Teacher Retirement System of Texas Has $24.46 Million Stake in American Tower Co. (NYSE:AMT)

Teacher Retirement System of Texas boosted its stake in American Tower Co. (NYSE:AMT - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,377 shares of the real estate investment trust's stock after acquiring an additional 2,494 shares during the quarter. Teacher Retirement System of Texas' holdings in American Tower were worth $24,463,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Glenview Trust co increased its stake in American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after buying an additional 54 shares during the period. Rehmann Capital Advisory Group grew its stake in American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock valued at $332,000 after purchasing an additional 58 shares in the last quarter. Precedent Wealth Partners LLC increased its holdings in American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock worth $235,000 after purchasing an additional 58 shares during the last quarter. Resonant Capital Advisors LLC raised its position in shares of American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock valued at $206,000 after purchasing an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its stake in shares of American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock worth $398,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

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American Tower Stock Performance

AMT traded up $0.41 on Wednesday, hitting $209.91. The company had a trading volume of 1,607,370 shares, compared to its average volume of 2,267,067. The stock has a market cap of $98.12 billion, a price-to-earnings ratio of 88.57, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company's fifty day moving average price is $197.32 and its 200 day moving average price is $204.91. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.29 earnings per share. Equities analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.24%. This is a boost from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower's dividend payout ratio is 141.37%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMT. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. The Goldman Sachs Group dropped their target price on American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Morgan Stanley lowered their price target on American Tower from $219.00 to $213.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Wells Fargo & Company raised shares of American Tower from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Finally, Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, American Tower has an average rating of "Buy" and a consensus target price of $229.43.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the company's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company's stock.

About American Tower

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.