AMG National Trust Bank Has $1.10 Million Stake in American Tower Corporation $AMT

AMG National Trust Bank decreased its stake in American Tower Corporation (NYSE:AMT) by 3.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,953 shares of the real estate investment trust’s stock after selling 153 shares during the period. AMG National Trust Bank’s holdings in American Tower were worth $1,095,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMT. North Capital Inc. acquired a new position in American Tower in the first quarter valued at about $25,000. Hopwood Financial Services Inc. lifted its stake in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares during the period. Rosenberg Matthew Hamilton lifted its stake in American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 80 shares during the period. Saudi Central Bank acquired a new position in American Tower in the first quarter valued at about $40,000. Finally, Accredited Wealth Management LLC lifted its stake in American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 135 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 0.2%

NYSE:AMT opened at $179.18 on Friday. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. The company has a market cap of $83.90 billion, a PE ratio of 28.62, a PEG ratio of 1.08 and a beta of 0.86. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The stock has a 50-day simple moving average of $192.70 and a 200 day simple moving average of $208.05.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.American Tower’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMT. Wells Fargo & Company cut their target price on American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Raymond James Financial restated a “strong-buy” rating and issued a $231.00 price target (down from $250.00) on shares of American Tower in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Citigroup restated a “market outperform” rating on shares of American Tower in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.88.

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.