Keybank National Association OH Has $9.25 Million Holdings in American Tower Corporation $AMT

Keybank National Association OH lessened its stake in American Tower Corporation (NYSE:AMT) by 8.2% in the first quarter, according to its most recent disclosure with the Securities and 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 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. acquired a new stake in American Tower during the 3rd quarter worth $35,633,000. Nordea Investment Management AB grew its stake in American Tower by 10.4% in the fourth quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock valued at $306,284,000 after acquiring an additional 164,645 shares during the period. Legal & General Group Plc increased its holdings in shares of American Tower by 4.7% in the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after acquiring an additional 220,447 shares in the last quarter. Rathbones Group PLC increased its holdings in shares of American Tower by 14.9% in the fourth quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust’s stock worth $83,258,000 after acquiring an additional 61,428 shares in the last quarter. Finally, Merit Financial Group LLC raised its position in shares of American Tower by 60.6% during the fourth quarter. Merit Financial Group LLC now owns 23,212 shares of the real estate investment trust’s stock worth $4,075,000 after purchasing an additional 8,758 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ruth T. Dowling sold 556 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the transaction, the executive vice president 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

American Tower Stock Down 0.1%

NYSE:AMT opened at $165.84 on Friday. The stock has a 50-day simple moving average of $179.93 and a 200 day simple moving average of $179.30. American Tower Corporation has a 52-week low of $162.27 and a 52-week high of $234.33. The company has a market cap of $77.27 billion, a PE ratio of 26.79, a PEG 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.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business posted $2.75 EPS. The business’s quarterly revenue 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, sell-side analysts expect that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors 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 4.3%. American Tower’s dividend payout ratio is presently 115.67%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMT. JPMorgan Chase & Co. decreased their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Weiss Ratings lowered shares of American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Citizens Jmp reiterated a “market outperform” rating and issued a $260.00 price target on shares of American Tower in a report on Wednesday, April 29th. The Goldman Sachs Group initiated coverage on shares of American Tower in a research report on Friday, June 26th. They set a “buy” rating and a $215.00 price objective for the company. Finally, Truist Financial raised their price objective on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $216.95.

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.