Keybank National Association OH Sells 4,812 Shares of American Tower Corporation $AMT

Keybank National Association OH decreased its stake in shares of American Tower Corporation (NYSE:AMT) by 8.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,618 shares of the real estate investment trust’s stock after selling 4,812 shares during the quarter. Keybank National Association OH’s holdings in American Tower were worth $9,253,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Richards Merrill & Peterson Inc. bought a new position in shares of American Tower in the fourth quarter valued at $25,000. Oakworth Capital Inc. increased its holdings in American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 68 shares during the last quarter. Swiss RE Ltd. bought a new stake in American Tower during the fourth quarter worth $25,000. Holos Integrated Wealth LLC acquired a new stake in American Tower in the fourth quarter valued at $27,000. Finally, Triumph Capital Management acquired a new stake in American Tower in the third quarter valued at $29,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE AMT opened at $165.84 on Friday. The stock has a market cap of $77.27 billion, a PE ratio of 26.79, a P/E/G ratio of 0.69 and a beta of 0.91. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a 50-day moving average of $179.93 and a 200-day moving average of $179.30. American Tower Corporation has a 52-week low of $162.27 and a 52-week high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $1.24. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. American Tower’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, sell-side analysts anticipate that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be given a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.3%. American Tower’s dividend payout ratio is presently 115.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays decreased their price objective on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Jefferies Financial Group raised their target price on shares of American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Sanford C. Bernstein upgraded American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target for the company in a report on Tuesday, May 19th. Truist Financial raised their price objective on American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. reduced their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $216.95.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the completion of the sale, the executive vice president directly owned 29,877 shares of the company’s stock, valued at approximately $5,332,446.96. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.