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

Tokio Marine Asset Management Co. Ltd. raised its position in American Tower Co. (NYSE:AMT) by 5.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,780 shares of the real estate investment trust’s stock after buying an additional 596 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in American Tower were worth $2,327,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Atria Wealth Solutions Inc. increased its stake in American Tower by 6.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 22,374 shares of the real estate investment trust’s stock valued at $4,841,000 after buying an additional 1,335 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of American Tower by 7.2% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,452 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 97 shares in the last quarter. Bfsg LLC purchased a new stake in shares of American Tower during the 4th quarter worth $43,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of American Tower in the 4th quarter worth about $254,000. Finally, Schnieders Capital Management LLC boosted its position in shares of American Tower by 111.8% in the 4th quarter. Schnieders Capital Management LLC now owns 4,736 shares of the real estate investment trust’s stock worth $1,022,000 after buying an additional 2,500 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays upped their target price on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Mizuho initiated coverage on shares of American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 target price for the company. BMO Capital Markets dropped their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. dropped their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.36.

American Tower Stock Down 0.2 %

Shares of American Tower stock traded down $0.36 on Thursday, hitting $172.99. 858,272 shares of the company’s stock traded hands, compared to its average volume of 2,418,625. The stock has a market cap of $80.67 billion, a P/E ratio of 54.51, a PEG ratio of 1.38 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The firm’s 50-day moving average is $190.93 and its 200 day moving average is $194.05. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.34 earnings per share. Equities analysts anticipate that American Tower Co. will post 9.94 earnings per share for the current year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

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.