Trust Co. of Toledo NA OH Grows Stock Holdings in American Tower Corporation $AMT

Trust Co. of Toledo NA OH boosted its position in American Tower Corporation (NYSE:AMT) by 1.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,653 shares of the real estate investment trust’s stock after acquiring an additional 135 shares during the period. Trust Co. of Toledo NA OH’s holdings in American Tower were worth $1,912,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Focus Financial Network Inc. boosted its holdings in shares of American Tower by 9.1% in the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock valued at $451,000 after purchasing an additional 170 shares during the last quarter. Resolution Capital Ltd acquired a new position in shares of American Tower in the 1st quarter valued at $72,706,000. Golden State Wealth Management LLC boosted its holdings in shares of American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 69 shares during the last quarter. Shum Financial Group Inc. boosted its holdings in shares of American Tower by 3.5% in the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust’s stock valued at $913,000 after purchasing an additional 141 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its holdings in shares of American Tower by 126.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock valued at $21,215,000 after purchasing an additional 54,360 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AMT shares. Wall Street Zen lowered shares of American Tower from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Wells Fargo & Company reduced their target price on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $242.07.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

American Tower Stock Performance

American Tower stock opened at $186.60 on Friday. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The company has a market capitalization of $87.38 billion, a price-to-earnings ratio of 67.85, a price-to-earnings-growth ratio of 1.12 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s fifty day moving average price is $198.75 and its 200 day moving average price is $210.81.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the firm posted $2.79 EPS. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, research analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.6%. American Tower’s payout ratio is 247.27%.

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.