California State Teachers Retirement System Raises Stake in American Tower Corporation $AMT

California State Teachers Retirement System increased its holdings in shares of American Tower Corporation (NYSE:AMT) by 17,056.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 117,012,907 shares of the real estate investment trust’s stock after buying an additional 116,330,867 shares during the period. California State Teachers Retirement System owned 0.25% of American Tower worth $19,139,801,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Raleigh Capital Management Inc. boosted its stake in American Tower by 489.1% in the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock worth $2,365,000 after purchasing an additional 11,377 shares in the last quarter. Canal Capital Management LLC lifted its stake in shares of American Tower by 81.9% in the first quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after buying an additional 15,520 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of American Tower by 4.7% in the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after buying an additional 220,447 shares in the last quarter. Bernzott Capital Advisors grew its holdings in shares of American Tower by 29.3% during 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 buying an additional 9,556 shares during the last quarter. Finally, BIP Wealth LLC bought a new stake in shares of American Tower during the second quarter valued at approximately $1,004,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the sale, the chief financial officer owned 21,428 shares of the company’s stock, valued at $3,833,254.92. The trade was a 18.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rajesh Kalathur acquired 2,829 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were acquired at an average cost of $177.00 per share, with a total value of $500,733.00. Following the transaction, the director owned 7,765 shares in the company, valued at approximately $1,374,405. This trade represents a 57.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 6,791 shares of company stock valued at $1,204,091 in the last quarter. 0.08% of the stock is currently owned by insiders.

American Tower Price Performance

NYSE AMT opened at $175.83 on Tuesday. The stock has a market capitalization of $81.93 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.82 and a beta of 0.89. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $199.40. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The business’s fifty day moving average price is $171.09 and its 200-day moving average price is $177.40.

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. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the company posted $2.60 earnings per share. American Tower’s revenue was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities analysts predict that American Tower Corporation will post 10.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMT. The Goldman Sachs Group set a $210.00 price objective on shares of American Tower in a report on Tuesday, July 28th. Sanford C. Bernstein reissued an “outperform” rating and issued a $214.00 target price on shares of American Tower in a report on Wednesday, July 29th. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Truist Financial reaffirmed a “buy” rating and set a $207.00 price objective (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. Finally, Mizuho set a $208.00 price objective on American Tower in a report on Thursday, August 20th. One investment 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.