First Financial Bank Trust Division Cuts Position in American Tower Corporation $AMT

First Financial Bank Trust Division decreased its position in shares of American Tower Corporation (NYSE:AMT) by 89.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,369 shares of the real estate investment trust’s stock after selling 11,693 shares during the period. First Financial Bank Trust Division’s holdings in American Tower were worth $240,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Abound Wealth Management grew its holdings in shares of American Tower by 137.3% in the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 81 shares in the last quarter. Triumph Capital Management purchased a new stake in American Tower during the 3rd quarter worth approximately $29,000. Root Financial Partners LLC acquired a new stake in American Tower during the 3rd quarter worth approximately $32,000. Physician Wealth Advisors Inc. boosted its position in American Tower by 85.9% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 79 shares during the period. Finally, Westside Investment Management Inc. boosted its position in American Tower by 103.6% in the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 86 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AMT shares. Sanford C. Bernstein started coverage on American Tower in a report on Thursday, March 5th. They set a “market perform” rating and a $205.00 price target on the stock. New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective for the company in a research note on Monday, January 5th. Morgan Stanley cut their target price on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a report on Monday, December 29th. Finally, Jefferies Financial Group lifted their price target on shares of American Tower from $200.00 to $209.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.35.

Insiders Place Their Bets

In related news, Director Rajesh Kalathur acquired 2,671 shares of American Tower stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the purchase, the director directly owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eugene M. Noel sold 41,209 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total value 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 0.17% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $180.69 on Thursday. The firm’s fifty day simple moving average is $181.99 and its 200-day simple moving average is $183.67. American Tower Corporation has a 12 month low of $166.88 and a 12 month high of $234.33. The stock has a market capitalization of $84.22 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 0.78 and a beta of 0.92. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.60 and a quick ratio of 0.60.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.79). American Tower had a net margin of 23.76% and a return on equity of 24.36%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the firm earned $2.62 EPS. The business’s revenue was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, equities analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, April 14th. This is an increase from American Tower’s previous quarterly dividend of $1.70. American Tower’s payout ratio is presently 126.16%.

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.