Atria Wealth Solutions Inc. Cuts Stake in American Tower Corporation $AMT

Key Points

• Atria Wealth Solutions Inc. reduced its stake in American Tower Corporation by 40.9%, selling 4,953 shares and leaving it with 7,146 shares valued at approximately $1.59 million.
• American Tower's quarterly earnings showed a net margin of 12.60% and revenue of $2.63 billion, despite a 9.4% decline year-over-year.
• The company announced a $1.70 dividend to be paid on October 20th, with an annualized yield of 3.6% and a payout ratio of 247.27%.

Atria Wealth Solutions Inc. reduced its stake in American Tower Corporation (NYSE:AMT - Free Report) by 40.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 7,146 shares of the real estate investment trust's stock after selling 4,953 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in American Tower were worth $1,589,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMT. Brighton Jones LLC boosted its holdings in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after buying an additional 2,104 shares during the last quarter. GAMMA Investing LLC lifted its holdings in American Tower by 9.0% during the first quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust's stock valued at $1,702,000 after purchasing an additional 648 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in American Tower by 0.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 276,533 shares of the real estate investment trust's stock valued at $60,174,000 after purchasing an additional 1,205 shares during the last quarter. Grimes & Company Inc. purchased a new stake in American Tower during the first quarter valued at about $235,000. Finally, NBT Bank N A NY lifted its holdings in American Tower by 39.9% during the first quarter. NBT Bank N A NY now owns 2,050 shares of the real estate investment trust's stock valued at $446,000 after purchasing an additional 585 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Up 0.7%

Shares of AMT opened at $191.44 on Friday. The business's 50-day moving average price is $196.93 and its 200-day moving average price is $210.08. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The stock has a market cap of $89.64 billion, a PE ratio of 69.61, a P/E/G ratio of 1.15 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. During the same period in the prior year, the business posted $2.79 earnings per share. The company's revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

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

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent research reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Citigroup dropped their price objective on shares of American Tower from $250.00 to $225.00 and set a "buy" rating on the stock in a report on Thursday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of American Tower in a report on Wednesday, October 8th. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Two research 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $239.50.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This 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 accessible through the SEC website. Company insiders own 0.17% of the company's stock.

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.

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