Stock Yards Bank & Trust Co. Lowers Holdings in American Tower Corporation $AMT

Stock Yards Bank & Trust Co. lessened its stake in American Tower Corporation (NYSE:AMT) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,236 shares of the real estate investment trust’s stock after selling 5,065 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in American Tower were worth $16,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of AMT. Brighton Jones LLC raised its position in American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after buying an additional 2,104 shares during the last quarter. Sivia Capital Partners LLC raised its position in American Tower by 34.3% in the 2nd 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 raised its position in American Tower by 12.7% in the 2nd 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. First Trust Advisors LP raised its position in American Tower by 47.3% in the 2nd quarter. First Trust Advisors LP now owns 109,124 shares of the real estate investment trust’s stock worth $24,119,000 after buying an additional 35,037 shares during the last quarter. Finally, Cresset Asset Management LLC raised its position in American Tower by 23.2% in the 2nd quarter. Cresset Asset Management LLC now owns 5,282 shares of the real estate investment trust’s stock worth $1,173,000 after buying an additional 995 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AMT. UBS Group decreased their target price on American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. TD Cowen decreased their target price on American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. JPMorgan Chase & Co. decreased their target price on American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Raymond James Financial decreased their target price on American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a research report on Friday, January 23rd. Finally, Royal Bank Of Canada cut their price target on American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $216.76.

American Tower Trading Up 1.4%

American Tower stock opened at $176.20 on Tuesday. The business has a 50-day simple moving average of $180.95 and a two-hundred day simple moving average of $181.48. The company has a market cap of $82.12 billion, a P/E ratio of 32.69, a P/E/G ratio of 0.73 and a beta of 0.92. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 3.27.

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

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th will be paid a dividend of $1.79 per share. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. American Tower’s dividend payout ratio is presently 126.16%.

Insider Buying and Selling

In related news, Director Rajesh Kalathur acquired 2,671 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the purchase, the director owned 4,936 shares in the company, valued at $914,640.80. The trade was a 117.92% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Eugene M. Noel sold 41,209 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the transaction, the chief operating officer owned 29,592 shares of the company’s stock, valued at approximately $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. Insiders own 0.17% 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.