Howland Capital Management LLC trimmed its position in American Tower Corporation (NYSE:AMT – Free Report) by 18.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 159,742 shares of the real estate investment trust’s stock after selling 35,706 shares during the period. American Tower comprises 1.1% of Howland Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. Howland Capital Management LLC’s holdings in American Tower were worth $28,313,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of the company. Riverwater Partners LLC raised its stake in shares of American Tower by 3.8% in the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 56 shares in the last quarter. Triumph Capital Management raised its stake in shares of American Tower by 37.3% in the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 56 shares in the last quarter. Personal CFO Solutions LLC raised its stake in shares of American Tower by 3.5% in the fourth quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust’s stock valued at $293,000 after purchasing an additional 57 shares in the last quarter. Conscious Wealth Investments LLC raised its stake in shares of American Tower by 0.5% in the third quarter. Conscious Wealth Investments LLC now owns 11,852 shares of the real estate investment trust’s stock valued at $2,121,000 after purchasing an additional 60 shares in the last quarter. Finally, Argent Advisors Inc. raised its stake in shares of American Tower by 0.9% in the fourth quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust’s stock valued at $1,163,000 after purchasing an additional 61 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.
American Tower Stock Performance
NYSE AMT opened at $187.20 on Friday. The firm has a market cap of $87.22 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 0.79 and a beta of 0.90. The company has a 50 day moving average of $181.01 and a 200-day moving average of $179.92. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 1-year low of $165.08 and a 1-year high of $234.33.
American Tower Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 3.8%. American Tower’s dividend payout ratio (DPR) is presently 115.67%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on AMT. UBS Group cut their target price on American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Morgan Stanley dropped their target price on American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Truist Financial increased their target price on American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Scotiabank increased their target price on American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $195.00 target price on shares of American Tower in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $216.20.
Read Our Latest Stock Analysis on AMT
Insider Buying and Selling at American Tower
In other news, EVP Ruth T. Dowling sold 416 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.
About American Tower
American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.
Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.
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