American Tower Corporation $AMT Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in American Tower Corporation (NYSE:AMT) by 22.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 938,126 shares of the real estate investment trust’s stock after selling 268,264 shares during the quarter. California Public Employees Retirement System’s holdings in American Tower were worth $161,902,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AMT. J. Stern & Co. LLP increased its position in American Tower by 28,121.1% during the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after purchasing an additional 37,553,436 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in American Tower by 20,721.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $1,705,254,000 after purchasing an additional 9,666,025 shares in the last quarter. Norges Bank purchased a new stake in shares of American Tower during the fourth quarter worth about $1,171,180,000. Lazard Asset Management LLC raised its position in shares of American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock valued at $858,552,000 after buying an additional 4,250,242 shares during the last quarter. Finally, Capital International Investors boosted its position in American Tower by 157.0% during the fourth quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust’s stock worth $679,696,000 after acquiring an additional 2,364,898 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Performance

NYSE:AMT opened at $170.13 on Friday. The firm’s fifty day simple moving average is $177.64 and its 200 day simple moving average is $178.70. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $234.33. The firm has a market capitalization of $79.26 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 0.71 and a beta of 0.91.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the firm earned $2.75 EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities research analysts expect that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were given a $1.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. American Tower’s dividend payout ratio is presently 115.67%.

Insider Activity

In other news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares in the company, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of a number of recent analyst reports. Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. Jefferies Financial Group raised their price target on American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. JPMorgan Chase & Co. lowered their price target on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Citizens Jmp reaffirmed a “market outperform” rating and set a $260.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price objective on the stock in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.57.

American Tower 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.