American Tower Co. (NYSE:AMT) Shares Acquired by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lifted its holdings in American Tower Co. (NYSE:AMT - Free Report) by 50.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,310 shares of the real estate investment trust's stock after acquiring an additional 20,825 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in American Tower were worth $14,491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Patton Albertson Miller Group LLC acquired a new stake in American Tower during the third quarter valued at $215,000. Loomis Sayles & Co. L P grew its position in American Tower by 16.1% during the third quarter. Loomis Sayles & Co. L P now owns 44,973 shares of the real estate investment trust's stock valued at $10,459,000 after buying an additional 6,236 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in American Tower during the third quarter valued at $1,147,000. Dynamic Technology Lab Private Ltd grew its position in American Tower by 252.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 4,800 shares of the real estate investment trust's stock valued at $1,116,000 after buying an additional 3,437 shares during the period. Finally, Fisher Asset Management LLC grew its position in American Tower by 3.2% during the third quarter. Fisher Asset Management LLC now owns 1,731,570 shares of the real estate investment trust's stock valued at $402,694,000 after buying an additional 52,925 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Mizuho lifted their target price on shares of American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. StockNews.com lowered shares of American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. Finally, TD Cowen lifted their target price on shares of American Tower from $226.00 to $239.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $235.54.

American Tower Trading Down 0.2 %

AMT stock traded down $0.41 during trading on Tuesday, reaching $207.14. 1,097,128 shares of the stock were exchanged, compared to its average volume of 2,320,942. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The business has a 50 day moving average price of $218.10 and a 200-day moving average price of $211.99. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a market capitalization of $96.79 billion, a price-to-earnings ratio of 87.59, a P/E/G ratio of 1.36 and a beta of 0.84.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.77 billion. During the same period last year, the firm earned $2.58 earnings per share. American Tower's revenue for the quarter was down 10.5% on a year-over-year basis. On average, research analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower's dividend payout ratio (DPR) is presently 273.42%.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.