Ontario Teachers Pension Plan Board Invests $291.87 Million in American Tower Corporation $AMT

Ontario Teachers Pension Plan Board bought a new position in shares of American Tower Corporation (NYSE:AMT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,784,357 shares of the real estate investment trust’s stock, valued at approximately $291,867,000. American Tower comprises approximately 1.9% of Ontario Teachers Pension Plan Board’s investment portfolio, making the stock its 6th largest holding. Ontario Teachers Pension Plan Board owned approximately 0.38% of American Tower as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Richards Merrill & Peterson Inc. acquired a new stake in American Tower during the 4th quarter worth about $25,000. Oakworth Capital Inc. lifted its holdings in shares of American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 68 shares during the period. Swiss RE Ltd. acquired a new position in shares of American Tower in the 4th quarter valued at about $25,000. Allied Private Wealth LLC purchased a new stake in shares of American Tower in the second quarter worth about $29,000. Finally, Triumph Capital Management acquired a new stake in American Tower during the third quarter worth about $29,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 0.1%

Shares of NYSE:AMT opened at $172.45 on Wednesday. The business’s 50 day moving average price is $172.11 and its 200-day moving average price is $177.84. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79. The firm has a market capitalization of $80.35 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 2.79 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $1.57 by $1.14. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities research analysts forecast that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were paid a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. American Tower’s payout ratio is currently 98.49%.

Insider Activity

In related news, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the sale, the executive vice president directly owned 27,711 shares in the company, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the sale, the chief financial officer owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 6,791 shares of company stock valued at $1,204,091. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMT shares. Truist Financial reiterated a “buy” rating and set a $207.00 price target (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $214.00 price objective on shares of American Tower in a research note on Wednesday, July 29th. TD Cowen boosted their target price on shares of American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Scotiabank reissued an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. dropped their price target on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $215.14.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.