Strs Ohio Acquires New Stake in American Tower Corporation $AMT

Strs Ohio acquired a new stake in American Tower Corporation (NYSE:AMT) during the first quarter, according to its most recent filing with the SEC. The firm acquired 148,450 shares of the real estate investment trust’s stock, valued at approximately $32,303,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. North Capital Inc. purchased a new position in American Tower in the 1st quarter valued at $25,000. Hopwood Financial Services Inc. lifted its holdings in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower in the first quarter valued at $31,000. Lowe Wealth Advisors LLC lifted its holdings in American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 109 shares during the period. Finally, City Holding Co. acquired a new stake in American Tower in the first quarter valued at $39,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Juan Font sold 720 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were 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 of the company’s stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Wells Fargo & Company reduced their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. BMO Capital Markets reissued an “outperform” rating and issued a $245.00 target price (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Finally, Barclays raised their target price on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and an average target price of $244.73.

American Tower Trading Up 1.4%

NYSE:AMT opened at $196.44 on Friday. The company has a market capitalization of $91.98 billion, a PE ratio of 71.43, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $241.97. The stock has a fifty 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 (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business’s revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal 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.