Tyche Wealth Partners LLC Acquires 283 Shares of American Tower Corporation $AMT

Tyche Wealth Partners LLC increased its holdings in American Tower Corporation (NYSE:AMT) by 15.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,091 shares of the real estate investment trust’s stock after purchasing an additional 283 shares during the quarter. Tyche Wealth Partners LLC’s holdings in American Tower were worth $462,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AMT. North Capital Inc. purchased a new position in shares of American Tower in the first quarter worth about $25,000. Hopwood Financial Services Inc. grew its position in American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in American Tower during the 1st quarter worth approximately $31,000. City Holding Co. bought a new stake in American Tower in the first quarter valued at approximately $39,000. Finally, Saudi Central Bank purchased a new stake in shares of American Tower during the first quarter valued at approximately $40,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, the chief executive officer 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 can be accessed through this link. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMT has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a research note on Saturday, September 27th. Wells Fargo & Company decreased their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. Finally, Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average target price of $242.07.

American Tower Price Performance

Shares of NYSE AMT opened at $185.46 on Tuesday. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The stock has a market capitalization of $86.84 billion, a P/E ratio of 67.44, a P/E/G ratio of 1.17 and a beta of 0.86. The company’s 50-day moving average is $200.75 and its 200 day moving average is $211.51. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS 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 business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the business posted $2.79 earnings per share. American Tower’s quarterly revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, sell-side analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

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

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.