Tokio Marine Asset Management Co. Ltd. Buys 1,142 Shares of American Tower Co. (NYSE:AMT)

Tokio Marine Asset Management Co. Ltd. grew its stake in shares of American Tower Co. (NYSE:AMT) by 9.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,188 shares of the real estate investment trust’s stock after acquiring an additional 1,142 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in American Tower were worth $3,067,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Orion Portfolio Solutions LLC lifted its stake in American Tower by 24.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 17,199 shares of the real estate investment trust’s stock worth $3,398,000 after purchasing an additional 3,381 shares in the last quarter. Motco raised its position in shares of American Tower by 4.7% in the first quarter. Motco now owns 1,801 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 81 shares in the last quarter. M&G Plc bought a new stake in American Tower during the first quarter valued at $164,300,000. Prevail Innovative Wealth Advisors LLC purchased a new position in American Tower during the first quarter worth about $2,146,000. Finally, Centersquare Investment Management LLC increased its stake in American Tower by 2.4% in the 1st quarter. Centersquare Investment Management LLC now owns 653,596 shares of the real estate investment trust’s stock worth $129,144,000 after acquiring an additional 15,600 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on AMT. Barclays lifted their target price on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. TD Cowen lifted their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, Scotiabank reduced their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.85.

American Tower Stock Performance

Shares of AMT opened at $194.91 on Friday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The business’s fifty day simple moving average is $224.08 and its two-hundred day simple moving average is $210.55. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market cap of $91.08 billion, a price-to-earnings ratio of 82.24, a P/E/G ratio of 1.30 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.58 earnings per share. Research analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is currently 273.42%.

American Tower 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.