Maryland State Retirement & Pension System Has $98.27 Million Stock Position in American Tower Corporation $AMT

Maryland State Retirement & Pension System boosted its position in American Tower Corporation (NYSE:AMT) by 6.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 444,614 shares of the real estate investment trust’s stock after purchasing an additional 26,490 shares during the period. American Tower comprises 2.2% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 6th biggest position. Maryland State Retirement & Pension System’s holdings in American Tower were worth $98,269,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. North Capital Inc. bought a new position in American Tower during the first quarter valued at about $25,000. Hopwood Financial Services Inc. grew its position in American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in American Tower during the first quarter valued at about $31,000. City Holding Co. bought a new position in American Tower during the first quarter valued at about $39,000. Finally, Saudi Central Bank bought a new position in American Tower during the first quarter valued at about $40,000. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 0.8%

Shares of American Tower stock opened at $185.46 on Thursday. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The company has a market cap of $86.84 billion, a price-to-earnings ratio of 67.44, a PEG ratio of 1.15 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. The company’s 50-day moving average price is $199.72 and its 200-day moving average price is $211.16.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the firm posted $2.79 earnings per share. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio is 247.27%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the company a “strong-buy” rating in a research report on Wednesday, July 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Barclays upped their price objective on shares of American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Finally, HSBC downgraded shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective on the stock. in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $242.07.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

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.