Daiwa Securities Group Inc. Reduces Holdings in American Tower Co. (NYSE:AMT)

by · The Markets Daily

Daiwa Securities Group Inc. cut its position in American Tower Co. (NYSE:AMT – Free Report) by 69.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,932 shares of the real estate investment trust’s stock after selling 451,628 shares during the quarter. Daiwa Securities Group Inc.’s holdings in American Tower were worth $46,961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AMT. Balentine LLC purchased a new position in American Tower in the 3rd quarter valued at about $586,000. Czech National Bank boosted its holdings in American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after purchasing an additional 6,163 shares during the last quarter. Tidal Investments LLC grew its stake in American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after purchasing an additional 4,430 shares in the last quarter. Cetera Advisors LLC increased its holdings in American Tower by 29.0% during the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock worth $8,157,000 after purchasing an additional 9,275 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its position in shares of American Tower by 46.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock valued at $5,980,000 after purchasing an additional 8,195 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of AMT opened at $204.31 on Friday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $95.47 billion, a P/E ratio of 86.21, a PEG ratio of 1.35 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. The stock has a fifty day moving average price of $218.75 and a 200 day moving average price of $211.63.

American Tower (NYSE:AMT – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $2.58 EPS. On average, research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.17%. American Tower’s dividend payout ratio is presently 273.42%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMT. Scotiabank decreased their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price target on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. TD Cowen boosted their price objective on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $235.54.

Get Our Latest Stock Report on American Tower

About American Tower

(Free Report)

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.

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