Louisiana State Employees Retirement System Invests $4.12 Million in American Tower Corporation $AMT

Louisiana State Employees Retirement System acquired a new position in American Tower Corporation (NYSE:AMT) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 23,900 shares of the real estate investment trust’s stock, valued at approximately $4,125,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Richards Merrill & Peterson Inc. purchased a new position in American Tower in the 4th quarter worth approximately $25,000. Oakworth Capital Inc. increased 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 worth $25,000 after buying an additional 68 shares during the last quarter. Swiss RE Ltd. purchased a new stake in shares of American Tower during the 4th quarter valued at $25,000. Holos Integrated Wealth LLC bought a new stake in shares of American Tower during the 4th quarter worth $27,000. Finally, Triumph Capital Management bought a new stake in shares of American Tower during the 3rd quarter worth $29,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at approximately $5,332,446.96. The trade was a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

American Tower Price Performance

AMT stock opened at $175.41 on Friday. The stock has a market capitalization of $81.72 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 0.70 and a beta of 0.90. The firm’s 50-day moving average price is $181.20 and its two-hundred day moving average price is $179.83. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the firm earned $2.75 earnings per share. American Tower’s quarterly revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities analysts predict that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio (DPR) is currently 115.67%.

Analysts Set New Price Targets

Several brokerages have issued reports on AMT. Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $189.00 to $205.00 in a research note on Wednesday, April 15th. Barclays reduced their price objective on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. JPMorgan Chase & Co. dropped their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Sanford C. Bernstein raised American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price for the company in a research note on Tuesday, May 19th. Finally, Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $195.00 to $205.00 in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $216.95.

American Tower Company Profile

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.