Public Employees Retirement System of Ohio Purchases New Holdings in American Tower Corporation $AMT

Public Employees Retirement System of Ohio acquired a new position in shares of American Tower Corporation (NYSE:AMT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 173,691 shares of the real estate investment trust’s stock, valued at approximately $28,411,000.

Other hedge funds have also recently bought and sold shares of the company. Raleigh Capital Management Inc. lifted its stake in shares of 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 valued at $2,365,000 after buying an additional 11,377 shares during the period. Canal Capital Management LLC lifted 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 valued at $5,949,000 after purchasing an additional 15,520 shares in the last quarter. Legal & General Group Plc lifted its position in American Tower by 4.7% during the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock valued at $855,675,000 after buying an additional 220,447 shares in the last quarter. Bernzott Capital Advisors raised its position in American Tower by 29.3% in the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock valued at $7,276,000 after purchasing an additional 9,556 shares during the period. Finally, BIP Wealth LLC purchased a new position in American Tower in the 2nd quarter valued at about $1,004,000. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

American Tower Stock Up 1.2%

Shares of American Tower stock opened at $176.25 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. The company has a market cap of $82.13 billion, a P/E ratio of 24.24, a P/E/G ratio of 2.76 and a beta of 0.90. The stock has a 50-day moving average price of $170.87 and a 200 day moving average price of $177.87. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $205.21.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm posted $2.60 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, analysts expect that American Tower Corporation will post 10.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AMT has been the subject of several recent analyst reports. Scotiabank reissued an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Jefferies Financial Group cut their price objective on shares of American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. BMO Capital Markets raised their price objective on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Finally, Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.29.

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.