Mitsubishi UFJ Asset Management UK Ltd. Acquires Shares of 5,000 American Tower Corporation (NYSE:AMT)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. acquired 5,000 shares of American Tower Corporation, valuing the investment at approximately $1,088,000.
• The company reported earnings of $2.60 per share for the last quarter, exceeding the consensus estimate and showing a 9.4% decline in revenue year-over-year.
• Analyst ratings for American Tower show four hold ratings, thirteen buy ratings, and a current average price target of $243.88.

Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,000 shares of the real estate investment trust's stock, valued at approximately $1,088,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. North Capital Inc. purchased a new stake in shares of American Tower during the first quarter worth $25,000. Hopwood Financial Services Inc. lifted its position in shares of American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in shares of American Tower during the fourth quarter worth $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower during the first quarter worth $31,000. Finally, Lowe Wealth Advisors LLC lifted its position in shares of American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 109 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Juan Font sold 720 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company's stock.

Analyst Ratings Changes

AMT has been the topic of several recent research reports. Hsbc Global Res downgraded American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Wells Fargo & Company lowered their price objective on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price target on American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Bank of America started coverage on American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $243.88.

American Tower Stock Performance

Shares of AMT opened at $204.04 on Thursday. The company has a 50-day simple moving average of $217.81 and a two-hundred day simple moving average of $211.46. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The firm has a market capitalization of $95.54 billion, a PE ratio of 74.20, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the business earned $2.79 earnings per share. The business's revenue was down 9.4% on a year-over-year basis. On average, analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Company Profile

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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