Tokio Marine Asset Management Co. Ltd. Increases Stock Holdings in American Tower Co. (NYSE:AMT)

Tokio Marine Asset Management Co. Ltd. increased its position in shares of American Tower Co. (NYSE:AMT) by 0.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,262 shares of the real estate investment trust’s stock after acquiring an additional 74 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in American Tower were worth $2,432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC increased its position in shares of American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in American Tower in the 3rd quarter valued at approximately $30,000. Hara Capital LLC acquired a new position in shares of American Tower in the third quarter worth $31,000. Legacy Investment Solutions LLC purchased a new stake in shares of American Tower during the third quarter worth $34,000. Finally, Activest Wealth Management raised its stake in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 125 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

American Tower Trading Down 0.5 %

NYSE:AMT opened at $184.91 on Monday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a market capitalization of $86.41 billion, a price-to-earnings ratio of 78.02, a PEG ratio of 1.23 and a beta of 0.84. The stock has a fifty day moving average price of $190.58 and a two-hundred day moving average price of $210.44.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMT. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Barclays dropped their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.23.

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