First Financial Bankshares Inc Has $33.28 Million Position in American Tower Co. (NYSE:AMT)

First Financial Bankshares Inc lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 1.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 143,090 shares of the real estate investment trust’s stock after selling 1,463 shares during the period. First Financial Bankshares Inc’s holdings in American Tower were worth $33,277,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. NBT Bank N A NY raised its stake in shares of American Tower by 3.3% in the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after purchasing an additional 54 shares during the period. CX Institutional boosted its holdings in American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares during the last quarter. O Brien Greene & Co. Inc grew its position in American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 55 shares in the last quarter. CFO4Life Group LLC increased its stake in American Tower by 5.4% in the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 57 shares during the last quarter. Finally, Tyche Wealth Partners LLC lifted its position in American Tower by 4.9% during the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 58 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMT shares. Mizuho lifted their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Royal Bank of Canada boosted their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. TD Cowen raised their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. The Goldman Sachs Group began coverage on shares of American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $237.92.

Insider Buying and Selling

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock worth $7,795,397 in the last three months. 0.18% of the stock is owned by corporate insiders.

American Tower Stock Performance

AMT opened at $222.80 on Monday. The firm has a market cap of $104.07 billion, a P/E ratio of 41.88, a price-to-earnings-growth ratio of 1.09 and a beta of 0.83. The business’s fifty day moving average is $228.80 and its 200-day moving average is $207.84. American Tower Co. has a 52-week low of $162.55 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.46 EPS. Sell-side analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is presently 121.80%.

American Tower 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.