American Tower Co. (NYSE:AMT) Shares Purchased by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC boosted its stake in shares of American Tower Co. (NYSE:AMT) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,416 shares of the real estate investment trust’s stock after acquiring an additional 534 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in American Tower were worth $3,378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of AMT. Balentine LLC acquired a new stake in shares of American Tower during the third quarter worth $586,000. Nordea Investment Management AB lifted its stake in shares of American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after acquiring an additional 314,769 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of American Tower in the third quarter valued at about $1,156,000. Czech National Bank increased its stake in shares of American Tower by 6.9% during the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after acquiring an additional 6,163 shares during the period. Finally, Brookstone Capital Management raised its holdings in American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 1,995 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Down 0.7 %

Shares of AMT opened at $185.17 on Friday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a 50 day simple moving average of $192.08 and a 200-day simple moving average of $211.04. The stock has a market cap of $86.53 billion, a price-to-earnings ratio of 78.13, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $2.58 earnings per share. Equities analysts forecast that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.50%. American Tower’s dividend payout ratio is currently 273.42%.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on AMT. Barclays dropped their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. The Goldman Sachs Group lowered their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Mizuho reduced their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $226.42.

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.