Keybank National Association OH Has $15.36 Million Stock Position in American Tower Corporation $AMT

Keybank National Association OH lowered its position in shares of American Tower Corporation (NYSE:AMT) by 7.7% in the second quarter, HoldingsChannel reports. The firm owned 69,480 shares of the real estate investment trust’s stock after selling 5,830 shares during the period. Keybank National Association OH’s holdings in American Tower were worth $15,356,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 69 shares in the last quarter. Elmwood Wealth Management Inc. increased its stake in shares of American Tower by 2.5% in the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock valued at $454,000 after buying an additional 50 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of American Tower by 22.6% in the first quarter. First Horizon Advisors Inc. now owns 71,953 shares of the real estate investment trust’s stock valued at $15,657,000 after buying an additional 13,248 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of American Tower by 12.6% in the first quarter. Teacher Retirement System of Texas now owns 150,146 shares of the real estate investment trust’s stock valued at $32,672,000 after buying an additional 16,769 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AMT shares. Jefferies Financial Group lowered their price objective on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research report on Monday, October 13th. UBS Group reissued a “buy” rating and issued a $260.00 price target on shares of American Tower in a report on Wednesday. Barclays raised their price target on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Citigroup reissued a “market outperform” rating on shares of American Tower in a research note on Wednesday. Finally, Morgan Stanley lowered their target price on American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $230.88.

American Tower Price Performance

AMT opened at $179.60 on Friday. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The company has a fifty day moving average price of $193.35 and a two-hundred day moving average price of $208.32. The firm has a market capitalization of $84.10 billion, a PE ratio of 28.69, a P/E/G ratio of 1.08 and a beta of 0.86.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the firm earned $2.52 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s payout ratio is presently 247.27%.

American Tower Profile

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.