Twin Capital Management Inc. Grows Holdings in American Tower Corporation (NYSE:AMT)

Twin Capital Management Inc. lifted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 58.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,707 shares of the real estate investment trust's stock after buying an additional 3,588 shares during the quarter. Twin Capital Management Inc.'s holdings in American Tower were worth $2,112,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Elmwood Wealth Management Inc. grew its position in American Tower by 2.5% during the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock valued at $454,000 after purchasing an additional 50 shares during the last quarter. 4J Wealth Management LLC grew its position in American Tower by 4.0% during the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock valued at $283,000 after purchasing an additional 50 shares during the last quarter. Coyle Financial Counsel LLC grew its position in American Tower by 2.4% during the 1st quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock valued at $487,000 after purchasing an additional 53 shares during the last quarter. CreativeOne Wealth LLC grew its position in American Tower by 2.1% during the 4th 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 during the last quarter. Finally, Fortitude Advisory Group L.L.C. grew its position in American Tower by 2.9% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock valued at $416,000 after purchasing an additional 54 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

NYSE AMT opened at $224.87 on Friday. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The stock has a market cap of $105.27 billion, a price-to-earnings ratio of 57.81, a PEG ratio of 1.67 and a beta of 0.82. The company's 50 day moving average is $216.53 and its two-hundred day moving average is $207.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm's revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.79 EPS. As a group, research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Friday, June 13th. American Tower's dividend payout ratio (DPR) is presently 174.81%.

Wall Street Analyst Weigh In

Several analysts recently commented on AMT shares. Wells Fargo & Company increased their price objective on shares of American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Bank of America assumed coverage on shares of American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 target price on the stock. Morgan Stanley assumed coverage on shares of American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. Royal Bank Of Canada upped their target price on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, JMP Securities upped their target price on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, American Tower has a consensus rating of "Buy" and a consensus target price of $240.88.

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.

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