Daiwa Securities Group Inc. decreased its holdings in shares of American Tower Corp (NYSE:AMT) by 25.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 668,431 shares of the real estate investment trust’s stock after selling 232,049 shares during the quarter. Daiwa Securities Group Inc. owned approximately 0.15% of American Tower worth $131,721,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in AMT. Vanguard Group Inc raised its position in shares of American Tower by 6.7% in the third quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock valued at $8,229,130,000 after purchasing an additional 3,579,249 shares during the period. FMR LLC raised its position in shares of American Tower by 32.6% in the fourth quarter. FMR LLC now owns 20,144,710 shares of the real estate investment trust’s stock valued at $3,186,692,000 after purchasing an additional 4,949,323 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of American Tower by 15,525.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,579,832 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 7,531,324 shares during the period. Dimensional Fund Advisors LP raised its position in shares of American Tower by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,557,968 shares of the real estate investment trust’s stock valued at $1,037,413,000 after purchasing an additional 144,064 shares during the period. Finally, Northern Trust Corp raised its position in shares of American Tower by 2.4% in the fourth quarter. Northern Trust Corp now owns 6,552,256 shares of the real estate investment trust’s stock valued at $1,036,502,000 after purchasing an additional 151,008 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.
In other news, SVP Robert Joseph Meyer, Jr. sold 44,168 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $198.33, for a total value of $8,759,839.44. Following the sale, the senior vice president now directly owns 54,460 shares in the company, valued at approximately $10,801,051.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Olivier Puech sold 1,169 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $188.18, for a total transaction of $219,982.42. Following the completion of the sale, the executive vice president now owns 19,147 shares in the company, valued at $3,603,082.46. The disclosure for this sale can be found here. Insiders have sold 215,986 shares of company stock worth $41,954,910 over the last quarter. Corporate insiders own 0.75% of the company’s stock.
American Tower stock traded up $2.50 during trading hours on Wednesday, reaching $200.67. 904,879 shares of the stock were exchanged, compared to its average volume of 1,757,085. The company has a market capitalization of $89.48 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 1.65 and a beta of 0.66. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 4.31. American Tower Corp has a twelve month low of $134.87 and a twelve month high of $203.38.
American Tower (NYSE:AMT) last announced its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.04. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. American Tower had a net margin of 17.95% and a return on equity of 22.61%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. On average, sell-side analysts expect that American Tower Corp will post 7.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, June 19th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.83%. This is an increase from American Tower’s previous quarterly dividend of $0.90. American Tower’s dividend payout ratio is presently 45.06%.
Several brokerages have recently weighed in on AMT. Morgan Stanley increased their price objective on shares of American Tower from $185.00 to $201.00 and gave the company an “equal weight” rating in a research report on Monday. Royal Bank of Canada increased their price objective on shares of American Tower from $195.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. SunTrust Banks upped their price target on shares of American Tower to $210.00 and gave the company a “positive” rating in a research note on Monday, May 6th. Wells Fargo & Co downgraded shares of American Tower from an “outperform” rating to a “market perform” rating and upped their price target for the company from $190.00 to $196.00 in a research note on Monday, April 15th. They noted that the move was a valuation call. Finally, Bank of America upped their price target on shares of American Tower from $172.00 to $208.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $181.44.
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American Tower Company 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 171,000 communications sites.
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