Nissay Asset Management Corp Japan ADV grew its holdings in American Tower Corp (NYSE:AMT) by 4.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 30,037 shares of the real estate investment trust’s stock after acquiring an additional 1,285 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in American Tower were worth $4,364,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of American Tower by 8.9% in the 2nd quarter. BlackRock Inc. now owns 29,362,957 shares of the real estate investment trust’s stock valued at $4,233,258,000 after acquiring an additional 2,410,425 shares during the last quarter. Edgewood Management LLC increased its holdings in shares of American Tower by 2.3% in the 2nd quarter. Edgewood Management LLC now owns 6,827,640 shares of the real estate investment trust’s stock valued at $984,341,000 after acquiring an additional 154,127 shares during the last quarter. Northern Trust Corp increased its holdings in shares of American Tower by 0.7% in the 2nd quarter. Northern Trust Corp now owns 6,545,080 shares of the real estate investment trust’s stock valued at $943,605,000 after acquiring an additional 44,364 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of American Tower by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,032,192 shares of the real estate investment trust’s stock valued at $869,663,000 after acquiring an additional 713,894 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of American Tower by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,414,223 shares of the real estate investment trust’s stock valued at $636,400,000 after purchasing an additional 312,126 shares during the period. Institutional investors and hedge funds own 93.35% of the company’s stock.
American Tower stock opened at $153.02 on Friday. American Tower Corp has a twelve month low of $130.37 and a twelve month high of $161.71. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 3.11. The company has a market cap of $70.95 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 1.67 and a beta of 0.80.
American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. American Tower had a return on equity of 18.55% and a net margin of 17.07%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm earned $1.73 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, research analysts forecast that American Tower Corp will post 7.11 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 17th. Shareholders of record on Friday, September 28th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.07%. This is a boost from American Tower’s previous quarterly dividend of $0.77. The ex-dividend date was Thursday, September 27th. American Tower’s dividend payout ratio (DPR) is presently 49.53%.
A number of analysts recently issued reports on AMT shares. Barclays upped their target price on American Tower from $156.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday. Morgan Stanley upped their target price on American Tower from $154.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, August 16th. Citigroup cut American Tower from a “buy” rating to a “neutral” rating and upped their target price for the company from $161.00 to $176.00 in a research report on Wednesday. Bank of America set a $172.00 target price on American Tower and gave the company a “buy” rating in a research report on Wednesday. Finally, Guggenheim cut American Tower from a “buy” rating to a “neutral” rating and set a $135.00 target price for the company. in a research report on Monday, July 16th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $164.33.
In other news, EVP Edmund Disanto sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $149.53, for a total value of $2,242,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven C. Marshall sold 163,166 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $156.86, for a total value of $25,594,218.76. The disclosure for this sale can be found here. Insiders have sold a total of 242,126 shares of company stock valued at $37,410,060 over the last ninety days. 0.87% of the stock is owned by insiders.
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 approximately 170,000 communications sites.
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