Police & Firemen s Retirement System of New Jersey Increases Stock Position in American Tower Corporation $AMT

Police & Firemen s Retirement System of New Jersey boosted its stake in shares of American Tower Corporation (NYSE:AMT) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,075 shares of the real estate investment trust’s stock after purchasing an additional 3,034 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in American Tower were worth $15,709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. boosted its position in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in American Tower in the second quarter worth about $31,000. Rosenberg Matthew Hamilton grew its stake in shares of American Tower by 86.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 80 shares during the period. Saudi Central Bank purchased a new position in American Tower during the first quarter valued at approximately $40,000. Finally, Accredited Wealth Management LLC boosted its position in shares of American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 135 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Down 0.8%

Shares of AMT opened at $183.34 on Thursday. The firm has a market capitalization of $85.83 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 1.08 and a beta of 0.85. The company has a 50-day moving average of $188.94 and a 200 day moving average of $205.91. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.American Tower’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. American Tower’s dividend payout ratio (DPR) is 108.63%.

Analysts Set New Price Targets

AMT has been the subject of a number of analyst reports. Morgan Stanley cut their price target on American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Wells Fargo & Company decreased their price target on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. UBS Group reaffirmed a “buy” rating and issued a $260.00 price objective on shares of American Tower in a research note on Wednesday, October 29th. Barclays upped their price target on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.11.

Insider Buying and Selling at American Tower

In other American Tower news, Director Eugene F. Reilly acquired 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

About American Tower

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.