American Tower Co. (NYSE:AMT) Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. raised its stake in American Tower Co. (NYSE:AMT) by 11.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,456 shares of the real estate investment trust’s stock after acquiring an additional 740 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in American Tower were worth $1,449,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower in the first quarter valued at $25,000. Cultivar Capital Inc. purchased a new stake in shares of American Tower in the second quarter valued at $25,000. Gold Investment Management Ltd. purchased a new stake in shares of American Tower in the fourth quarter valued at $28,000. Hobbs Group Advisors LLC purchased a new stake in shares of American Tower in the second quarter valued at $29,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in shares of American Tower in the first quarter valued at $30,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was 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 in the company, valued at $12,070,789.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was 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 owns 51,746 shares in the company, valued at $12,070,789.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AMT has been the subject of a number of recent analyst reports. Mizuho lifted their price objective on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. TD Cowen lifted their price objective on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank boosted their price target on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price target on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $233.29.

American Tower Price Performance

Shares of NYSE AMT opened at $232.31 on Friday. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $243.56. The business has a 50-day moving average of $224.08 and a 200-day moving average of $202.24. The company has a market capitalization of $108.48 billion, a price-to-earnings ratio of 52.56, a PEG ratio of 1.60 and a beta of 0.83.

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

American Tower Dividend Announcement

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 paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 146.61%.

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.