Mizuho Securities USA LLC Makes New Investment in American Tower Corp (NYSE:AMT)
Mizuho Securities USA LLC acquired a new stake in American Tower Corp (NYSE:AMT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,468 shares of the real estate investment trust’s stock, valued at approximately $355,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Morgan Stanley boosted its stake in American Tower by 1.8% in the 1st quarter. Morgan Stanley now owns 3,497,290 shares of the real estate investment trust’s stock worth $761,536,000 after buying an additional 60,486 shares during the last quarter. AXA boosted its position in shares of American Tower by 6.8% in the first quarter. AXA now owns 358,993 shares of the real estate investment trust’s stock worth $78,170,000 after acquiring an additional 22,746 shares during the last quarter. Cox Capital Mgt LLC grew its holdings in American Tower by 3.0% in the second quarter. Cox Capital Mgt LLC now owns 4,116 shares of the real estate investment trust’s stock valued at $1,064,000 after purchasing an additional 120 shares during the period. Modus Advisors LLC acquired a new position in American Tower during the second quarter worth approximately $34,000. Finally, Park National Corp OH raised its stake in American Tower by 14.0% during the second quarter. Park National Corp OH now owns 43,645 shares of the real estate investment trust’s stock worth $11,284,000 after purchasing an additional 5,365 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Steven O. Vondran sold 1,500 shares of American Tower stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $248.44, for a total transaction of $372,660.00. Following the completion of the sale, the executive vice president now owns 23,724 shares of the company’s stock, valued at $5,893,990.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Steven O. Vondran sold 1,334 shares of American Tower stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $259.00, for a total value of $345,506.00. Following the sale, the executive vice president now owns 22,224 shares of the company’s stock, valued at $5,756,016. The disclosure for this sale can be found here. Insiders have sold 22,447 shares of company stock valued at $5,790,042 over the last 90 days. 0.65% of the stock is currently owned by insiders.
American Tower (NYSE:AMT) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.99). The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. American Tower had a net margin of 24.70% and a return on equity of 39.62%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.01 earnings per share. On average, sell-side analysts predict that American Tower Corp will post 8 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Monday, September 28th were given a dividend of $1.14 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Friday, September 25th. This represents a $4.56 annualized dividend and a dividend yield of 1.98%. American Tower’s dividend payout ratio (DPR) is 58.99%.
A number of analysts have recently commented on the company. Credit Suisse Group restated a “buy” rating and set a $300.00 price objective on shares of American Tower in a report on Friday, July 31st. KeyCorp downgraded American Tower from an “overweight” rating to a “sector weight” rating in a report on Monday, July 13th. Barclays started coverage on American Tower in a report on Wednesday, July 15th. They set an “overweight” rating and a $296.00 target price for the company. Oppenheimer assumed coverage on shares of American Tower in a research report on Tuesday, August 11th. They set a “buy” rating and a $290.00 target price for the company. Finally, Wells Fargo & Company reduced their price target on shares of American Tower from $290.00 to $285.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 16th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $272.08.
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 approximately 171,000 communications sites.
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