American Tower Corp (NYSE:AMT) Shares Purchased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its position in shares of American Tower Corp (NYSE:AMT) by 41.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,010 shares of the real estate investment trust’s stock after acquiring an additional 876 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in American Tower were worth $615,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI increased its stake in American Tower by 136.6% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 34,931 shares of the real estate investment trust’s stock worth $7,142,000 after purchasing an additional 20,167 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in American Tower by 5.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 75,512 shares of the real estate investment trust’s stock valued at $15,438,000 after acquiring an additional 3,774 shares in the last quarter. Stock Yards Bank & Trust Co. grew its stake in American Tower by 0.8% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 98,498 shares of the real estate investment trust’s stock valued at $20,138,000 after acquiring an additional 804 shares in the last quarter. Autus Asset Management LLC grew its stake in American Tower by 45.4% during the 2nd quarter. Autus Asset Management LLC now owns 7,391 shares of the real estate investment trust’s stock valued at $1,511,000 after acquiring an additional 2,309 shares in the last quarter. Finally, Meridian Wealth Management LLC grew its stake in American Tower by 56.3% during the 1st quarter. Meridian Wealth Management LLC now owns 4,133 shares of the real estate investment trust’s stock valued at $814,000 after acquiring an additional 1,488 shares in the last quarter. 94.09% of the stock is currently owned by hedge funds and other institutional investors.

In other American Tower news, CEO James D. Taiclet, Jr. sold 57,439 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $207.93, for a total value of $11,943,291.27. Following the sale, the chief executive officer now directly owns 255,415 shares in the company, valued at $53,108,440.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert Joseph Meyer, Jr. sold 44,168 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 54,460 shares in the company, valued at $10,801,051.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,846 shares of company stock worth $36,141,479. 0.75% of the stock is currently owned by company insiders.

Several research firms have weighed in on AMT. Royal Bank of Canada lifted their target price on American Tower from $195.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Wells Fargo & Co lowered American Tower from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $190.00 to $196.00 in a report on Monday, April 15th. They noted that the move was a valuation call. KeyCorp lifted their price target on American Tower from $207.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. They noted that the move was a valuation call. Morgan Stanley lifted their price target on American Tower from $185.00 to $201.00 and gave the company an “equal weight” rating in a report on Monday, May 20th. Finally, SunTrust Banks lifted their price target on American Tower to $230.00 and gave the company a “buy” rating in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $193.38.

NYSE AMT traded down $2.50 during trading on Monday, hitting $212.97. The company’s stock had a trading volume of 1,440,843 shares, compared to its average volume of 1,590,184. The company has a current ratio of 0.49, a quick ratio of 0.50 and a debt-to-equity ratio of 4.13. The business’s 50 day moving average is $209.27. The firm has a market cap of $95.24 billion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 1.76 and a beta of 0.50. American Tower Corp has a 52 week low of $140.40 and a 52 week high of $218.79.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.91). The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.83 billion. American Tower had a return on equity of 24.75% and a net margin of 19.30%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.74 earnings per share. As a group, analysts predict that American Tower Corp will post 7.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Wednesday, June 19th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, June 18th. This is a boost from American Tower’s previous quarterly dividend of $0.90. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.73%. American Tower’s payout ratio is currently 46.06%.

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 approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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