American Tower Co. (NYSE:AMT) Shares Bought by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. lifted its holdings in American Tower Co. (NYSE:AMT) by 28.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 842 shares of the real estate investment trust’s stock after acquiring an additional 184 shares during the quarter. Global X Japan Co. Ltd.’s holdings in American Tower were worth $154,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC increased its stake in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the third quarter worth about $30,000. Hara Capital LLC purchased a new position in shares of American Tower in the third quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower during the third quarter valued at approximately $34,000. Finally, Activest Wealth Management lifted its position in shares of American Tower by 431.0% in the 3rd 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.

Analyst Ratings Changes

Several brokerages have issued reports on AMT. Scotiabank cut their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Barclays dropped their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company dropped their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Mizuho lowered their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $226.23.

American Tower Stock Down 0.4 %

American Tower stock opened at $188.91 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The firm’s fifty day simple moving average is $188.84 and its 200-day simple moving average is $209.77. The company has a market capitalization of $88.28 billion, a P/E ratio of 79.71, a P/E/G ratio of 1.27 and a beta of 0.84.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.43%. American Tower’s dividend payout ratio is currently 273.42%.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

About American Tower

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.