Norinchukin Bank The Increases Stock Position in American Tower Co. (NYSE:AMT)

Norinchukin Bank The lifted its position in shares of American Tower Co. (NYSE:AMT) by 6.9% during the fourth quarter, Holdings Channel reports. The firm owned 19,982 shares of the real estate investment trust’s stock after acquiring an additional 1,294 shares during the quarter. Norinchukin Bank The’s holdings in American Tower were worth $3,665,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Roxbury Financial LLC purchased a new stake in American Tower in the fourth quarter valued at approximately $32,000. Graney & King LLC acquired a new stake in American Tower during the 4th quarter worth $32,000. Crowley Wealth Management Inc. purchased a new position in American Tower during the 4th quarter worth $37,000. Bank of Jackson Hole Trust acquired a new position in American Tower in the fourth quarter valued at $46,000. Finally, Versant Capital Management Inc raised its holdings in shares of American Tower by 113.9% in the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 139 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Citigroup boosted their price objective on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Morgan Stanley started coverage on shares of American Tower in a report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 target price on the stock. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $210.00 to $230.00 in a report on Monday, March 17th. Finally, Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $232.07.

American Tower Price Performance

American Tower stock opened at $223.03 on Friday. The firm has a market capitalization of $104.26 billion, a PE ratio of 94.10, a P/E/G ratio of 1.29 and a beta of 0.87. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The firm’s 50-day simple moving average is $208.33 and its 200 day simple moving average is $202.44. 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 (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the firm earned $2.29 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend 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.