First Horizon Corp Grows Stake in American Tower Corporation $AMT

First Horizon Corp grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 13.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 72,836 shares of the real estate investment trust’s stock after acquiring an additional 8,732 shares during the quarter. First Horizon Corp’s holdings in American Tower were worth $12,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Richards Merrill & Peterson Inc. bought a new stake in shares of American Tower in the 4th quarter worth approximately $25,000. Oakworth Capital Inc. raised its stake in American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 68 shares during the last quarter. Swiss RE Ltd. bought a new stake in American Tower in the fourth quarter worth $25,000. Holos Integrated Wealth LLC purchased a new stake in shares of American Tower in the fourth quarter worth $27,000. Finally, Triumph Capital Management bought a new position in shares of American Tower during the third quarter valued at $29,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $164.78 on Friday. The company has a market cap of $76.77 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 0.69 and a beta of 0.91. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $234.33. The stock’s 50 day simple moving average is $178.85 and its two-hundred day simple moving average is $178.96. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating 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 the consensus estimate of $2.66 billion. During the same period in the prior year, the company earned $2.75 EPS. The company’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. As a group, equities analysts anticipate that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, June 12th. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

Insider Buying and Selling

In other news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction that occurred on Tuesday, April 28th. The stock was 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 in the company, valued at approximately $5,332,446.96. The trade was a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AMT shares. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a research note on Wednesday. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $195.00 to $205.00 in a research report on Friday, June 26th. Barclays decreased their price objective on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Raymond James Financial restated a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lowered their price target on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $215.57.

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.