Asset Management One Co. Ltd. Buys 12,847 Shares of American Tower Corporation (NYSE:AMT)

Asset Management One Co. Ltd. boosted its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 196,593 shares of the real estate investment trust's stock after buying an additional 12,847 shares during the quarter. Asset Management One Co. Ltd.'s holdings in American Tower were worth $42,779,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC lifted its holdings in American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after buying an additional 109 shares in the last quarter. Minot DeBlois Advisors LLC bought a new stake in shares of American Tower during the 4th quarter valued at $29,000. Graney & King LLC bought a new stake in shares of American Tower during the 4th quarter valued at $32,000. City Holding Co. bought a new stake in shares of American Tower during the 1st quarter valued at $39,000. Finally, Global Wealth Strategies & Associates raised its position in shares of American Tower by 193.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 182 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMT. Citigroup upped their target price on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, March 10th. BMO Capital Markets upped their target price on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Wells Fargo & Company upped their target price on shares of American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Bank of America initiated coverage on shares of American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 target price for the company. Finally, JMP Securities upped their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, American Tower currently has a consensus rating of "Buy" and a consensus price target of $240.25.

American Tower Stock Down 1.2%

AMT stock traded down $2.58 during trading hours on Thursday, reaching $217.64. 2,040,063 shares of the stock were exchanged, compared to its average volume of 2,494,089. The firm's 50-day moving average is $215.90 and its 200-day moving average is $203.66. The company has a market cap of $101.89 billion, a price-to-earnings ratio of 55.95, a PEG ratio of 1.66 and a beta of 0.81. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last released 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 firm had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The company's revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 EPS. On average, equities research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, June 13th. American Tower's payout ratio is 174.81%.

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.