Retirement Systems of Alabama Decreases Stock Holdings in American Tower Corporation $AMT

Retirement Systems of Alabama lowered its stake in shares of American Tower Corporation (NYSE:AMT) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 366,913 shares of the real estate investment trust’s stock after selling 2,417 shares during the period. Retirement Systems of Alabama’s holdings in American Tower were worth $81,095,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. North Capital Inc. purchased a new position in shares of American Tower during the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. increased its position in American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in shares of American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. Saudi Central Bank acquired a new stake in shares of American Tower in the first quarter worth $40,000. Finally, Accredited Wealth Management LLC increased its position in shares of American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Barclays raised their price target on shares of American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Morgan Stanley decreased their target price on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Finally, HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price of $234.31.

American Tower Stock Performance

Shares of AMT opened at $179.13 on Thursday. The company’s fifty day moving average is $193.96 and its 200-day moving average is $208.52. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. The firm has a market cap of $83.88 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 1.11 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.14. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. American Tower’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

American Tower Company 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.