American Tower Co. (NYSE:AMT) is Maryland State Retirement & Pension System’s 5th Largest Position

Maryland State Retirement & Pension System boosted its stake in shares of American Tower Co. (NYSE:AMT) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 428,245 shares of the real estate investment trust’s stock after purchasing an additional 5,782 shares during the quarter. American Tower makes up 1.9% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 5th biggest holding. Maryland State Retirement & Pension System owned approximately 0.09% of American Tower worth $92,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in AMT. Alera Investment Advisors LLC lifted its stake in American Tower by 1.3% in the fourth quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after acquiring an additional 51 shares during the last quarter. First Business Financial Services Inc. grew its stake in shares of American Tower by 1.3% during the third quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock worth $705,000 after purchasing an additional 55 shares in the last quarter. Northcape Wealth Management LLC increased its holdings in American Tower by 0.5% in the third quarter. Northcape Wealth Management LLC now owns 10,521 shares of the real estate investment trust’s stock valued at $1,730,000 after buying an additional 56 shares during the last quarter. Augustine Asset Management Inc. raised its stake in American Tower by 0.8% in the fourth quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock valued at $1,531,000 after buying an additional 56 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its stake in American Tower by 13.9% during the fourth quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

American Tower stock traded up $1.98 during trading hours on Tuesday, reaching $180.67. 1,613,298 shares of the stock were exchanged, compared to its average volume of 2,456,921. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The firm’s 50 day moving average is $188.97 and its 200 day moving average is $194.94. The stock has a market cap of $84.26 billion, a P/E ratio of 40.43, a P/E/G ratio of 1.43 and a beta of 0.71. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter last year, the firm earned $2.54 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts predict that American Tower Co. will post 9.96 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is 146.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AMT shares. BMO Capital Markets dropped their target price on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Barclays lifted their target price on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Morgan Stanley upped their target price on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Mizuho assumed coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. Finally, StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $221.91.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

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.