Strs Ohio Acquires 22,522 Shares of American Tower Corporation $AMT

Strs Ohio boosted its holdings in shares of American Tower Corporation (NYSE:AMT) by 15.0% in the first quarter, Holdings Channel.com reports. The fund owned 172,521 shares of the real estate investment trust’s stock after acquiring an additional 22,522 shares during the quarter. Strs Ohio’s holdings in American Tower were worth $29,774,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. J. Stern & Co. LLP lifted its position in shares of American Tower by 28,121.1% during the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after purchasing an additional 37,553,436 shares during the last quarter. State Street Corp grew its holdings in shares of American Tower by 0.3% in the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock worth $3,719,634,000 after purchasing an additional 71,605 shares during the last quarter. Geode Capital Management LLC increased its stake in American Tower by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock worth $2,361,675,000 after buying an additional 227,361 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in American Tower by 20,721.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after buying an additional 9,666,025 shares during the period. Finally, Invesco Ltd. lifted its holdings in American Tower by 0.9% during the 4th quarter. Invesco Ltd. now owns 6,948,190 shares of the real estate investment trust’s stock valued at $1,219,894,000 after buying an additional 59,557 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other news, EVP Ruth T. Dowling sold 556 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at approximately $5,332,446.96. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

American Tower Price Performance

NYSE AMT opened at $165.84 on Friday. The company has a market cap of $77.27 billion, a PE ratio of 26.79, a P/E/G ratio of 0.69 and a beta of 0.91. The firm’s 50 day moving average price is $179.93 and its 200-day moving average price is $179.30. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. American Tower Corporation has a 52-week low of $162.27 and a 52-week high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. American Tower’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be issued a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.3%. American Tower’s dividend payout ratio (DPR) is currently 115.67%.

Analysts Set New Price Targets

AMT has been the subject of several research reports. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $195.00 to $205.00 in a research report on Friday, June 26th. Truist Financial lifted their price target on shares of American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Citizens Jmp reiterated a “market outperform” rating and issued a $260.00 price target on shares of American Tower in a report on Wednesday, April 29th. Weiss Ratings cut American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. Finally, Scotiabank raised their price objective on American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.95.

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.