Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Buys 737 Shares of American Tower Corp (NYSE:AMT)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of American Tower Corp (NYSE:AMT) by 0.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 89,608 shares of the real estate investment trust’s stock after acquiring an additional 737 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in American Tower were worth $19,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMT. Assenagon Asset Management S.A. purchased a new stake in American Tower during the fourth quarter valued at about $383,000. Capital Investment Advisors LLC lifted its holdings in shares of American Tower by 5.7% in the fourth quarter. Capital Investment Advisors LLC now owns 1,785 shares of the real estate investment trust’s stock worth $410,000 after buying an additional 97 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of American Tower by 24.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 81,076 shares of the real estate investment trust’s stock worth $18,633,000 after buying an additional 15,699 shares in the last quarter. CENTRAL TRUST Co lifted its holdings in shares of American Tower by 18.3% in the fourth quarter. CENTRAL TRUST Co now owns 5,038 shares of the real estate investment trust’s stock worth $1,158,000 after buying an additional 781 shares in the last quarter. Finally, Mission Wealth Management LP lifted its holdings in shares of American Tower by 9.2% in the fourth quarter. Mission Wealth Management LP now owns 1,291 shares of the real estate investment trust’s stock worth $297,000 after buying an additional 109 shares in the last quarter. 91.73% of the stock is currently owned by institutional investors and hedge funds.

NYSE AMT traded up $11.80 on Friday, reaching $239.96. 1,613,416 shares of the company’s stock traded hands, compared to its average volume of 1,986,447. American Tower Corp has a 12 month low of $174.32 and a 12 month high of $260.43. The company has a debt-to-equity ratio of 6.91, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a 50-day simple moving average of $239.36 and a 200 day simple moving average of $229.42. The stock has a market cap of $102.02 billion, a PE ratio of 53.43, a P/E/G ratio of 1.95 and a beta of 0.44.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.12). American Tower had a net margin of 24.55% and a return on equity of 35.63%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the previous year, the business earned $1.84 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. As a group, analysts anticipate that American Tower Corp will post 8 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 19th will be issued a $1.10 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $4.40 annualized dividend and a dividend yield of 1.83%. American Tower’s dividend payout ratio (DPR) is currently 55.89%.

In other news, Director David E. Sharbutt sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $243.60, for a total value of $535,920.00. Following the transaction, the director now owns 4,097 shares in the company, valued at $998,029.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven O. Vondran sold 1,229 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $205.81, for a total transaction of $252,940.49. Following the completion of the transaction, the executive vice president now owns 27,469 shares in the company, valued at approximately $5,653,394.89. The disclosure for this sale can be found here. Insiders sold 14,392 shares of company stock worth $3,343,752 in the last 90 days. Company insiders own 0.65% of the company’s stock.

A number of brokerages have recently issued reports on AMT. Credit Suisse Group began coverage on shares of American Tower in a report on Tuesday, April 28th. They issued an “outperform” rating and a $308.00 price target on the stock. KeyCorp increased their price target on shares of American Tower from $254.00 to $273.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating in a research note on Thursday, March 12th. Wells Fargo & Co raised their target price on shares of American Tower from $265.00 to $272.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Citigroup raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $280.00 target price on the stock in a research note on Thursday, March 5th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $257.38.

American Tower 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 approximately 171,000 communications sites.

Further Reading: What is the G-20?

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

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