Sumitomo Mitsui DS Asset Management Company Ltd Purchases 2,475 Shares of American Tower Co. (NYSE:AMT)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,142 shares of the real estate investment trust’s stock after purchasing an additional 2,475 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in American Tower were worth $10,847,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of AMT. State Street Corp lifted its holdings in shares of American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after acquiring an additional 635,726 shares during the last quarter. Geode Capital Management LLC raised its position in American Tower by 1.9% during the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after purchasing an additional 204,426 shares during the period. FMR LLC lifted its stake in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of American Tower by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock valued at $1,211,397,000 after purchasing an additional 243,061 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock valued at $981,455,000 after buying an additional 38,436 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $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 SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. JMP Securities assumed coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. Wells Fargo & Company cut their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $226.23.

American Tower Price Performance

AMT 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. The business’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 price-to-earnings ratio of 79.71, a PEG ratio of 1.24 and a beta of 0.84. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower Dividend Announcement

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

American Tower Company 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.