Nomura Asset Management Co. Ltd. Has $42.89 Million Stock Holdings in American Tower Corporation $AMT

Nomura Asset Management Co. Ltd. lifted its holdings in shares of American Tower Corporation (NYSE:AMT) by 9.4% during the 2nd quarter, Holdings Channel reports. The firm owned 194,073 shares of the real estate investment trust’s stock after purchasing an additional 16,664 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in American Tower were worth $42,894,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. grew its position in shares of American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 60 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the 2nd quarter valued at $31,000. Rosenberg Matthew Hamilton boosted its stake in American Tower by 86.0% during the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. Saudi Central Bank bought a new position in American Tower during the first quarter worth $40,000. Finally, Accredited Wealth Management LLC grew its holdings in American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 135 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMT has been the topic of several research reports. Barclays dropped their price objective on shares of American Tower from $251.00 to $203.00 and set an “overweight” rating on the stock in a report on Monday. Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. JPMorgan Chase & Co. cut their price target on American Tower from $255.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a report on Thursday. Finally, Morgan Stanley lowered their target price on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $228.44.

American Tower Price Performance

Shares of NYSE AMT opened at $180.41 on Tuesday. The stock has a market cap of $84.46 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 1.08 and a beta of 0.85. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The firm’s 50-day simple moving average is $188.10 and its 200 day simple moving average is $204.98.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the business posted $2.52 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio is presently 108.63%.

Insiders Place Their Bets

In other news, Director Eugene F. Reilly acquired 5,554 shares of the business’s stock in a transaction on Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

American Tower Company 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.