Teachers Retirement System of The State of Kentucky Has $22.62 Million Stake in American Tower Corporation (NYSE:AMT)

Teachers Retirement System of The State of Kentucky lifted its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 103,958 shares of the real estate investment trust's stock after purchasing an additional 1,568 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in American Tower were worth $22,622,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Partners Group Holding AG lifted its holdings in shares of American Tower by 8.3% in the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after purchasing an additional 28,988 shares in the last quarter. Aviva PLC raised its stake in shares of American Tower by 13.4% during the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock worth $71,252,000 after purchasing an additional 46,009 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of American Tower by 23.0% in 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 buying an additional 69 shares during the last quarter. Shum Financial Group Inc. increased its holdings in American Tower by 3.5% during the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after buying an additional 141 shares during the last quarter. Finally, Mariner LLC grew its position in shares of American Tower by 30.9% in the 4th quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock valued at $66,585,000 after acquiring an additional 85,693 shares during the period. Institutional investors own 92.69% of the company's stock.

American Tower Stock Up 0.7%

American Tower stock traded up $1.63 during mid-day trading on Monday, reaching $226.40. The company's stock had a trading volume of 1,458,773 shares, compared to its average volume of 2,503,151. The business's 50 day simple moving average is $216.53 and its 200 day simple moving average is $207.73. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $105.99 billion, a price-to-earnings ratio of 58.20, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The business had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. During the same period in the previous year, the business posted $2.79 EPS. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. As a group, research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.00%. American Tower's dividend payout ratio is currently 174.81%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMT. Scotiabank increased their target price on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. JMP Securities increased their price target on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 30th. Raymond James Financial lifted their target price on American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Wells Fargo & Company lifted their price target on shares of American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Finally, UBS Group increased their price target on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $240.88.

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.