FUKOKU MUTUAL LIFE INSURANCE Co Raises Stock Holdings in American Tower Co. (NYSE:AMT)

FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of American Tower Co. (NYSE:AMT) by 11.9% during the 4th quarter, Holdings Channel reports. The fund owned 2,550 shares of the real estate investment trust’s stock after purchasing an additional 271 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in American Tower were worth $468,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AMT. Fortitude Family Office LLC raised its holdings in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares during the period. Hara Capital LLC purchased a new stake in American Tower during the 3rd quarter valued at $31,000. Roxbury Financial LLC purchased a new stake in American Tower during the 4th quarter valued at $32,000. Legacy Investment Solutions LLC purchased a new stake in American Tower during the 3rd quarter valued at $34,000. Finally, Activest Wealth Management raised its holdings in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 125 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AMT shares. Wells Fargo & Company decreased their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Morgan Stanley reduced their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday. Mizuho reduced their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value 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 $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% of the company’s stock.

American Tower Trading Down 1.5 %

Shares of NYSE:AMT opened at $200.75 on Thursday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a market capitalization of $93.81 billion, a PE ratio of 84.70, a PEG ratio of 1.29 and a beta of 0.84. The business has a 50 day moving average of $186.16 and a two-hundred day moving average of $206.96. 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) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 earnings per share. As a group, analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.