Louisiana State Employees Retirement System Has $4.71 Million Stock Holdings in American Tower Corp (NYSE:AMT)

Louisiana State Employees Retirement System trimmed its holdings in American Tower Corp (NYSE:AMT) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,300 shares of the real estate investment trust’s stock after selling 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in American Tower were worth $4,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in AMT. Nuveen Asset Management LLC lifted its stake in shares of American Tower by 16,153.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,848,439 shares of the real estate investment trust’s stock valued at $786,813,000 after purchasing an additional 3,824,762 shares during the period. BlackRock Inc. raised its stake in American Tower by 4.0% during the 2nd quarter. BlackRock Inc. now owns 31,549,686 shares of the real estate investment trust’s stock worth $6,450,332,000 after buying an additional 1,213,664 shares during the period. Prudential Financial Inc. raised its stake in American Tower by 72.4% during the 2nd quarter. Prudential Financial Inc. now owns 1,445,399 shares of the real estate investment trust’s stock worth $295,512,000 after buying an additional 607,026 shares during the period. APG Asset Management N.V. raised its stake in American Tower by 24.2% during the 2nd quarter. APG Asset Management N.V. now owns 1,807,357 shares of the real estate investment trust’s stock worth $324,477,000 after buying an additional 351,686 shares during the period. Finally, California Public Employees Retirement System raised its stake in American Tower by 19.1% during the 2nd quarter. California Public Employees Retirement System now owns 2,061,930 shares of the real estate investment trust’s stock worth $421,562,000 after buying an additional 331,035 shares during the period. 92.63% of the stock is currently owned by institutional investors.

A number of research analysts recently weighed in on AMT shares. JPMorgan Chase & Co. upped their price target on American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Morgan Stanley upped their price target on American Tower from $201.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Citigroup upped their price target on American Tower from $236.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Zacks Investment Research raised American Tower from a “hold” rating to a “buy” rating and set a $237.00 price target on the stock in a research note on Tuesday, August 20th. Finally, ValuEngine downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. American Tower presently has a consensus rating of “Hold” and a consensus target price of $206.87.

Shares of AMT opened at $218.19 on Friday. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a 50 day moving average price of $224.37 and a two-hundred day moving average price of $212.11. The firm has a market capitalization of $100.06 billion, a P/E ratio of 27.31, a P/E/G ratio of 1.81 and a beta of 0.44. American Tower Corp has a 52 week low of $148.74 and a 52 week high of $242.00.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.91). The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.83 billion. American Tower had a return on equity of 24.75% and a net margin of 19.30%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.74 earnings per share. On average, equities analysts forecast that American Tower Corp will post 7.67 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Friday, September 27th were issued a dividend of $0.95 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, September 26th. American Tower’s payout ratio is currently 47.56%.

In other news, Director David E. Sharbutt sold 2,039 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $217.59, for a total value of $443,666.01. Following the completion of the transaction, the director now directly owns 3,936 shares of the company’s stock, valued at $856,434.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Pamela D. A. Reeve sold 4,167 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $240.80, for a total value of $1,003,413.60. Following the completion of the transaction, the director now directly owns 19,139 shares of the company’s stock, valued at $4,608,671.20. The disclosure for this sale can be found here. Insiders have sold a total of 200,001 shares of company stock valued at $44,133,551 over the last three months. Corporate insiders own 0.75% of the company’s stock.

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 approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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