Public Employees Retirement System of Ohio Has $43.28 Million Position in American Tower Co. (NYSE:AMT)

Public Employees Retirement System of Ohio reduced its stake in shares of American Tower Co. (NYSE:AMT) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 219,018 shares of the real estate investment trust’s stock after selling 16,000 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in American Tower were worth $43,276,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Alera Investment Advisors LLC grew its position in shares of American Tower by 1.3% in the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock valued at $886,000 after purchasing an additional 51 shares during the period. Allstate Corp grew its position in shares of American Tower by 3.1% in the 4th quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock valued at $378,000 after purchasing an additional 53 shares during the period. Augustine Asset Management Inc. grew its position in shares of American Tower by 0.8% in the 4th quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock valued at $1,531,000 after purchasing an additional 56 shares during the period. McIlrath & Eck LLC grew its position in shares of American Tower by 13.9% in the 4th quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 56 shares during the period. Finally, Glassman Wealth Services grew its position in shares of American Tower by 4.7% in the 4th quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock valued at $268,000 after purchasing an additional 56 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

AMT traded up $0.32 during trading hours on Monday, reaching $214.04. The company’s stock had a trading volume of 1,001,946 shares, compared to its average volume of 2,306,781. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The company’s 50-day moving average is $197.59 and its 200-day moving average is $193.54. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $99.95 billion, a PE ratio of 48.35, a price-to-earnings-growth ratio of 1.50 and a beta of 0.81.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.54 EPS. On average, equities analysts forecast that American Tower Co. will post 10.04 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 14th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Friday, June 14th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AMT shares. Mizuho started coverage on American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target for the company. The Goldman Sachs Group began coverage on American Tower in a research report on Monday, July 1st. They set a “buy” rating and a $230.00 price target for the company. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. Morgan Stanley upped their price objective on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, Barclays dropped their price objective on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $222.92.

Insider Activity at American Tower

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other American Tower news, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the transaction, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

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.