M&T Bank Corp Lowers Holdings in American Tower Corporation $AMT

M&T Bank Corp lowered its stake in shares of American Tower Corporation (NYSE:AMT) by 24.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 207,878 shares of the real estate investment trust’s stock after selling 68,695 shares during the period. M&T Bank Corp’s holdings in American Tower were worth $39,979,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Abound Wealth Management grew its holdings in American Tower by 137.3% during the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 81 shares during the period. VSM Wealth Advisory LLC lifted its holdings in American Tower by 136.4% in the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 90 shares during the period. Root Financial Partners LLC purchased a new stake in American Tower in the 3rd quarter worth approximately $32,000. 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 worth $33,000 after purchasing an additional 86 shares in the last quarter. Finally, Physician Wealth Advisors Inc. grew its stake in shares of American Tower by 85.9% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

American Tower stock opened at $184.39 on Friday. The stock has a market capitalization of $85.94 billion, a P/E ratio of 34.21, a P/E/G ratio of 0.76 and a beta of 0.92. The company’s fifty day moving average price is $181.42 and its 200 day moving average price is $184.25. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 and a current ratio of 0.60. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.79). American Tower had a return on equity of 24.36% and a net margin of 23.76%.The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the company posted $2.62 earnings per share. 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 research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be paid a dividend of $1.79 per share. This is an increase from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date is Tuesday, April 14th. This represents a $7.16 annualized dividend and a yield of 3.9%. American Tower’s dividend payout ratio (DPR) is presently 126.16%.

Insider Buying and Selling

In other news, Director Rajesh Kalathur acquired 2,671 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were bought at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the acquisition, the director owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. This trade represents a 117.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the sale, the chief operating officer owned 29,592 shares of the company’s stock, valued at $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AMT shares. The Goldman Sachs Group cut their target price on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 16th. Barclays restated an “equal weight” rating and set a $200.00 price target (down from $203.00) on shares of American Tower in a research report on Monday, December 1st. Jefferies Financial Group lifted their price objective on shares of American Tower from $200.00 to $209.00 and gave the company a “buy” rating in a report on Thursday, February 26th. JPMorgan Chase & Co. lowered their target price on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Finally, Morgan Stanley dropped their target price on American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. One equities research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $217.35.

About American Tower

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.