M&T Bank Corp Cuts Position in American Tower Corporation $AMT

M&T Bank Corp trimmed its position in shares of American Tower Corporation (NYSE:AMT) by 24.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMT. Abound Wealth Management increased its stake 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 last quarter. Root Financial Partners LLC bought a new position in shares of American Tower during the 3rd quarter valued at approximately $32,000. Physician Wealth Advisors Inc. raised its stake in shares of American Tower by 85.9% in the third quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 79 shares during the period. Westside Investment Management Inc. lifted its holdings in shares of 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 acquiring an additional 86 shares during the last quarter. Finally, VSM Wealth Advisory LLC boosted its stake in shares of American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 90 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

Shares of NYSE AMT opened at $184.39 on Friday. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33. The company has a market cap of $85.94 billion, a PE ratio of 34.21, a P/E/G ratio of 0.76 and a beta of 0.92. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 and a current ratio of 0.60. The business has a 50-day simple moving average of $181.42 and a two-hundred day simple moving average of $184.25.

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

American Tower Increases Dividend

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AMT shares. New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target on the stock in a report on Monday, January 5th. Raymond James Financial dropped their target price on shares of American Tower from $231.00 to $229.00 and set a “strong-buy” rating on the stock in a report on Friday, January 23rd. TD Cowen decreased their price objective on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. Mizuho dropped their price objective on American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $217.35.

American Tower Company 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.