7,000 Shares in American Tower Co. (NYSE:AMT) Purchased by Mitsubishi UFJ Asset Management UK Ltd.

Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in American Tower Co. (NYSE:AMT) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 7,000 shares of the real estate investment trust’s stock, valued at approximately $1,628,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the 1st quarter valued at approximately $25,000. Fairscale Capital LLC acquired a new stake in shares of American Tower during the second quarter worth $27,000. Cultivar Capital Inc. acquired a new position in shares of American Tower in the 2nd quarter valued at about $25,000. Hobbs Group Advisors LLC bought a new stake in shares of American Tower during the 2nd quarter valued at about $29,000. Finally, Family Firm Inc. acquired a new stake in American Tower during the second quarter worth about $35,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research reports. Mizuho lifted their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. TD Cowen increased their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada upped their price target on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, The Goldman Sachs Group began coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $237.92.

Insider Buying and Selling at American Tower

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the transaction, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock valued at $7,795,397 in the last quarter. Company insiders own 0.18% of the company’s stock.

American Tower Stock Up 1.0 %

Shares of AMT stock traded up $2.14 on Friday, reaching $226.30. 1,441,933 shares of the company’s stock traded hands, compared to its average volume of 2,280,343. The company has a market capitalization of $105.68 billion, a P/E ratio of 51.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.83. American Tower Co. has a 12-month low of $157.25 and a 12-month high of $243.56. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50 day moving average price is $228.62 and its two-hundred day moving average price is $206.42.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. On average, equities analysts forecast that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be given a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.86%. American Tower’s payout ratio is 146.61%.

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