Nomura Asset Management Co. Ltd. cut its stake in American Tower Corporation (REIT) (NYSE:AMT) by 11.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,766 shares of the real estate investment trust’s stock after selling 6,064 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in American Tower Corporation (REIT) were worth $5,927,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Integrated Investment Consultants LLC increased its stake in shares of American Tower Corporation (REIT) by 0.9% in the first quarter. Integrated Investment Consultants LLC now owns 1,485 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 13 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of American Tower Corporation (REIT) by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 1,650 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 19 shares during the last quarter. Homrich & Berg increased its stake in shares of American Tower Corporation (REIT) by 0.3% in the first quarter. Homrich & Berg now owns 7,046 shares of the real estate investment trust’s stock valued at $856,000 after buying an additional 24 shares during the last quarter. iAB Financial Bank increased its stake in shares of American Tower Corporation (REIT) by 1.8% in the first quarter. iAB Financial Bank now owns 2,035 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 35 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. increased its stake in shares of American Tower Corporation (REIT) by 1.9% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 1,934 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 36 shares during the last quarter. 93.21% of the stock is owned by institutional investors.
American Tower Corporation (NYSE:AMT) opened at 136.24 on Friday. The firm has a market cap of $57.90 billion, a PE ratio of 65.78 and a beta of 0.71. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $138.00. The company has a 50 day moving average price of $132.46 and a 200 day moving average price of $120.50.
American Tower Corporation (REIT) (NYSE:AMT) last issued its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by $0.84. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.58 billion. American Tower Corporation (REIT) had a net margin of 16.32% and a return on equity of 14.26%. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 earnings per share. On average, equities research analysts forecast that American Tower Corporation will post $3.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 19th were given a $0.64 dividend. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Thursday, June 15th. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is currently 124.27%.
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Several equities research analysts have recently weighed in on the company. Cowen and Company reaffirmed a “buy” rating and issued a $155.00 target price on shares of American Tower Corporation (REIT) in a research report on Wednesday. Citigroup Inc. downgraded American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 target price for the company. in a research report on Monday, June 12th. BidaskClub downgraded American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research downgraded American Tower Corporation (REIT) from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of American Tower Corporation (REIT) in a research report on Monday, June 12th. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. American Tower Corporation (REIT) currently has an average rating of “Buy” and a consensus price target of $140.17.
In related news, EVP Amit Sharma sold 61,096 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $126.57, for a total value of $7,732,920.72. Following the completion of the sale, the executive vice president now owns 177,556 shares in the company, valued at $22,473,262.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David E. Sharbutt sold 3,653 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $128.61, for a total transaction of $469,812.33. Following the completion of the sale, the director now owns 10,098 shares of the company’s stock, valued at approximately $1,298,703.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,350 shares of company stock worth $17,042,690. 0.86% of the stock is currently owned by company insiders.
About American Tower Corporation (REIT)
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
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