State Board of Administration of Florida Retirement System Buys 10,043 Shares of American Tower Corporation $AMT

State Board of Administration of Florida Retirement System raised its stake in shares of American Tower Corporation (NYSE:AMT) by 2.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 457,213 shares of the real estate investment trust’s stock after purchasing an additional 10,043 shares during the period. State Board of Administration of Florida Retirement System owned 0.10% of American Tower worth $101,053,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AMT. Nuveen LLC bought a new position in American Tower in the 1st quarter worth $991,525,000. JPMorgan Chase & Co. lifted its position in shares of American Tower by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after acquiring an additional 2,474,328 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of American Tower by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after acquiring an additional 2,309,627 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of American Tower during the first quarter worth about $162,127,000. Finally, Amundi grew its position in shares of American Tower by 35.5% during the first quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock worth $645,694,000 after purchasing an additional 743,617 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the acquisition, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Citigroup reissued a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. HSBC lowered their target price on shares of American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Jefferies Financial Group cut their target price on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Morgan Stanley reduced their price target on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of American Tower in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $228.44.

American Tower Trading Up 0.9%

Shares of AMT opened at $181.39 on Friday. The stock has a market capitalization of $84.92 billion, a PE ratio of 28.98, a P/E/G ratio of 1.08 and a beta of 0.85. The company’s fifty day moving average is $185.82 and its 200 day moving average is $202.93. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. 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 released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating the consensus estimate of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the business earned $2.52 earnings per share. American Tower’s quarterly revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side 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 was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. American Tower’s payout ratio is 108.63%.

American Tower 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.