Midwest Trust Co Boosts Position in American Tower Corporation $AMT

Midwest Trust Co raised its holdings in shares of American Tower Corporation (NYSE:AMT) by 12.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 119,749 shares of the real estate investment trust’s stock after acquiring an additional 13,413 shares during the quarter. Midwest Trust Co’s holdings in American Tower were worth $20,666,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Oakworth Capital Inc. lifted its holdings in shares of American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 68 shares in the last quarter. Richards Merrill & Peterson Inc. acquired a new stake in American Tower in the 4th quarter valued at $25,000. Swiss RE Ltd. purchased a new position in American Tower in the fourth quarter valued at about $25,000. Triumph Capital Management purchased a new position in American Tower in the third quarter valued at about $29,000. Finally, Holos Integrated Wealth LLC acquired a new position in shares of American Tower during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 2.2%

NYSE:AMT traded up $3.69 on Friday, reaching $168.69. The stock had a trading volume of 2,458,176 shares, compared to its average volume of 3,439,682. The company has a 50-day moving average of $178.66 and a 200 day moving average of $178.89. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. The stock has a market cap of $78.59 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $234.33.

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

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be issued a dividend of $1.79 per share. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.2%. American Tower’s payout ratio is currently 115.67%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AMT shares. Sanford C. Bernstein raised American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price for the company in a research report on Tuesday, May 19th. Weiss Ratings lowered American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $195.00 to $205.00 in a report on Friday, June 26th. Barclays lowered 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. Finally, Scotiabank lifted their price objective on shares of American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $215.57.

Insider Transactions at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the transaction, the executive vice president directly owned 29,461 shares of the company’s stock, valued at $5,230,505.94. This represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

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.