Howland Capital Management LLC Has $42.82 Million Stake in American Tower Corporation (NYSE:AMT)

Key Points

• Howland Capital Management LLC reduced its stake in American Tower Corporation by 3.4%, bringing its ownership to approximately 196,801 shares valued at $42.8 million.
• American Tower's stock has seen mixed analyst ratings, with HSBC downgrading it to a "hold" while Barclays upgraded its price target to $246, indicating varying perspectives on its future performance.
• The company recently announced a quarterly dividend of $1.70 per share, representing a 3.3% dividend yield, albeit with a high dividend payout ratio of 247.27%.

Howland Capital Management LLC reduced its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 196,801 shares of the real estate investment trust's stock after selling 7,024 shares during the quarter. American Tower makes up 1.9% of Howland Capital Management LLC's investment portfolio, making the stock its 15th biggest holding. Howland Capital Management LLC's holdings in American Tower were worth $42,824,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Elmwood Wealth Management Inc. increased its position in shares of American Tower by 2.5% during the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after buying an additional 50 shares during the period. 4J Wealth Management LLC lifted its stake in shares of American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock valued at $283,000 after buying an additional 50 shares in the last quarter. TCTC Holdings LLC lifted its stake in shares of American Tower by 15.8% in the first quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock valued at $81,000 after buying an additional 51 shares in the last quarter. Coyle Financial Counsel LLC lifted its stake in shares of American Tower by 2.4% in the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock valued at $487,000 after buying an additional 53 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its position in shares of American Tower by 2.1% during the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after purchasing an additional 54 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Barclays raised their price objective on shares of American Tower from $223.00 to $246.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. JMP Securities raised their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. BMO Capital Markets reiterated an "outperform" rating and set a $245.00 target price (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Hsbc Global Res lowered shares of American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company lowered their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, American Tower currently has an average rating of "Moderate Buy" and an average target price of $243.88.

American Tower Price Performance

Shares of AMT stock traded down $1.97 during mid-day trading on Tuesday, reaching $211.02. The stock had a trading volume of 937,294 shares, compared to its average volume of 2,623,661. The company has a market cap of $98.78 billion, a P/E ratio of 76.61, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. The business has a 50-day simple moving average of $218.75 and a 200 day simple moving average of $210.83. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%. The company's revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.79 EPS. On average, sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, June 13th. American Tower's dividend payout ratio is presently 247.27%.

Insider Buying and Selling

In other news, CEO Juan Font sold 720 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by insiders.

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