Syntax Research Inc. Cuts Stock Position in American Tower Corporation $AMT

Syntax Research Inc. lowered its stake in American Tower Corporation (NYSE:AMT) by 98.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 235 shares of the real estate investment trust’s stock after selling 15,355 shares during the period. Syntax Research Inc.’s holdings in American Tower were worth $52,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. North Capital Inc. purchased a new stake in shares of American Tower in the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. grew its stake in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower during the 1st quarter valued at $31,000. City Holding Co. purchased a new stake in American Tower during the 1st quarter valued at $39,000. Finally, Saudi Central Bank purchased a new stake in American Tower during the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, CEO Juan Font sold 720 shares of the firm’s 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 transaction, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AMT. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a research note on Wednesday, July 30th. UBS Group increased their target price on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $245.00 target price (down from $250.00) on shares of American Tower 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 four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $242.07.

American Tower Stock Performance

AMT stock opened at $191.03 on Friday. The company has a market cap of $89.45 billion, a P/E ratio of 69.47, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s fifty day moving average price is $202.32 and its 200-day moving average price is $211.93.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period last year, the business posted $2.79 EPS. 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 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

About American Tower

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.