Nomura Asset Management Co. Ltd. lifted its position in shares of American Tower Corp (NYSE:AMT) by 1.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 62,029 shares of the real estate investment trust’s stock after purchasing an additional 1,129 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in American Tower were worth $8,942,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kaizen Advisory LLC lifted its stake in American Tower by 140.6% in the 2nd quarter. Kaizen Advisory LLC now owns 1,008 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 589 shares in the last quarter. RMR Advisors LLC purchased a new stake in American Tower in the 2nd quarter worth $173,000. Signaturefd LLC purchased a new stake in American Tower in the 1st quarter worth $182,000. Centaurus Financial Inc. purchased a new stake in American Tower in the 1st quarter worth $197,000. Finally, Fulton Bank N.A. purchased a new stake in American Tower in the 2nd quarter worth $203,000. Institutional investors own 92.16% of the company’s stock.
Several analysts have commented on the stock. Oppenheimer boosted their price target on shares of American Tower from $167.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 1st. Guggenheim reiterated a “hold” rating and issued a $160.00 price target on shares of American Tower in a research note on Tuesday, August 7th. Morgan Stanley decreased their price target on shares of American Tower from $157.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, May 31st. Wells Fargo & Co boosted their target price on shares of American Tower from $150.00 to $158.00 and gave the stock an “outperform” rating in a report on Tuesday, July 3rd. Finally, Cowen restated a “buy” rating and issued a $161.00 target price on shares of American Tower in a report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the stock. American Tower has a consensus rating of “Buy” and a consensus price target of $161.56.
In related news, EVP Edmund Disanto sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $149.53, for a total transaction of $2,242,950.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman James D. Taiclet, Jr. sold 43,843 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $138.92, for a total transaction of $6,090,669.56. Following the transaction, the chairman now owns 223,227 shares in the company, valued at $31,010,694.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,658 shares of company stock worth $27,328,763. Insiders own 0.87% of the company’s stock.
American Tower opened at $149.18 on Friday, Marketbeat Ratings reports. American Tower Corp has a twelve month low of $130.37 and a twelve month high of $155.28. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $66.38 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 1.60 and a beta of 0.83.
American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.04). American Tower had a return on equity of 16.72% and a net margin of 16.34%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. equities analysts forecast that American Tower Corp will post 7.1 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 13th. Stockholders of record on Tuesday, June 19th were issued a $0.77 dividend. The ex-dividend date of this dividend was Monday, June 18th. This is an increase from American Tower’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.06%. American Tower’s payout ratio is 48.28%.
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 160,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.