MidFirst Bank Takes Position in American Tower Corporation $AMT

MidFirst Bank bought a new stake in shares of American Tower Corporation (NYSE:AMT) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 24,590 shares of the real estate investment trust’s stock, valued at approximately $4,317,000.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of 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 during the period. Sivia Capital Partners LLC lifted its holdings in shares of American Tower by 34.3% in the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 368 shares during the period. United Bank boosted its stake in American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 733 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in American Tower by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock valued at $48,295,000 after buying an additional 4,778 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in American Tower by 52.2% during the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock worth $7,570,000 after acquiring an additional 11,751 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on AMT. Jefferies Financial Group boosted their price target on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Morgan Stanley lowered their price objective on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. JPMorgan Chase & Co. dropped their target price on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Barclays reduced their target price on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. Finally, Scotiabank lifted their price target on shares of American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $216.20.

American Tower Stock Down 3.0%

NYSE:AMT opened at $175.66 on Friday. The firm has a market capitalization of $81.84 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 0.76 and a beta of 0.90. American Tower Corporation has a 1-year low of $165.08 and a 1-year high of $234.33. 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 business’s fifty day moving average price is $181.60 and its 200 day moving average price is $179.94.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 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 firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company 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 forecast that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. American Tower’s dividend payout ratio is 115.67%.

Insider Activity

In related news, EVP Ruth T. Dowling sold 416 shares of American Tower stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.

About American Tower

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.