State of New Jersey Common Pension Fund D Has $35.97 Million Stake in American Tower Corporation $AMT
by Jessica Moore · The Cerbat GemState of New Jersey Common Pension Fund D cut its position in American Tower Corporation (NYSE:AMT – Free Report) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 204,889 shares of the real estate investment trust’s stock after selling 5,097 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in American Tower were worth $35,972,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Oakworth Capital Inc. increased its holdings in shares of American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 68 shares during the period. Richards Merrill & Peterson Inc. bought a new stake in shares of American Tower in the fourth quarter valued at approximately $25,000. Triumph Capital Management acquired a new stake in American Tower during the third quarter worth approximately $29,000. Holos Integrated Wealth LLC acquired a new stake in American Tower during the fourth quarter worth approximately $27,000. Finally, Root Financial Partners LLC bought a new position in American Tower during the 3rd quarter worth $32,000. Institutional investors own 92.69% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on AMT. Royal Bank Of Canada decreased their price target on American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research report on Monday, January 12th. The Goldman Sachs Group dropped their target price on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Morgan Stanley cut their price target on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Weiss Ratings cut shares of American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. Finally, Sanford C. Bernstein boosted their price objective on shares of American Tower from $205.00 to $207.00 and gave the company a “market perform” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.05.
American Tower News Roundup
Here are the key news stories impacting American Tower this week:
- Positive Sentiment: Q1 results beat expectations — AFFO of $2.84 vs. consensus ~$2.50 and revenue $2.74B vs. ~$2.65B; management raised 2026 outlook on strong leasing and data‑center demand, a key driver for future cash flow. American Tower (AMT) Reports Q1 AFFO and Revenue Above Estimates
- Positive Sentiment: FFO and property revenue outperformed, prompting higher 2026 outlook midpoints — reinforces recurring income profile important for REIT valuation and dividend coverage. AMT Q1 FFO Beats Estimates on Higher Property Revenues
- Positive Sentiment: CoreSite (an AMT data‑center business) launched 100Gbps Ethernet virtual circuits — product and capacity expansion that supports cloud/AI connectivity revenue growth. CoreSite Launches 100G Ethernet Virtual Circuits
- Positive Sentiment: Several analysts remain constructive or raised targets: Citizens JMP reaffirmed market‑outperform with a $260 target; Scotiabank raised its PT to $218; Sanford Bernstein nudged its PT to $207 — these show continuing institutional demand for AMT exposure. Analyst Ratings and Targets
- Neutral Sentiment: Dividend and income positioning — AMT appears in high‑yield/dividend‑growth lists (yield ~3.9%), which supports income‑oriented investor interest but is not a catalyst for large re‑ratings. 5 Best High‑Yield Dividend Growth Stocks to Buy Right Now
- Neutral Sentiment: Full earnings call transcript and presentation provide detail on strategy and markets — useful for longer‑term investors but incremental to headline beat. Q1 Results — Earnings Call Presentation
- Negative Sentiment: Management acknowledged margin pressures and some regional growth challenges during the call — margin risk can limit near‑term EPS expansion despite revenue strength. Q1 Earnings Call Highlights: Strong Data Center Growth and …
- Negative Sentiment: Critical commentary and a downgrade-style view from some outlets argue the beat isn’t enough to re‑rate the stock, tempering momentum and contributing to short‑term selling pressure. There’s Nothing To Wake The Stock Up (Rating Downgrade)
American Tower Stock Up 1.0%
AMT stock opened at $179.92 on Thursday. The firm has a 50-day moving average price of $180.08 and a 200-day moving average price of $180.03. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27. The stock has a market capitalization of $83.86 billion, a P/E ratio of 33.07, a price-to-earnings-growth ratio of 0.74 and a beta of 0.92.
American Tower (NYSE:AMT – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $1.25. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities research analysts anticipate that American Tower Corporation will post 10.59 EPS for the current fiscal year.
American Tower Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were given a dividend of $1.79 per share. The ex-dividend date was Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a yield of 4.0%. This is an increase from American Tower’s previous quarterly dividend of $1.70. American Tower’s dividend payout ratio is presently 115.67%.
Insider Transactions at American Tower
In other American Tower news, Director Rajesh Kalathur acquired 2,671 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the acquisition, the director directly owned 4,936 shares in the company, valued at $914,640.80. This represents a 117.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the sale, the chief operating officer owned 29,592 shares in the company, valued at approximately $5,653,551.60. This represents a 58.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is owned by corporate insiders.
American Tower 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.