Global X Japan Co. Ltd. Boosts Stake in American Tower Co. (NYSE:AMT)

Global X Japan Co. Ltd. lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 28.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMT. FMR LLC grew its stake in American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC lifted its holdings in American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after buying an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC grew its position in shares of American Tower by 23,224.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after acquiring an additional 993,061 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of American Tower by 22,242.7% in the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after acquiring an additional 775,379 shares during the last quarter. Finally, State Street Corp raised its position in shares of American Tower by 3.1% during 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 in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’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 transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

AMT has been the subject of a number of research reports. Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company dropped their price objective on shares of 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. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, 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. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Trading Down 0.4 %

NYSE:AMT opened at $188.91 on Friday. The stock has a market cap of $88.28 billion, a price-to-earnings ratio of 79.71, a PEG ratio of 1.27 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The business has a fifty day moving average of $188.84 and a 200-day moving average of $209.77.

American Tower Dividend Announcement

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

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.