Strs Ohio Lowers Stake in American Tower Corporation $AMT

Strs Ohio lessened its stake in American Tower Corporation (NYSE:AMT) by 2.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 154,267 shares of the real estate investment trust’s stock after selling 3,881 shares during the period. Strs Ohio’s holdings in American Tower were worth $29,669,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the second quarter valued at $31,000. Abound Wealth Management grew its position in American Tower by 137.3% in the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 81 shares in the last quarter. VSM Wealth Advisory LLC increased its stake in American Tower by 136.4% during the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 90 shares during the period. Root Financial Partners LLC acquired a new stake in shares of American Tower during the third quarter worth about $32,000. Finally, Rosenberg Matthew Hamilton lifted its position in shares of American Tower by 86.0% during the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other American Tower news, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were acquired at an average price of $178.99 per share, with a total value of $994,110.46. Following the transaction, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This trade represents a 91.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMT shares. Raymond James Financial restated a “strong-buy” rating and issued a $231.00 price objective (down previously from $250.00) on shares of American Tower in a report on Wednesday, October 29th. TD Cowen dropped their price target on shares of American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Mizuho cut their price objective on American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Jefferies Financial Group reduced their price objective on American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

American Tower Price Performance

Shares of AMT opened at $178.68 on Friday. The firm has a market capitalization of $83.65 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 0.73 and a beta of 0.92. The firm’s fifty day simple moving average is $177.51 and its 200-day simple moving average is $191.96. American Tower Corporation has a twelve month low of $166.88 and a twelve month high of $234.33. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the firm posted $2.52 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be issued a $1.70 dividend. The ex-dividend date is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. American Tower’s dividend payout ratio is presently 108.63%.

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.