Nomura Asset Management Co. Ltd. Has $32.87 Million Position in American Tower Co. (NYSE:AMT)

Nomura Asset Management Co. Ltd. lifted its stake in American Tower Co. (NYSE:AMT - Free Report) by 4.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,328 shares of the real estate investment trust's stock after buying an additional 5,631 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in American Tower were worth $32,867,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Cultivar Capital Inc. purchased a new stake in American Tower in the 2nd quarter worth about $25,000. Fortitude Family Office LLC lifted its position in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 78 shares during the period. Fairscale Capital LLC purchased a new position in shares of American Tower during the second quarter worth $27,000. Hobbs Group Advisors LLC purchased a new stake in American Tower in the 2nd quarter worth approximately $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in American Tower in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. Mizuho boosted their price objective on American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. StockNews.com lowered American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. BMO Capital Markets reduced their target price on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price objective on American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $235.54.

American Tower Stock Performance

NYSE:AMT traded down $9.46 during mid-day trading on Tuesday, hitting $199.58. The stock had a trading volume of 2,653,326 shares, compared to its average volume of 2,325,503. The stock has a market capitalization of $93.26 billion, a price-to-earnings ratio of 84.19, a P/E/G ratio of 1.38 and a beta of 0.83. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a 50 day simple moving average of $212.85 and a 200-day simple moving average of $213.27.

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

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, December 27th. 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.