Norinchukin Bank The raised its stake in American Tower Co. (NYSE:AMT - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,982 shares of the real estate investment trust's stock after purchasing an additional 1,294 shares during the period. Norinchukin Bank The's holdings in American Tower were worth $3,665,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of American Tower in the fourth quarter valued at approximately $1,164,851,000. Cohen & Steers Inc. raised its holdings in American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock valued at $3,516,890,000 after acquiring an additional 3,437,602 shares in the last quarter. Capital Research Global Investors lifted its position in shares of American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock valued at $1,570,547,000 after acquiring an additional 3,421,413 shares during the period. Capital World Investors grew its holdings in shares of American Tower by 160.6% during the 4th quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock worth $902,396,000 after purchasing an additional 3,032,005 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of American Tower in the fourth quarter worth $193,246,000. 92.69% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on AMT. Mizuho reduced their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Wells Fargo & Company upgraded shares of American Tower from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $210.00 to $230.00 in a research report on Monday, March 17th. JMP Securities began coverage on American Tower in a research note on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target on the stock. Finally, Citigroup boosted their price target on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, American Tower currently has an average rating of "Buy" and a consensus target price of $233.07.
View Our Latest Stock Report on AMT
American Tower Trading Down 3.8 %
Shares of NYSE AMT traded down $8.38 during trading on Wednesday, reaching $212.59. The company had a trading volume of 7,045,949 shares, compared to its average volume of 2,480,529. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $99.38 billion, a P/E ratio of 89.70, a PEG ratio of 1.29 and a beta of 0.87. The company's fifty day moving average price is $209.52 and its 200-day moving average price is $202.35.
American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 EPS. As a group, research analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.
American Tower Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.20%. This is a boost from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio (DPR) is currently 141.37%.
About American Tower
(
Free Report)
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.
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