Police & Firemen s Retirement System of New Jersey Purchases 3,034 Shares of American Tower Corporation $AMT

Police & Firemen s Retirement System of New Jersey grew its position in American Tower Corporation (NYSE:AMT) by 4.5% during the second quarter, Holdings Channel reports. The institutional investor owned 71,075 shares of the real estate investment trust’s stock after acquiring an additional 3,034 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in American Tower were worth $15,709,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in American Tower by 0.7% in the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock valued at $13,667,344,000 after acquiring an additional 434,118 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after purchasing an additional 2,309,627 shares in the last quarter. Deutsche Bank AG increased its position in American Tower by 4.0% during the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock valued at $1,606,621,000 after buying an additional 285,195 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in American Tower by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock valued at $1,421,965,000 after buying an additional 88,120 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in American Tower by 0.5% in the first quarter. Invesco Ltd. now owns 5,971,716 shares of the real estate investment trust’s stock worth $1,299,445,000 after acquiring an additional 30,130 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, Director Eugene F. Reilly purchased 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the transaction, the director directly owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMT has been the subject of a number of recent analyst reports. Citigroup reiterated a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. UBS Group reissued a “buy” rating and issued a $260.00 price target on shares of American Tower in a report on Wednesday, October 29th. Argus set a $210.00 price objective on shares of American Tower in a research report on Thursday, October 30th. Wells Fargo & Company cut their price target on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Finally, BMO Capital Markets dropped their price objective on American Tower from $220.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $231.11.

American Tower Price Performance

Shares of American Tower stock opened at $183.34 on Thursday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. The business has a 50 day simple moving average of $188.94 and a two-hundred day simple moving average of $205.91. The stock has a market capitalization of $85.83 billion, a P/E ratio of 29.29, a PEG ratio of 1.08 and a beta of 0.85. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the company earned $2.52 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were issued a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. American Tower’s dividend payout ratio is presently 108.63%.

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.