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

Oregon Public Employees Retirement Fund grew its stake in shares of American Tower Corporation (NYSE:AMT) by 0.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,391 shares of the real estate investment trust’s stock after buying an additional 200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in American Tower were worth $8,927,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of American Tower by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock valued at $13,667,344,000 after buying an additional 434,118 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after buying an additional 2,309,627 shares during the period. Deutsche Bank AG boosted its position in American Tower by 4.0% during the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock worth $1,606,621,000 after purchasing an additional 285,195 shares during the period. Dimensional Fund Advisors LP boosted its position in American Tower by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock worth $1,421,965,000 after purchasing an additional 88,120 shares during the period. Finally, Principal Financial Group Inc. boosted its position in American Tower by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust’s stock worth $1,335,407,000 after purchasing an additional 220,565 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMT has been the subject of a number of research reports. Barclays upped their price target on shares of 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 raised shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday. UBS Group upped their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. Finally, Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $242.07.

American Tower Stock Performance

NYSE:AMT opened at $186.60 on Monday. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50-day moving average of $198.75 and a two-hundred day moving average of $210.80. The stock has a market cap of $87.38 billion, a P/E ratio of 67.85, a PEG ratio of 1.13 and a beta of 0.86. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

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

Insider Activity

In other news, CEO Juan Font sold 720 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

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.