Ontario Teachers Pension Plan Board Invests $291.87 Million in American Tower Corporation $AMT

Ontario Teachers Pension Plan Board bought a new stake in American Tower Corporation (NYSE:AMT) in the second quarter, Holdings Channel.com reports. The firm bought 1,784,357 shares of the real estate investment trust’s stock, valued at approximately $291,867,000. American Tower makes up about 1.9% of Ontario Teachers Pension Plan Board’s holdings, making the stock its 6th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raleigh Capital Management Inc. boosted its stake in American Tower by 489.1% during the first quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock worth $2,365,000 after buying an additional 11,377 shares during the last quarter. Canal Capital Management LLC increased its stake in shares of American Tower by 81.9% in the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after acquiring an additional 15,520 shares during the last quarter. Bernzott Capital Advisors increased its stake in shares of American Tower by 29.3% in the 1st quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock worth $7,276,000 after acquiring an additional 9,556 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of American Tower by 4.7% during the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after acquiring an additional 220,447 shares during the period. Finally, Palouse Capital Management Inc. purchased a new position in shares of American Tower during the 1st quarter worth $2,396,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of AMT opened at $172.45 on Wednesday. The firm has a 50-day simple moving average of $172.11 and a two-hundred day simple moving average of $177.84. The stock has a market cap of $80.35 billion, a PE ratio of 23.72, a P/E/G ratio of 2.79 and a beta of 0.90. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $214.79. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $1.57 by $1.14. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, analysts forecast that American Tower Corporation will post 10.78 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were given a $1.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. American Tower’s payout ratio is presently 98.49%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AMT shares. TD Cowen upped their price objective on shares of American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. BMO Capital Markets lifted their target price on shares of American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 target price on shares of American Tower in a report on Tuesday, July 28th. JPMorgan Chase & Co. dropped their price target on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $214.00 price target on shares of American Tower in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.14.

Insiders Place Their Bets

In other news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the sale, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the transaction, the executive vice president directly owned 27,711 shares in the company, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,791 shares of company stock worth $1,204,091 over the last 90 days. 0.08% of the stock is owned by insiders.

American Tower 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.