Tilt Investment Management Holdings PBC Makes New Investment in American Tower Co. (NYSE:AMT)

Tilt Investment Management Holdings PBC acquired a new stake in shares of American Tower Co. (NYSE:AMT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,871 shares of the real estate investment trust’s stock, valued at approximately $407,000.

A number of other large investors also recently modified their holdings of AMT. Pinnacle Holdings LLC bought a new position in American Tower during the first quarter valued at approximately $29,000. Eagle Bay Advisors LLC purchased a new stake in shares of American Tower in the 2nd quarter valued at $30,000. VitalStone Financial LLC bought a new position in shares of American Tower during the 1st quarter valued at $38,000. Thompson Investment Management Inc. bought a new position in shares of American Tower during the 4th quarter valued at $29,000. Finally, McClarren Financial Advisors Inc. purchased a new position in American Tower in the 3rd quarter worth $27,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Down 0.5 %

Shares of NYSE AMT traded down $0.87 during midday trading on Thursday, hitting $171.15. 1,398,057 shares of the company traded hands, compared to its average volume of 2,408,066. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The firm has a market cap of $79.82 billion, a P/E ratio of 54.09, a P/E/G ratio of 1.42 and a beta of 0.67. The stock has a 50-day moving average price of $192.83 and a 200 day moving average price of $193.58. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $2.34 EPS. As a group, analysts expect that American Tower Co. will post 10.06 earnings per share for the current year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.79%. American Tower’s dividend payout ratio (DPR) is 203.77%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets decreased their price target on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Morgan Stanley increased their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday. Mizuho started coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. Finally, Barclays raised their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $217.36.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.