Mitsubishi UFJ Asset Management UK Ltd. Invests $1.63 Million in American Tower Co. (NYSE:AMT)

Mitsubishi UFJ Asset Management UK Ltd. purchased a new position in shares of American Tower Co. (NYSE:AMT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,000 shares of the real estate investment trust’s stock, valued at approximately $1,628,000.

Other large investors have also recently added to or reduced their stakes in the company. Meyer Handelman Co. purchased a new position in shares of American Tower during the 1st quarter worth approximately $801,000. Czech National Bank raised its position in American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after acquiring an additional 6,163 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in American Tower by 13.8% in the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after acquiring an additional 4,660 shares during the period. Tidal Investments LLC boosted its position in shares of American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after purchasing an additional 4,430 shares in the last quarter. Finally, Cetera Advisors LLC grew its stake in shares of American Tower by 29.0% during the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock worth $8,157,000 after purchasing an additional 9,275 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

AMT stock traded up $2.14 during trading on Friday, hitting $226.30. The stock had a trading volume of 1,441,933 shares, compared to its average volume of 2,280,343. The stock has a market cap of $105.68 billion, a price-to-earnings ratio of 51.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.83. 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 company’s 50 day moving average price is $228.62 and its two-hundred day moving average price is $206.42. American Tower Co. has a 1-year low of $157.25 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 EPS. On average, sell-side analysts forecast that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be issued a $1.62 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 2.86%. American Tower’s payout ratio is 146.61%.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research analyst reports. Scotiabank boosted their price objective on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. TD Cowen boosted their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. BMO Capital Markets lifted their price objective on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Finally, Royal Bank of Canada upped their target price on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price of $237.92.

Insider Buying and Selling at American Tower

In other news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock valued at $7,795,397 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

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