American Tower Corporation $AMT Shares Sold by First Financial Bankshares Inc

Key Points

• First Financial Bankshares cut its stake in American Tower by 7.7% in the fourth quarter, selling 21,273 shares and leaving it with 255,241 shares valued at about $44.8 million.
• American Tower reported better-than-expected quarterly earnings of $2.84 per share versus the $1.60 consensus estimate, while revenue rose 6.8% year over year to $2.74 billion.
• The company declared a quarterly dividend of $1.79 per share, implying an annualized payout of $7.16 and a 3.8% yield, though its payout ratio is high at 115.67%.

First Financial Bankshares Inc reduced its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 255,241 shares of the real estate investment trust's stock after selling 21,273 shares during the quarter. First Financial Bankshares Inc owned 0.05% of American Tower worth $44,813,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Richards Merrill & Peterson Inc. acquired a new position in American Tower during the fourth quarter worth about $25,000. Oakworth Capital Inc. lifted its holdings in shares of American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 68 shares in the last quarter. Holos Integrated Wealth LLC purchased a new stake in shares of American Tower in the fourth quarter valued at about $27,000. Triumph Capital Management purchased a new stake in shares of American Tower in the third quarter valued at about $29,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of American Tower in the fourth quarter valued at about $30,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMT. Citizens Jmp reaffirmed a "market outperform" rating and issued a $260.00 price target on shares of American Tower in a report on Wednesday, April 29th. UBS Group reduced their price target on shares of American Tower from $254.00 to $248.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. BMO Capital Markets upped their price target on shares of American Tower from $185.00 to $200.00 and gave the company a "market perform" rating in a report on Wednesday, February 25th. Sanford C. Bernstein raised shares of American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 price objective for the company in a research report on Tuesday, May 19th. Finally, Truist Financial boosted their price objective on shares of American Tower from $205.00 to $208.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $216.20.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the firm's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the completion of the transaction, the executive vice president directly owned 29,877 shares of the company's stock, valued at $5,332,446.96. This trade represents a 1.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by corporate insiders.

American Tower Stock Performance

NYSE:AMT opened at $189.65 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The company has a market cap of $88.35 billion, a P/E ratio of 30.64, a P/E/G ratio of 0.80 and a beta of 0.90. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33. The firm's 50 day moving average is $180.69 and its two-hundred day moving average is $179.87.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same period in the prior year, the company earned $2.75 EPS. The firm's revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts expect that American Tower Corporation will post 10.67 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, June 12th. American Tower's dividend payout ratio (DPR) is currently 115.67%.

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.

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