American Tower Corporation $AMT Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in shares of American Tower Corporation (NYSE:AMT) by 18.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 90,877 shares of the real estate investment trust’s stock after selling 20,834 shares during the period. Truist Financial Corp’s holdings in American Tower were worth $15,955,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oakworth Capital Inc. grew its stake in shares of American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 68 shares during the last quarter. Richards Merrill & Peterson Inc. acquired a new stake in American Tower in the 4th quarter worth approximately $25,000. Triumph Capital Management purchased a new stake in American Tower during the 3rd quarter worth approximately $29,000. Holos Integrated Wealth LLC purchased a new stake in American Tower during the 4th quarter worth approximately $27,000. Finally, Root Financial Partners LLC acquired a new position in American Tower during the 3rd quarter valued at approximately $32,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of NYSE AMT opened at $179.57 on Friday. The company has a 50 day simple moving average of $179.45 and a two-hundred day simple moving average of $179.74. The stock has a market cap of $83.69 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 0.75 and a beta of 0.90. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, analysts predict that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were given a dividend of $1.79 per share. This is an increase from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a yield of 4.0%. The ex-dividend date was Tuesday, April 14th. American Tower’s dividend payout ratio (DPR) is 115.67%.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of the business’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 directly owned 29,877 shares in the company, valued at $5,332,446.96. The trade was a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the sale, the chief operating officer directly owned 29,592 shares in the company, valued at $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 42,181 shares of company stock valued at $8,046,071. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AMT shares. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $189.00 to $205.00 in a research note on Wednesday, April 15th. BMO Capital Markets upped their target price on American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a research report on Wednesday, February 25th. TD Cowen reduced their target price on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. Jefferies Financial Group lifted their price target on American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings lowered American Tower from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average price target of $218.05.

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.