Mufg Securities Americas Inc. bought a new stake in American Tower Co. (NYSE:AMT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,899 shares of the real estate investment trust's stock, valued at approximately $1,265,000.
Other hedge funds also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV boosted its position in American Tower by 1.3% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 86,023 shares of the real estate investment trust's stock worth $15,645,000 after acquiring an additional 1,128 shares during the last quarter. Nomura Holdings Inc. boosted its holdings in shares of American Tower by 867.7% during the fourth quarter. Nomura Holdings Inc. now owns 69,645 shares of the real estate investment trust's stock worth $12,774,000 after purchasing an additional 62,448 shares during the last quarter. Nan Shan Life Insurance Co. Ltd. acquired a new stake in shares of American Tower during the fourth quarter worth $33,790,000. NorthRock Partners LLC grew its position in shares of American Tower by 96.4% in the fourth quarter. NorthRock Partners LLC now owns 5,436 shares of the real estate investment trust's stock valued at $997,000 after purchasing an additional 2,668 shares during the period. Finally, OMERS ADMINISTRATION Corp lifted its position in American Tower by 20.6% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 20,001 shares of the real estate investment trust's stock worth $3,668,000 after buying an additional 3,423 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have recently commented on AMT. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Raymond James boosted their target price on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company increased their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Morgan Stanley initiated coverage on American Tower in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $239.27.
Get Our Latest Report on AMT
American Tower Price Performance
Shares of AMT stock opened at $204.68 on Thursday. The firm has a fifty day simple moving average of $214.91 and a 200-day simple moving average of $201.70. The company has a market capitalization of $95.82 billion, a PE ratio of 86.36, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. American Tower Co. has a twelve month low of $172.51 and a twelve month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.
American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.79 earnings per share. Equities research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.
American Tower Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, April 11th were paid a dividend of $1.70 per share. This is a boost from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Friday, April 11th. American Tower's dividend payout ratio is 174.81%.
American Tower Company Profile
(
Free Report)
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.
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