MidFirst Bank Invests $5.11 Million in American Tower Corporation $AMT

Key Points

• MidFirst Bank acquired a new $5.11 million stake in American Tower during the second quarter, purchasing 31,259 shares. Institutional investors collectively own 92.69% of the REIT.
• Analysts remain generally positive, with a “Moderate Buy” consensus rating and an average price target of $215.14 versus the stock’s reported price of $172.12.
• American Tower exceeded quarterly earnings expectations, reporting $2.71 in EPS and $2.75 billion in revenue, while paying a quarterly dividend of $1.79 per share, equivalent to a 4.2% annualized yield.

MidFirst Bank bought a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,259 shares of the real estate investment trust's stock, valued at approximately $5,113,000.

Other hedge funds have also added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. bought a new position in shares of American Tower during the 4th quarter worth approximately $25,000. Oakworth Capital Inc. grew its position in shares of American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after buying an additional 68 shares during the period. Swiss RE Ltd. bought a new stake in shares of American Tower in the 4th quarter valued at $25,000. Allied Private Wealth LLC acquired a new position in shares of American Tower during the 2nd quarter valued at $29,000. Finally, Triumph Capital Management acquired a new position in shares of American Tower during the 3rd quarter valued at $29,000. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Tower

In other news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the sale, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. The trade was a 18.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the transaction, the executive vice president owned 27,711 shares of the company's stock, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 6,791 shares of company stock worth $1,204,091. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on AMT. Wolfe Research upgraded shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price target for the company in a report on Wednesday, July 8th. BMO Capital Markets upped their price objective on shares of American Tower from $190.00 to $195.00 and gave the company a "market perform" rating in a report on Wednesday, July 29th. Sanford C. Bernstein reissued an "outperform" rating and set a $214.00 price objective on shares of American Tower in a research report on Wednesday, July 29th. Weiss Ratings raised American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group dropped 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. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $215.14.

American Tower Trading Down 2.0%

Shares of AMT stock opened at $172.12 on Tuesday. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $214.79. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The company has a 50-day simple moving average of $172.48 and a two-hundred day simple moving average of $177.87. The company has a market capitalization of $80.20 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 2.79 and a beta of 0.90.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The firm had revenue of $2.75 billion for the quarter, compared to analysts' expectations of $2.70 billion. During the same quarter last year, the firm earned $2.60 EPS. The company's quarterly revenue was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Research analysts anticipate that American Tower Corporation will post 10.78 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, June 12th. American Tower's dividend payout ratio (DPR) is 98.49%.

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.

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