Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in American Tower Co. (NYSE:AMT)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in American Tower Co. (NYSE:AMT) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 738,680 shares of the real estate investment trust’s stock after purchasing an additional 63,634 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in American Tower were worth $134,853,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in American Tower during the 3rd quarter worth approximately $34,000. Graney & King LLC acquired a new stake in shares of American Tower in the fourth quarter worth $32,000. Roxbury Financial LLC acquired a new position in American Tower during the fourth quarter valued at $32,000. Crowley Wealth Management Inc. acquired a new position in American Tower during the fourth quarter valued at $37,000. Finally, Hobbs Group Advisors LLC grew its position in American Tower by 51.0% during the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of NYSE:AMT opened at $214.38 on Friday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a market capitalization of $100.21 billion, a PE ratio of 90.46, a P/E/G ratio of 1.29 and a beta of 0.85. The business’s 50 day moving average price is $198.39 and its 200-day moving average price is $205.01.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.29 EPS. As a group, equities research analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.17%. American Tower’s dividend payout ratio is presently 141.37%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMT. Scotiabank decreased their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Citigroup upped their price objective on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Mizuho lowered their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Barclays lifted their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $229.43.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

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.