Kingswood Wealth Advisors LLC Trims Stock Position in American Tower Corporation $AMT

Kingswood Wealth Advisors LLC cut its position in shares of American Tower Corporation (NYSE:AMT) by 19.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,249 shares of the real estate investment trust’s stock after selling 537 shares during the period. Kingswood Wealth Advisors LLC’s holdings in American Tower were worth $497,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMT. Brighton Jones LLC raised its stake in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares during the period. Farther Finance Advisors LLC raised its stake in American Tower by 43.2% during the first quarter. Farther Finance Advisors LLC now owns 3,233 shares of the real estate investment trust’s stock worth $710,000 after purchasing an additional 975 shares during the period. Wealthcare Advisory Partners LLC raised its stake in American Tower by 5.1% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,932 shares of the real estate investment trust’s stock worth $638,000 after purchasing an additional 143 shares during the period. GAMMA Investing LLC raised its stake 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 worth $1,702,000 after purchasing an additional 648 shares during the period. Finally, Integrated Advisors Network LLC raised its stake in American Tower by 3.9% during the first quarter. Integrated Advisors Network LLC now owns 10,456 shares of the real estate investment trust’s stock worth $2,275,000 after purchasing an additional 390 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of AMT opened at $185.16 on Friday. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The firm’s 50 day moving average price is $199.26 and its 200 day moving average price is $210.97. The company has a market cap of $86.70 billion, a P/E ratio of 67.33, a PEG 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) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the firm earned $2.79 EPS. The firm’s revenue for the quarter 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, research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 30th. American Tower’s payout ratio is 247.27%.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the business’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 transaction 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. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. UBS Group boosted their price target on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. HSBC downgraded shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target on the stock. in a research note on Wednesday, July 30th. Barclays boosted their price target on shares of American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Finally, Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $242.07.

American Tower 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.