock worth $247,390,000 after acquiring an additional 831,247 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of American Tower during the 1st quarter worth approximately $162,127,000. Finally, Amundi increased its position in American Tower by 35.5% during the 1st quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock worth $645,694,000 after purchasing an additional 743,617 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

NYSE AMT opened at $191.60 on Monday. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The company has a 50-day simple moving average of $196.63 and a 200 day simple moving average of $209.70. 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 company has a market capitalization of $89.72 billion, a PE ratio of 69.67, a price-to-earnings-growth ratio of 1.16 and a beta of 0.86.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.58 billion. During the same quarter last year, the company posted $2.79 earnings per share. The firm’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. On average, research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a $1.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. American Tower’s dividend payout ratio (DPR) is presently 247.27%.

Insider Buying and Selling 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AMT shares. Wells Fargo & Company lowered their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 price objective on shares of American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $238.00.

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.