Oregon Public Employees Retirement Fund Increases Stock Position in American Tower Corporation $AMT

Oregon Public Employees Retirement Fund raised its holdings in American Tower Corporation (NYSE:AMT) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,391 shares of the real estate investment trust’s stock after purchasing an additional 200 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in American Tower were worth $8,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Focus Financial Network Inc. lifted its position in shares of American Tower by 9.1% during the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock valued at $451,000 after acquiring an additional 170 shares during the period. Resolution Capital Ltd acquired a new stake in shares of American Tower during the 1st quarter valued at approximately $72,706,000. Golden State Wealth Management LLC lifted its position in shares of American Tower by 23.0% during the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 69 shares during the period. Shum Financial Group Inc. lifted its position in shares of American Tower by 3.5% during the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust’s stock valued at $913,000 after acquiring an additional 141 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of American Tower by 126.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock valued at $21,215,000 after acquiring an additional 54,360 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMT. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Barclays lifted their price objective on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. BMO Capital Markets restated an “outperform” rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $242.07.

American Tower Trading Up 0.7%

Shares of AMT opened at $186.60 on Monday. The stock has a fifty day moving average of $198.75 and a two-hundred day moving average of $210.80. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $87.38 billion, a PE ratio of 67.85, a price-to-earnings-growth ratio of 1.13 and a beta of 0.86. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion during 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.6%. American Tower’s payout ratio is 247.27%.

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.