6,003 Shares of American Tower Corporation $AMT Purchased by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida purchased a new position in shares of American Tower Corporation (NYSE:AMT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,003 shares of the real estate investment trust’s stock, valued at approximately $983,000.

Several other large investors also recently modified their holdings of AMT. Riverwater Partners LLC raised its holdings in shares of American Tower by 3.8% in the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 56 shares in the last quarter. Twin City Private Wealth LLC boosted its stake in American Tower by 0.7% in the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after buying an additional 58 shares in the last quarter. Asset Advisory Group Inc. grew its position in American Tower by 3.0% in the first quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 60 shares during the period. Anchor Investment Management LLC raised its stake in American Tower by 2.7% during the fourth quarter. Anchor Investment Management LLC now owns 2,351 shares of the real estate investment trust’s stock worth $413,000 after acquiring an additional 62 shares in the last quarter. Finally, Community Financial Services Group LLC lifted its holdings in shares of American Tower by 1.2% during the second quarter. Community Financial Services Group LLC now owns 5,388 shares of the real estate investment trust’s stock valued at $895,000 after acquiring an additional 65 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. TD Cowen boosted their target price on shares of American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. BMO Capital Markets lifted their price target on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $214.00 price target on shares of American Tower in a research report on Wednesday, July 29th. Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a research note on Wednesday, July 8th. Finally, Mizuho set a $208.00 price objective on shares of American Tower in a report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.48.

Insider Activity

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the transaction, the chief financial officer directly owned 21,428 shares in the company, valued at approximately $3,833,254.92. This trade represents a 18.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rajesh Kalathur bought 2,829 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were purchased at an average price of $177.00 per share, with a total value of $500,733.00. Following the transaction, the director owned 7,765 shares of the company’s stock, valued at $1,374,405. The trade was a 57.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 6,791 shares of company stock valued at $1,204,091 over the last three months. 0.08% of the stock is owned by insiders.

American Tower Price Performance

Shares of NYSE:AMT traded up $1.43 during midday trading on Wednesday, reaching $166.21. The company’s stock had a trading volume of 2,468,829 shares, compared to its average volume of 3,041,912. The business’s fifty day simple moving average is $172.88 and its 200-day simple moving average is $175.11. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $196.08. The company has a market capitalization of $77.45 billion, a P/E ratio of 22.86, a P/E/G ratio of 2.61 and a beta of 0.88.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the company earned $2.60 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, equities research analysts expect that American Tower Corporation will post 10.8 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, September 30th. American Tower’s dividend payout ratio is presently 98.49%.

American Tower Company Profile

American Tower Corporation (NYSE: AMT) is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.