Tokio Marine Asset Management Co. Ltd. cut its holdings in shares of American Tower Corp (NYSE:AMT) by 16.8% in the 4th quarter, Holdings Channel reports. The firm owned 3,652 shares of the real estate investment trust’s stock after selling 740 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in American Tower were worth $521,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Howe & Rusling Inc. lifted its stake in American Tower by 1,608.0% during the third quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 804 shares during the last quarter. Legacy Advisors LLC bought a new stake in American Tower during the third quarter worth $132,000. Fieldpoint Private Securities LLC lifted its stake in shares of American Tower by 69.6% in the 3rd quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock valued at $145,000 after acquiring an additional 435 shares during the last quarter. Americafirst Capital Management LLC bought a new position in shares of American Tower in the 3rd quarter valued at $173,000. Finally, Laurel Wealth Advisors Inc. bought a new position in shares of American Tower in the 3rd quarter valued at $202,000. Hedge funds and other institutional investors own 91.75% of the company’s stock.

American Tower Corp (NYSE AMT) opened at $136.05 on Friday. The stock has a market capitalization of $57,282.30, a price-to-earnings ratio of 51.73, a P/E/G ratio of 1.26 and a beta of 0.77. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61. American Tower Corp has a 12-month low of $103.47 and a 12-month high of $155.28.

American Tower announced that its Board of Directors has authorized a share buyback program on Thursday, December 7th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Thursday, December 28th were given a dividend of $0.70 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 2.06%. The ex-dividend date was Wednesday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 106.46%.

In related news, Chairman James D. Taiclet, Jr. sold 34,667 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $142.52, for a total transaction of $4,940,740.84. Following the completion of the transaction, the chairman now directly owns 305,374 shares of the company’s stock, valued at approximately $43,521,902.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $151.20, for a total value of $5,140,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,251 shares of company stock valued at $11,026,134. 0.86% of the stock is owned by corporate insiders.

AMT has been the subject of a number of research reports. Zacks Investment Research upgraded American Tower from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research note on Friday, November 3rd. Oppenheimer increased their price target on American Tower from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Morgan Stanley reiterated an “overweight” rating and issued a $172.00 price target on shares of American Tower in a research note on Wednesday, December 13th. KeyCorp set a $156.00 price target on American Tower and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Finally, ValuEngine cut American Tower from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $158.60.

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American Tower Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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