Stock Yards Bank & Trust Co. Sells 3,478 Shares of American Tower Corporation $AMT

Stock Yards Bank & Trust Co. trimmed its holdings in shares of American Tower Corporation (NYSE:AMT) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,777 shares of the real estate investment trust’s stock after selling 3,478 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in American Tower were worth $22,274,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AMT. North Capital Inc. bought a new stake in shares of American Tower during the first quarter worth $25,000. Hopwood Financial Services Inc. lifted its stake in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower in the first quarter worth about $31,000. City Holding Co. purchased a new stake in American Tower in the first quarter worth about $39,000. Finally, Saudi Central Bank purchased a new stake in American Tower in the first quarter worth about $40,000. 92.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMT. Royal Bank Of Canada set a $220.00 price objective on shares of American Tower and gave the stock a “sector perform” rating in a research note on Wednesday. Hsbc Global Res lowered shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Wall Street Zen lowered shares of American Tower from a “hold” rating to a “sell” rating in a research note on Saturday. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Finally, UBS Group boosted their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $242.07.

Insider Buying and Selling

In related news, CEO Juan Font sold 720 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

American Tower Stock Performance

AMT opened at $190.10 on Friday. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a market cap of $89.01 billion, a P/E ratio of 69.13, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The firm’s 50-day moving average price is $201.53 and its 200-day moving average price is $211.76.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a $1.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. American Tower’s dividend payout ratio is currently 247.27%.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.