Cyndeo Wealth Partners LLC Acquires 4,938 Shares of American Tower Co. (NYSE:AMT)

Cyndeo Wealth Partners LLC grew its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 38.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,882 shares of the real estate investment trust's stock after buying an additional 4,938 shares during the period. Cyndeo Wealth Partners LLC's holdings in American Tower were worth $4,159,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. NBT Bank N A NY lifted its position in shares of American Tower by 3.3% in the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust's stock worth $329,000 after purchasing an additional 54 shares during the period. CX Institutional raised its position in shares of American Tower by 2.9% in the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust's stock worth $450,000 after acquiring an additional 54 shares in the last quarter. O Brien Greene & Co. Inc lifted its stake in shares of American Tower by 2.3% in the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust's stock valued at $481,000 after purchasing an additional 55 shares during the period. CFO4Life Group LLC boosted its position in shares of American Tower by 5.4% during the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust's stock valued at $221,000 after purchasing an additional 57 shares in the last quarter. Finally, Tyche Wealth Partners LLC grew its stake in American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust's stock worth $242,000 after purchasing an additional 58 shares during the period. Institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

Shares of American Tower stock traded up $2.14 during trading on Friday, hitting $226.30. 1,441,933 shares of the company's stock traded hands, compared to its average volume of 1,996,245. American Tower Co. has a 1 year low of $157.25 and a 1 year high of $243.56. The business has a 50-day simple moving average of $228.62 and a 200-day simple moving average of $206.61. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $105.70 billion, a P/E ratio of 42.54, a PEG ratio of 1.03 and a beta of 0.83.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.52). The company had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business's revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.46 EPS. As a group, analysts forecast that American Tower Co. will post 10.12 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 2.86%. American Tower's payout ratio is 121.80%.

Analysts Set New Price Targets

AMT has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a report on Thursday, August 15th. The Goldman Sachs Group initiated coverage on shares of American Tower in a report on Monday, July 1st. They issued a "buy" rating and a $230.00 price objective on the stock. Mizuho lifted their target price on shares of American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. Wells Fargo & Company downgraded American Tower from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, Barclays lifted their price objective on American Tower from $223.00 to $255.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $237.92.

Insider Transactions at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of the company's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Steven O. Vondran sold 21,537 shares of the business's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the sale, the chief executive officer now owns 61,843 shares of the company's stock, valued at $14,223,890. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Olivier Puech sold 10,005 shares of the firm's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock worth $7,795,397 in the last ninety days. Insiders own 0.18% 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.