American Tower Corporation $AMT Stock: Curated Wealth Partners LLC Lowers Holdings

Key Points

• Curated Wealth Partners cut its American Tower stake by 93.9% in the third quarter, selling 163,942 shares and retaining 10,646 shares worth approximately $1.74 million. Institutional investors overall own 92.69% of AMT.
• Analyst sentiment remains positive, with American Tower carrying a “Moderate Buy” consensus rating and an average price target of $215.48. Recent actions included upgrades from RBC and Wolfe Research.
• American Tower reported quarterly EPS of $2.71, well above the $1.57 consensus estimate, while revenue rose 4.6% year over year to $2.75 billion. The company also declared a quarterly dividend of $1.79 per share, yielding approximately 3.9% annually.

Curated Wealth Partners LLC trimmed its stake in American Tower Corporation (NYSE:AMT - Free Report) by 93.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,646 shares of the real estate investment trust's stock after selling 163,942 shares during the period. Curated Wealth Partners LLC's holdings in American Tower were worth $1,743,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Mainsail Asset Management LLC bought a new position in shares of American Tower during the 3rd quarter worth approximately $307,000. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of American Tower by 2.3% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 374,918 shares of the real estate investment trust's stock worth $61,370,000 after purchasing an additional 8,280 shares during the last quarter. William Allan Corp lifted its holdings in American Tower by 4.7% during the 3rd quarter. William Allan Corp now owns 1,391 shares of the real estate investment trust's stock valued at $228,000 after purchasing an additional 62 shares during the last quarter. Mather Group LLC. boosted its position in American Tower by 15.3% in the third quarter. Mather Group LLC. now owns 2,435 shares of the real estate investment trust's stock valued at $399,000 after buying an additional 323 shares in the last quarter. Finally, Tenon Financial LLC acquired a new stake in shares of American Tower during the third quarter worth approximately $244,000. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Rajesh Kalathur bought 2,829 shares of the firm's stock in a transaction on Friday, August 21st. The shares were purchased at an average cost of $177.00 per share, with a total value of $500,733.00. Following the acquisition, the director directly owned 7,765 shares in the company, valued at $1,374,405. This represents a 57.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Joseph Meyer sold 5,000 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the sale, the chief financial officer owned 21,428 shares of the company's stock, valued at $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,791 shares of company stock worth $1,204,091. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

AMT has been the topic of several research analyst reports. BMO Capital Markets increased their target price on American Tower from $190.00 to $195.00 and gave the stock a "market perform" rating in a report on Wednesday, July 29th. Royal Bank Of Canada raised American Tower from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $195.00 to $205.00 in a report on Friday, June 26th. Truist Financial restated a "buy" rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. Mizuho set a $208.00 target price on American Tower in a report on Thursday, August 20th. Finally, Wolfe Research raised shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 target price for the company in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $215.48.

American Tower Stock Performance

American Tower stock traded up $3.17 during mid-day trading on Thursday, hitting $182.56. 872,026 shares of the company's stock traded hands, compared to its average volume of 3,067,837. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a 50 day simple moving average of $173.12 and a two-hundred day simple moving average of $175.21. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $196.08. The stock has a market cap of $85.07 billion, a price-to-earnings ratio of 25.09, a P/E/G ratio of 2.88 and a beta of 0.88.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $1.14. The company had revenue of $2.75 billion during the quarter, compared to analysts' expectations of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. American Tower's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, research analysts expect that American Tower Corporation will post 10.80 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, September 30th. American Tower's dividend payout ratio is presently 98.49%.

American Tower Profile

American Tower Corporation NYSE: AMT is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.

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