184,231 Shares in American Tower Co. (NYSE:AMT) Acquired by Nan Shan Life Insurance Co. Ltd.

Nan Shan Life Insurance Co. Ltd. purchased a new position in American Tower Co. (NYSE:AMT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 184,231 shares of the real estate investment trust’s stock, valued at approximately $33,790,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Minot DeBlois Advisors LLC purchased a new position in American Tower in the fourth quarter valued at approximately $29,000. Roxbury Financial LLC acquired a new position in shares of American Tower in the 4th quarter valued at $32,000. Graney & King LLC purchased a new position in shares of American Tower in the 4th quarter valued at $32,000. Crowley Wealth Management Inc. acquired a new stake in American Tower during the 4th quarter worth $37,000. Finally, Bank of Jackson Hole Trust purchased a new stake in American Tower in the fourth quarter valued at $46,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Down 1.6%

Shares of AMT stock opened at $204.57 on Wednesday. The stock has a market cap of $95.63 billion, a P/E ratio of 86.32, a P/E/G ratio of 1.29 and a beta of 0.86. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The business has a fifty day simple moving average of $215.07 and a 200-day simple moving average of $201.68.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the firm posted $2.79 EPS. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, April 11th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Friday, April 11th. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is 174.81%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley assumed coverage on American Tower in a research report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 target price on the stock. BMO Capital Markets boosted their price objective on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. UBS Group upped their price target on shares of American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company raised their price target on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $239.27.

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.