Teacher Retirement System of Texas Reduces Stock Position in American Tower Corporation $AMT

Teacher Retirement System of Texas cut its stake in American Tower Corporation (NYSE:AMT) by 28.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,241 shares of the real estate investment trust’s stock after selling 42,905 shares during the period. Teacher Retirement System of Texas’ holdings in American Tower were worth $23,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. North Capital Inc. acquired a new position in American Tower in the first quarter valued at approximately $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 last quarter. Rosenberg Matthew Hamilton lifted its holdings in American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 80 shares during the last quarter. Saudi Central Bank acquired a new position in American Tower in the first quarter valued at approximately $40,000. Finally, Accredited Wealth Management LLC lifted its holdings in American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 135 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMT. Raymond James Financial set a $250.00 price objective on American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Barclays upped their price objective on American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Morgan Stanley decreased their price objective on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. Finally, BMO Capital Markets decreased their price target on American Tower from $245.00 to $220.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $236.75.

American Tower Stock Down 1.1%

Shares of NYSE AMT opened at $189.35 on Tuesday. The stock has a market cap of $88.66 billion, a P/E ratio of 68.86, a PEG ratio of 1.16 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The business’s fifty day simple moving average is $195.03 and its 200-day simple moving average is $208.94.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion for 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%.The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period last year, the firm earned $2.79 earnings per share. As a group, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is presently 247.27%.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Company Profile

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.