6,003 Shares in American Tower Corporation $AMT Bought by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida acquired a new stake in American Tower Corporation (NYSE:AMT) during the third quarter, HoldingsChannel reports. The fund acquired 6,003 shares of the real estate investment trust’s stock, valued at approximately $983,000.

A number of other institutional investors have also recently bought and sold shares of AMT. Operose Advisors LLC bought a new stake in shares of American Tower during the 2nd quarter valued at $25,000. Allied Private Wealth LLC bought a new position in shares of American Tower in the 2nd quarter worth $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of American Tower during the second quarter worth $33,000. Kelleher Financial Advisors bought a new stake in American Tower in the second quarter valued at about $37,000. Finally, Cache Advisors LLC bought a new stake in American Tower in the first quarter valued at about $38,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Rajesh Kalathur bought 2,829 shares of American Tower stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average cost of $177.00 per share, with a total value of $500,733.00. Following the purchase, the director owned 7,765 shares in the company, valued at approximately $1,374,405. This trade represents a 57.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the sale, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This represents a 18.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,791 shares of company stock worth $1,204,091 over the last ninety days. Company insiders own 0.08% of the company’s stock.

American Tower Trading Up 0.9%

NYSE:AMT traded up $1.43 on Wednesday, reaching $166.21. The company’s stock had a trading volume of 2,468,829 shares, compared to its average volume of 3,041,912. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $196.08. The business’s 50-day moving average price is $172.88 and its two-hundred day moving average price is $175.11. The firm has a market cap of $77.45 billion, a PE ratio of 22.86, a PEG ratio of 2.61 and a beta of 0.88. 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 (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating the consensus estimate of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the previous year, the business posted $2.60 EPS. American Tower’s revenue for the quarter was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.8 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $7.16 annualized dividend and a dividend yield of 4.3%. American Tower’s dividend payout ratio is currently 98.49%.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent analyst reports. Scotiabank restated an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Truist Financial reaffirmed a “buy” rating and issued a $207.00 price target (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a research note on Wednesday, July 8th. Barclays boosted their price objective on shares of American Tower from $198.00 to $199.00 and gave the company an “overweight” rating in a report on Wednesday, September 30th. Finally, Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $195.00 to $205.00 in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.48.

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.