Strs Ohio Reduces Holdings in American Tower Corporation $AMT

Strs Ohio lowered its position in shares of American Tower Corporation (NYSE:AMT) by 2.5% during the third quarter, Holdings Channel reports. The firm owned 154,267 shares of the real estate investment trust’s stock after selling 3,881 shares during the quarter. Strs Ohio’s holdings in American Tower were worth $29,669,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Eastern Bank raised its stake in shares of American Tower by 69.6% during the 3rd quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock worth $26,750,000 after buying an additional 57,078 shares during the last quarter. Stack Financial Management Inc purchased a new position in American Tower during the 2nd quarter valued at about $13,020,000. Los Angeles Capital Management LLC raised its position in American Tower by 52.5% during the second quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock worth $71,094,000 after acquiring an additional 110,671 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of American Tower by 47.3% in the second quarter. First Trust Advisors LP now owns 109,124 shares of the real estate investment trust’s stock valued at $24,119,000 after purchasing an additional 35,037 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in shares of American Tower by 1.0% in the second quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock valued at $334,430,000 after purchasing an additional 15,920 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Trading Up 1.0%

Shares of American Tower stock opened at $178.68 on Friday. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33. The business’s fifty day moving average is $177.51 and its two-hundred day moving average is $191.96. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a market cap of $83.65 billion, a PE ratio of 28.54, a P/E/G ratio of 0.73 and a beta of 0.92.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the prior year, the firm posted $2.52 earnings per share. The business’s quarterly 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. Analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business 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 dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio is presently 108.63%.

Analyst Ratings Changes

Several research analysts recently issued reports on AMT shares. Citigroup restated a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Jefferies Financial Group cut their price target on American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Argus set a $210.00 price objective on American Tower in a research report on Thursday, October 30th. The Goldman Sachs Group decreased their price objective on American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Finally, HSBC cut their target price on shares of American Tower from $235.00 to $205.00 in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.89.

Insider Activity at American Tower

In related news, Director Eugene F. Reilly bought 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average cost of $178.99 per share, with a total value of $994,110.46. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following 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 position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is currently owned by company insiders.

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.