Public Employees Retirement System of Ohio Invests $28.41 Million in American Tower Corporation $AMT

Public Employees Retirement System of Ohio bought a new stake in shares of American Tower Corporation (NYSE:AMT) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 173,691 shares of the real estate investment trust’s stock, valued at approximately $28,411,000.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after acquiring an additional 2,104 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after acquiring an additional 368 shares in the last quarter. United Bank grew its holdings in shares of American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 733 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in American Tower by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after acquiring an additional 4,778 shares during the last quarter. Finally, Ieq Capital LLC increased its stake in shares of American Tower by 52.2% in the 2nd quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after buying an additional 11,751 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of several analyst reports. The Goldman Sachs Group set a $210.00 price objective on shares of American Tower in a report on Tuesday, July 28th. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Sanford C. Bernstein reissued an “outperform” rating and issued a $214.00 price target on shares of American Tower in a research note on Wednesday, July 29th. BMO Capital Markets upped their price objective on American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Finally, Scotiabank reissued an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $215.29.

Insider Activity

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the sale, the chief financial officer owned 21,428 shares of the company’s stock, valued at $3,833,254.92. This trade represents a 18.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,791 shares of company stock valued at $1,204,091 in the last quarter. Company insiders own 0.08% of the company’s stock.

American Tower Stock Performance

AMT opened at $176.25 on Friday. The business’s 50-day simple moving average is $170.87 and its 200 day simple moving average is $177.87. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $205.21. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market capitalization of $82.13 billion, a PE ratio of 24.24, a PEG ratio of 2.76 and a beta of 0.90.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the firm earned $2.60 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts expect that American Tower Corporation will post 10.8 earnings per share for the current fiscal year.

American Tower 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.