American Tower Corporation $AMT Stock Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lifted its stake in shares of American Tower Corporation (NYSE:AMT) by 433.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,516 shares of the real estate investment trust’s stock after buying an additional 6,107 shares during the period. First Citizens Bank & Trust Co.’s holdings in American Tower were worth $1,230,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Raleigh Capital Management Inc. grew its position in American Tower by 489.1% during the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock worth $2,365,000 after acquiring an additional 11,377 shares during the last quarter. Canal Capital Management LLC increased its holdings in American Tower by 81.9% in the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after purchasing an additional 15,520 shares in the last quarter. Bernzott Capital Advisors raised its position in American Tower by 29.3% in the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock valued at $7,276,000 after purchasing an additional 9,556 shares during the last quarter. BIP Wealth LLC bought a new position in American Tower in the second quarter valued at about $1,004,000. Finally, Groupe la Francaise raised its position in American Tower by 319.0% in the second quarter. Groupe la Francaise now owns 33,505 shares of the real estate investment trust’s stock valued at $5,481,000 after purchasing an additional 25,508 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of NYSE:AMT opened at $180.93 on Friday. The firm has a market cap of $84.30 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 2.88 and a beta of 0.88. The firm’s fifty day moving average is $173.32 and its 200-day moving average is $175.29. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $196.08.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate of $1.57 by $1.14. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. American Tower’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Sell-side analysts predict that American Tower Corporation will post 10.80 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Wednesday, September 30th will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 98.49%.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent research reports. Jefferies Financial Group cut their price target on American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Scotiabank restated an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $195.00 to $205.00 in a research note on Friday, June 26th. Truist Financial reaffirmed a “buy” rating and issued a $207.00 price objective (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. Finally, Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

Insiders Place Their Bets

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the transaction, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ruth Dowling sold 1,106 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the completion of the sale, the executive vice president owned 27,711 shares in the company, valued at $4,848,316.56. This trade represents a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is currently owned by company insiders.

American Tower 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.