Get trade alerts

California State Teachers Retirement System 13F: Cuts AMT Stake by $2.7M

CalSTRS reduced its holding in American Tower Corporation by 16,680 shares in its latest filing.

By · Published · Updated

Reviewed by automated data checks against the source filing. How we make and check alerts

California State Teachers Retirement System sold 16,680 shares from its stake in American Tower Corporation ($AMT), a 2.39% decrease, according to a 13F filing with the SEC dated May 18, 2026. It reported 682,040 shares worth $112.39 million at the end of the quarter.

Since the filing, $AMT is up 4.3% after 1 week, up 3.1% after 1 month and up 6.6% to date (from the $173.73 close on May 18, 2026).

Find the original: California State Teachers Retirement System 13F filings on SEC EDGAR

AMT American Tower Corporation
$185.27 +9.24% year to date
Daily close · Oct 16, 2026

Key Points

  • California State Teachers Retirement System trimmed its stake in American Tower (NYSE: AMT) by 16,680 shares, bringing its total to 682,040 shares valued at about $112.4 million.
  • The stock recently traded at $164.78, down from a previous close of $173.98, reflecting a significant decrease as it moves away from a 52-week high of $197.41.
  • Other major investors like BlackRock and Vanguard also hold significant shares in American Tower, with BlackRock owning about 45.8 million shares valued at $8.5 billion.

Get $AMT trade alerts by text

We text you when insiders, Congress or big funds trade $AMT. Free.

Not investment advice. EarningsIQ is not a registered investment adviser, and this automated American Tower Corporation alert may contain errors. Disclosures

California State Teachers Retirement System (CalSTRS) trimmed its stake in American Tower Corporation (NYSE: AMT) by 16,680 shares, now holding 682,040 shares valued at approximately $112.4 million. This reduction represents a 2.4% decrease in their position as of May 18, 2026, according to their latest 13F filing with the SEC.

CalSTRS decided to reduce its investment in American Tower, a leading real estate investment trust that specializes in communications infrastructure. The fund's cost basis for the shares was around $159.64.

Other Institutional Activity in American Tower

Several other institutional investors have also made adjustments to their holdings in American Tower. BlackRock Inc. grew its holdings by 840,675 shares, ending with 45,796,561 shares worth about $8.5 billion. Vanguard Capital Management LLC added 75,905 shares, bringing its total to 30,437,771 shares valued at approximately $5.6 billion. Vanguard Portfolio Management LLC also increased its stake by 256,635 shares, totaling 27,851,812 shares worth about $5.2 billion. State Street Corporation's position grew by 632,300 shares, resulting in 22,066,202 shares valued at around $4.1 billion. Meanwhile, Geode Capital Management, LLC reduced its holdings by 94,749 shares, ending with 13,838,970 shares worth about $2.6 billion.

American Tower Corporation Stock Down 9.1%

The shares of American Tower traded at about $164.78 on the day of publication, which is significantly lower than its recent high of $197.41. The stock has been struggling, currently sitting below its 50-day moving average of $172.94. This decline may have influenced CalSTRS's decision to reduce its stake.

Recent Earnings

American Tower reported revenue of approximately $10.94 billion for the last year, with a revenue growth of 4.7%. The company achieved an EPS of $7.27 and a net margin of 31.08%. The next earnings report is scheduled for October 27, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

C+ 63/100

Reported Apr 28, 2026

  1. Forward outlook

    3 target raises vs 2 cuts.

  2. EPS & revenue

    EPS beat estimates by 13.6%. Revenue beat estimates by 2.0%.

  3. Profit surprise

    EBITDA met by 2 percent. Operating income beat by 7 percent.

  4. Pre-earnings setup

    Expectations were about average.

  5. Analyst signal

    1 upgrade, 3 target raises, 2 target cuts.

  6. Earnings quality

    Gross margin down 1.3 points. Operating margin down 6.5 points. Positive free cash flow.

Earnings Call Summary

American Tower had a strong first quarter with reported revenue of $2.74 billion, beating consensus by about $53 million, and earnings per share of $2.84 versus consensus of $2.50. Organic growth excluding DISH churn was 4 percent in towers and 17 percent in the CoreSite data center business, driven by growing mobile data demand, AI workload expansion and a major inflection in interconnection activity. Management emphasized that structural tailwinds including 5G densification, eventual 6G deployment, and AI-driven infrastructure needs position the company well for mid to upper single-digit annual growth going forward.

Guidance Management raised full year property revenue guidance by about $145 million to approximately $10.9 billion, driven by foreign exchange tailwinds and accelerated straight-line revenue. They expect organic tenant billings growth around 4 percent when excluding one-time DISH churn, plus data center growth of about 13 percent. They reaffirmed attributable AFFO per share growth expectations in the mid to upper single-digit range over the long term.

Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.

Dividend

American Tower pays an annual dividend of $6.98, which corresponds to a yield of 4.01%. The dividend payout ratio stands at 96.01%, indicating a high percentage of earnings distributed to shareholders.

Insider Buying and Selling at American Tower Corporation

Recent insider transactions show that Director Kalathur Rajesh purchased 2,829 shares at an average price of $177.00 on August 21, 2026, totaling around $500,733. Additionally, Officer Meyer Robert Joseph Jr sold 5,000 shares at an average price of $178.89 on July 29, 2026, valued at approximately $894,450. General Counsel Ruth T. Dowling also sold shares on July 29, 2026, and April 29, 2026, for a total of 2,763 shares, valued at $482,733 collectively.

Analysts Set New Price Targets

Analysts have taken note of American Tower's performance and have set new price targets. On September 30, 2026, Barclays maintained its Overweight rating with a price target of $199.00, up from a previous target of $198.00. Earlier, on August 20, 2026, Barclays upgraded its rating to Overweight with a target of $198.00, compared to $195.00 before. Truist Securities reiterated a Buy rating with a target of $207.00 on August 12, 2026. The consensus among analysts suggests a Buy rating with a mean price target of approximately $215.70 based on 23 opinions.

About American Tower

American Tower Corporation, based in Boston, MA, is one of the largest global real estate investment trusts (REITs) focusing on communications infrastructure. The company owns, operates, and develops multitenant communications sites, with over 148,000 communications towers in its portfolio, making it a crucial player in the telecommunications sector.

Bottom Line

Investors should keep an eye on American Tower's upcoming earnings report on October 27, 2026, for further insights into the company's performance. This 13F filing reflects holdings as of the reporting period and may not represent CalSTRS's current position.

Related Filing Alerts

Source: California State Teachers Retirement System's 13F filing on $AMT (May 18, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: California State Teachers Retirement System 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts

Get $AMT trade alerts by text