Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $142.53 Million Stake in American Tower Co. (NYSE:AMT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in American Tower Co. (NYSE:AMT) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 777,110 shares of the real estate investment trust’s stock after selling 3,352 shares during the quarter. American Tower makes up approximately 0.9% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings, making the stock its 18th largest holding. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in American Tower were worth $142,530,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Roxbury Financial LLC bought a new position in shares of American Tower in the fourth quarter worth about $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the third quarter valued at approximately $34,000. Activest Wealth Management raised its position in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in American Tower during the 4th quarter worth $46,000. Finally, Versant Capital Management Inc boosted its position in American Tower by 113.9% in the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 139 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMT has been the subject of a number of recent research reports. JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Citigroup upped their target price on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $210.00 to $230.00 in a research note on Monday. Mizuho dropped their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $228.79.

American Tower Price Performance

Shares of AMT stock opened at $213.83 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm has a fifty day moving average of $194.43 and a 200-day moving average of $205.60. The firm has a market capitalization of $99.95 billion, a price-to-earnings ratio of 90.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.29 earnings per share. On average, equities research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.18%. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is 141.37%.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.