American Tower Corporation $AMT Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its holdings in American Tower Corporation (NYSE:AMT) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,700 shares of the real estate investment trust’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in American Tower were worth $5,459,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AMT. Blossom Wealth Management increased its stake in shares of American Tower by 1.8% in the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 45 shares during the period. TFG Advisers LLC increased its stake in shares of American Tower by 0.3% in the second quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock worth $3,578,000 after purchasing an additional 47 shares during the period. Novem Group increased its stake in shares of American Tower by 3.8% in the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock worth $291,000 after purchasing an additional 48 shares during the period. Elmwood Wealth Management Inc. increased its stake in shares of American Tower by 2.5% in the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 50 shares during the period. Finally, 4J Wealth Management LLC grew its position in American Tower by 4.0% during the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 50 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by insiders.

American Tower Stock Down 0.8%

Shares of AMT opened at $185.46 on Thursday. The company has a market capitalization of $86.84 billion, a P/E ratio of 67.44, a PEG ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The business’s 50 day simple moving average is $199.72 and its 200-day simple moving average is $211.16.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.American Tower’s revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s payout ratio is presently 247.27%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Barclays lifted their target price on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Wall Street Zen downgraded American Tower from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Wells Fargo & Company decreased their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $242.07.

American Tower Company 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.