American Tower Co. (NYSE:AMT) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its stake in American Tower Co. (NYSE:AMT) by 0.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 141,684 shares of the real estate investment trust’s stock after purchasing an additional 356 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in American Tower were worth $25,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its stake in American Tower by 49.3% during the 3rd quarter. Larson Financial Group LLC now owns 227 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 75 shares during the period. Quantbot Technologies LP acquired a new position in shares of American Tower during the third quarter worth approximately $1,843,000. CreativeOne Wealth LLC grew its holdings in American Tower by 33.1% in the 3rd quarter. CreativeOne Wealth LLC now owns 2,547 shares of the real estate investment trust’s stock worth $592,000 after buying an additional 633 shares in the last quarter. Icon Wealth Advisors LLC increased its position in American Tower by 11.7% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,165 shares of the real estate investment trust’s stock valued at $736,000 after acquiring an additional 332 shares during the period. Finally, Captrust Financial Advisors raised its stake in American Tower by 0.3% during the 3rd quarter. Captrust Financial Advisors now owns 71,248 shares of the real estate investment trust’s stock valued at $16,569,000 after acquiring an additional 192 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research analyst reports. Scotiabank lowered their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley lowered their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Citigroup upped their price target on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. BMO Capital Markets raised their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Finally, JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price for the company. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, American Tower has a consensus rating of “Buy” and a consensus target price of $229.43.

American Tower Stock Up 0.7 %

Shares of American Tower stock opened at $215.52 on Friday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm has a market capitalization of $100.74 billion, a PE ratio of 90.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock’s fifty day moving average is $198.89 and its 200-day moving average is $204.58.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the company earned $2.29 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a $1.70 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.16%. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

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.