Strs Ohio Buys New Position in American Tower Corporation $AMT

Strs Ohio bought a new stake in American Tower Corporation (NYSE:AMT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 148,450 shares of the real estate investment trust’s stock, valued at approximately $32,303,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. North Capital Inc. purchased a new stake in American Tower in the 1st quarter valued at about $25,000. Hopwood Financial Services Inc. grew its holdings in American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower in the 1st quarter valued at about $31,000. Lowe Wealth Advisors LLC grew its holdings in American Tower by 218.0% in the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 109 shares during the period. Finally, City Holding Co. purchased a new stake in American Tower in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several recent analyst reports. Barclays lifted their price target on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. UBS Group lifted their price target on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Raymond James Financial set a $250.00 price target on American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $245.00 target price (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

American Tower Stock Up 1.4%

Shares of NYSE:AMT opened at $196.44 on Friday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $241.97. The stock has a market capitalization of $91.98 billion, a P/E ratio of 71.43, a PEG ratio of 1.20 and a beta of 0.86. The stock has a 50-day simple moving average of $211.36 and a 200-day simple moving average of $213.42.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.American Tower’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

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.