Intrust Bank NA Raises Stock Holdings in American Tower Corporation $AMT

Intrust Bank NA boosted its position in American Tower Corporation (NYSE:AMT) by 13.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,323 shares of the real estate investment trust’s stock after purchasing an additional 640 shares during the quarter. Intrust Bank NA’s holdings in American Tower were worth $1,176,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its position in shares of American Tower by 9.4% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 194,073 shares of the real estate investment trust’s stock worth $42,894,000 after buying an additional 16,664 shares during the period. Raiffeisen Bank International AG lifted its position in American Tower by 285.2% during the 2nd quarter. Raiffeisen Bank International AG now owns 154,803 shares of the real estate investment trust’s stock valued at $34,091,000 after acquiring an additional 114,612 shares during the period. Summitry LLC purchased a new position in American Tower during the 2nd quarter valued at about $221,000. Rockefeller Capital Management L.P. boosted its stake in American Tower by 1.3% during the second quarter. Rockefeller Capital Management L.P. now owns 101,385 shares of the real estate investment trust’s stock worth $22,849,000 after acquiring an additional 1,278 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in American Tower by 829.0% in the second quarter. Westwood Holdings Group Inc. now owns 163,249 shares of the real estate investment trust’s stock worth $36,081,000 after purchasing an additional 145,677 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

AMT stock opened at $180.41 on Tuesday. The stock’s 50 day simple moving average is $188.10 and its 200 day simple moving average is $204.98. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The stock has a market capitalization of $84.46 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 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 analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were given a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. American Tower’s payout ratio is 108.63%.

Insider Transactions at American Tower

In related news, Director Eugene F. Reilly purchased 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. The trade was a 4,114.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMT. Barclays lowered their target price on shares of American Tower from $251.00 to $203.00 and set an “overweight” rating for the company in a report on Monday. Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Argus set a $210.00 target price on American Tower in a report on Thursday, October 30th. The Goldman Sachs Group cut their target price on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Finally, Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average target price of $228.44.

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.