Midwest Trust Co Lowers Holdings in American Tower Corporation $AMT

Key Points

• Midwest Trust Co reduced its stake in American Tower by 6.0% in the fourth quarter, selling 6,746 shares and leaving it with 106,336 shares valued at about $18.7 million.
• American Tower reported strong quarterly results, with EPS of $2.84 beating estimates and revenue of $2.74 billion topping expectations; the company also raised its quarterly dividend to $1.79 from $1.70.
• Insider selling and analyst views were mixed: executives recently sold shares, while analysts maintained a consensus rating of “Moderate Buy” with an average price target of $218.05.

Midwest Trust Co lessened its stake in American Tower Corporation (NYSE:AMT - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,336 shares of the real estate investment trust's stock after selling 6,746 shares during the quarter. Midwest Trust Co's holdings in American Tower were worth $18,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Personal CFO Solutions LLC raised its position in shares of American Tower by 3.5% in the 4th quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust's stock worth $293,000 after purchasing an additional 57 shares during the last quarter. Pines Wealth Management LLC raised its position in shares of American Tower by 4.1% in the 3rd quarter. Pines Wealth Management LLC now owns 1,488 shares of the real estate investment trust's stock worth $286,000 after purchasing an additional 58 shares during the last quarter. Pasadena Private Wealth LLC raised its position in shares of American Tower by 4.0% in the 3rd quarter. Pasadena Private Wealth LLC now owns 1,544 shares of the real estate investment trust's stock worth $297,000 after purchasing an additional 60 shares during the last quarter. Conscious Wealth Investments LLC raised its position in American Tower by 0.5% in the 3rd quarter. Conscious Wealth Investments LLC now owns 11,852 shares of the real estate investment trust's stock worth $2,121,000 after buying an additional 60 shares during the last quarter. Finally, Dynamic Wealth Strategies LLC raised its position in American Tower by 19.9% in the 3rd quarter. Dynamic Wealth Strategies LLC now owns 367 shares of the real estate investment trust's stock worth $71,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Buying and Selling

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the company's stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the transaction, the executive vice president directly owned 29,461 shares in the company, valued at $5,230,505.94. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Eugene M. Noel sold 41,209 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total value of $7,872,979.45. Following the completion of the transaction, the chief operating officer owned 29,592 shares of the company's stock, valued at $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 42,181 shares of company stock valued at $8,046,071. 0.08% of the stock is owned by corporate insiders.

American Tower Trading Down 1.8%

American Tower stock opened at $176.45 on Friday. The firm has a 50 day moving average of $179.45 and a 200 day moving average of $179.74. The firm has a market capitalization of $82.24 billion, a price-to-earnings ratio of 28.51, a P/E/G ratio of 0.74 and a beta of 0.90. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07.

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

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were issued a $1.79 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $7.16 annualized dividend and a yield of 4.1%. This is a positive change from American Tower's previous quarterly dividend of $1.70. American Tower's payout ratio is currently 115.67%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AMT shares. TD Cowen decreased their target price on American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. Weiss Ratings downgraded American Tower from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. Morgan Stanley cut their price target on American Tower from $225.00 to $220.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Citizens Jmp restated a "market outperform" rating and set a $260.00 price target on shares of American Tower in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein boosted their price target on American Tower from $205.00 to $207.00 and gave the company a "market perform" rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $218.05.

American Tower 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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