New York State Teachers Retirement System Decreases Stock Holdings in American Tower Corporation $AMT

New York State Teachers Retirement System decreased its stake in shares of American Tower Corporation (NYSE:AMT) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 374,107 shares of the real estate investment trust’s stock after selling 2,999 shares during the period. New York State Teachers Retirement System owned about 0.08% of American Tower worth $71,948,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of American Tower during the 2nd quarter valued at $31,000. Abound Wealth Management grew its stake in shares of American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 81 shares during the period. VSM Wealth Advisory LLC increased its position in shares of American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 90 shares during the last quarter. Rosenberg Matthew Hamilton lifted its stake in shares of American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares during the period. Finally, Salomon & Ludwin LLC grew its position in American Tower by 147.9% during the third quarter. Salomon & Ludwin LLC now owns 181 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 108 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 1.0%

Shares of AMT opened at $168.56 on Friday. The firm has a market cap of $78.91 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 0.64 and a beta of 0.92. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33. The company has a 50 day simple moving average of $177.95 and a two-hundred day simple moving average of $194.73.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping the consensus estimate of $2.64 by $0.14. The firm had revenue of $2.72 billion for 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%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, December 29th. American Tower’s payout ratio is currently 108.63%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMT shares. TD Cowen dropped their price target on shares of American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Morgan Stanley cut their price target on American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, December 4th. Jefferies Financial Group decreased their price objective on American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $220.00 price objective on shares of American Tower in a research note on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.22.

Insider Buying and Selling

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the transaction, the insider owned 211,379 shares in the company, valued at $14,743,685.25. This trade represents a 91.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Eugene F. Reilly acquired 5,554 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the acquisition, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.17% of the stock is currently owned by corporate insiders.

About American Tower

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.