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

MidFirst Bank acquired a new stake in American Tower Corporation (NYSE:AMT) during the second quarter, Holdings Channel reports. The firm acquired 31,259 shares of the real estate investment trust’s stock, valued at approximately $5,113,000.

Several other institutional investors have also added to or reduced their stakes in AMT. Richards Merrill & Peterson Inc. bought a new position in American Tower during the fourth quarter worth about $25,000. Oakworth Capital Inc. raised its position 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 during the period. Swiss RE Ltd. purchased a new stake in shares of American Tower during the 4th quarter valued at approximately $25,000. Allied Private Wealth LLC bought a new position in American Tower in the 2nd quarter worth approximately $29,000. Finally, Triumph Capital Management purchased a new position in American Tower in the 3rd quarter valued at approximately $29,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citizens Jmp reissued a “market outperform” rating and set a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $195.00 to $205.00 in a research report on Friday, June 26th. The Goldman Sachs Group set a $210.00 price objective on American Tower in a research note on Tuesday, July 28th. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Finally, TD Cowen lifted their target price on American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $215.14.

American Tower Stock Down 2.0%

AMT opened at $172.12 on Tuesday. The firm has a market capitalization of $80.20 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.90. American Tower Corporation has a one year low of $160.06 and a one year high of $214.79. The company has a fifty day moving average price of $172.48 and a 200-day moving average price of $177.87. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52.

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

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were paid a $1.79 dividend. 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 is currently 98.49%.

Insider Activity

In related news, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the transaction, the executive vice president owned 27,711 shares of the company’s stock, valued at $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the transaction, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 6,791 shares of company stock worth $1,204,091. Insiders own 0.08% of the company’s stock.

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.