American Tower Corporation $AMT Holdings Lowered by First Financial Bankshares Inc

First Financial Bankshares Inc reduced its holdings in American Tower Corporation (NYSE:AMT) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,241 shares of the real estate investment trust’s stock after selling 21,273 shares during the quarter. First Financial Bankshares Inc’s holdings in American Tower were worth $44,813,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC grew its position in American Tower by 113.0% during the fourth 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 in the last quarter. Sivia Capital Partners LLC lifted its stake 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 worth $319,000 after buying an additional 368 shares during the last quarter. United Bank lifted its stake in shares of American Tower by 12.7% in the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after buying an additional 733 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of American Tower by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after buying an additional 4,778 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in American Tower by 52.2% during the 2nd quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after purchasing an additional 11,751 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

Shares of AMT opened at $189.65 on Friday. The stock has a market capitalization of $88.35 billion, a P/E ratio of 30.64, a P/E/G ratio of 0.80 and a beta of 0.90. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33. The company has a 50 day moving average of $180.69 and a 200-day moving average of $179.87. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the business earned $2.75 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities research analysts forecast that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be issued a dividend of $1.79 per share. 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 3.8%. American Tower’s dividend payout ratio (DPR) is currently 115.67%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AMT shares. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Morgan Stanley lowered their target price on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Truist Financial upped their target price on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Barclays decreased their price objective on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, April 16th. Finally, Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price on the stock in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average price target of $216.20.

Insider Buying and Selling at American Tower

In other 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.

American Tower 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.