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

Keybank National Association OH lessened its holdings in American Tower Corporation (NYSE:AMT) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HBK Sorce Advisory LLC lifted its holdings in American Tower by 5.7% in the 2nd quarter. HBK Sorce Advisory LLC now owns 1,561 shares of the real estate investment trust’s stock worth $345,000 after purchasing an additional 84 shares during the last quarter. Premier Path Wealth Partners LLC lifted its holdings in American Tower by 15.5% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 4,086 shares of the real estate investment trust’s stock worth $903,000 after purchasing an additional 548 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in American Tower by 4.8% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 7,617 shares of the real estate investment trust’s stock worth $1,683,000 after purchasing an additional 347 shares during the last quarter. Analyst IMS Investment Management Services Ltd. lifted its stake in shares of American Tower by 3.6% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock worth $303,000 after buying an additional 48 shares during the last quarter. Finally, Motco lifted its stake in shares of American Tower by 3.7% in the second quarter. Motco now owns 1,944 shares of the real estate investment trust’s stock worth $405,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.3%

Shares of AMT stock opened at $179.60 on Friday. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The stock has a market cap of $84.10 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 1.08 and a beta of 0.86. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. The firm has a fifty day moving average of $193.35 and a 200-day moving average of $208.32.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the prior year, the company posted $2.52 EPS. The business’s revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group reissued a “buy” rating and set a $260.00 target price on shares of American Tower in a research report on Wednesday. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. The Goldman Sachs Group cut their price target on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company cut their price target on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, BMO Capital Markets cut their target price on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $230.88.

American Tower Company 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.