American Tower Co. (NYSE:AMT) Shares Bought by Mizuho Securities USA LLC

Mizuho Securities USA LLC raised its position in American Tower Co. (NYSE:AMT) by 46.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,288 shares of the real estate investment trust’s stock after acquiring an additional 14,000 shares during the period. Mizuho Securities USA LLC’s holdings in American Tower were worth $8,123,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of AMT. Commerce Bank lifted its stake in shares of American Tower by 1.4% during the third quarter. Commerce Bank now owns 18,168 shares of the real estate investment trust’s stock worth $4,225,000 after buying an additional 245 shares during the period. Jennison Associates LLC lifted its stake in shares of American Tower by 1.5% during the third quarter. Jennison Associates LLC now owns 45,720 shares of the real estate investment trust’s stock worth $10,633,000 after buying an additional 687 shares during the period. Moors & Cabot Inc. lifted its stake in shares of American Tower by 9.2% during the third quarter. Moors & Cabot Inc. now owns 2,725 shares of the real estate investment trust’s stock worth $637,000 after buying an additional 229 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of American Tower during the third quarter worth $364,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of American Tower during the third quarter worth $233,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In related 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 transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of several research reports. Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Scotiabank decreased their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. JMP Securities assumed coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Finally, BMO Capital Markets boosted their target price on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $229.43.

American Tower Stock Up 1.0 %

AMT stock opened at $216.41 on Friday. The stock has a market capitalization of $101.16 billion, a P/E ratio of 91.31, a P/E/G ratio of 1.29 and a beta of 0.85. The firm has a 50-day simple moving average of $195.99 and a 200-day simple moving average of $205.43. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion during 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 company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.29 earnings per share. Equities analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.14%. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is currently 141.37%.

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.