Cullen Frost Bankers Inc. Raises Holdings in American Tower Corporation $AMT

Cullen Frost Bankers Inc. lifted its position in American Tower Corporation (NYSE:AMT) by 28.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,739 shares of the real estate investment trust’s stock after buying an additional 14,440 shares during the period. Cullen Frost Bankers Inc.’s holdings in American Tower were worth $14,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AMT. North Capital Inc. purchased a new position in shares of American Tower in the 1st quarter worth $25,000. Hopwood Financial Services Inc. boosted 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. Rosenberg Matthew Hamilton boosted its stake in shares of American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 80 shares during the last quarter. Saudi Central Bank purchased a new position in shares of American Tower in the 1st quarter worth $40,000. Finally, Accredited Wealth Management LLC boosted its stake in shares of American Tower by 180.0% in the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 135 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock opened at $190.92 on Thursday. The stock’s 50-day simple moving average is $195.87 and its 200-day simple moving average is $209.26. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The company has a market capitalization of $89.40 billion, a price-to-earnings ratio of 69.43, a PEG ratio of 1.16 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 quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS 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 business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the business earned $2.79 earnings per share. The business’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. As a group, analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s payout ratio is 247.27%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMT. UBS Group lifted their target price on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. 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 report on Wednesday, July 30th. Citigroup lowered their target price on American Tower from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Wells Fargo & Company lowered their target price on American Tower from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, BMO Capital Markets lowered their target price on American Tower from $245.00 to $220.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $236.75.

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.