Strs Ohio Boosts Holdings in American Tower Corporation $AMT

Key Points

• Strs Ohio increased its stake in American Tower by 15% in the first quarter, buying 22,522 additional shares and bringing its total holding to 172,521 shares worth about $29.8 million.
• American Tower reported strong first-quarter earnings, posting $2.84 per share versus the $1.60 consensus estimate, while revenue rose 6.8% year over year to $2.74 billion.
• The company announced a quarterly dividend of $1.79 per share, or $7.16 annualized, implying a 4.3% yield; however, the payout ratio is elevated at 115.67%.

Strs Ohio boosted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 15.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 172,521 shares of the real estate investment trust's stock after purchasing an additional 22,522 shares during the quarter. Strs Ohio's holdings in American Tower were worth $29,774,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Riverwater Partners LLC grew its stake in American Tower by 3.8% during the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust's stock valued at $270,000 after acquiring an additional 56 shares in the last quarter. Triumph Capital Management lifted its stake in American Tower by 37.3% in the 4th quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 56 shares in the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of American Tower by 3.5% during the 4th quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust's stock valued at $293,000 after purchasing an additional 57 shares during the last quarter. Twin City Private Wealth LLC boosted its holdings in shares of American Tower by 0.7% during the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust's stock valued at $1,382,000 after purchasing an additional 58 shares during the last quarter. Finally, Asset Advisory Group Inc. grew its position in shares of American Tower by 3.0% during the first quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust's stock valued at $358,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Price Performance

NYSE:AMT opened at $165.84 on Friday. The firm has a market capitalization of $77.27 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 0.69 and a beta of 0.91. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50 day simple moving average of $179.93 and a 200-day simple moving average of $179.30. American Tower Corporation has a 1 year low of $162.27 and a 1 year high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the company posted $2.75 EPS. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities analysts forecast that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.3%. American Tower's dividend payout ratio is currently 115.67%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AMT shares. Barclays reduced their target price on American Tower from $200.00 to $195.00 and set an "equal weight" rating on the stock in a report on Thursday, April 16th. Weiss Ratings cut American Tower from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday. Mizuho raised American Tower from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $189.00 to $205.00 in a research note on Wednesday, April 15th. The Goldman Sachs Group began coverage on American Tower in a report on Friday, June 26th. They set a "buy" rating and a $215.00 price objective on the stock. Finally, Scotiabank increased their target price on American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $216.95.

Insider Buying and Selling at American Tower

In other news, EVP Ruth T. Dowling sold 416 shares of the firm's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares in the company, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company's stock.

American Tower Company 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.

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