Howland Capital Management LLC Lowers Stake in American Tower Corporation (NYSE:AMT)

Howland Capital Management LLC lessened its stake in American Tower Corporation (NYSE:AMT) by 3.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 196,801 shares of the real estate investment trust’s stock after selling 7,024 shares during the period. American Tower comprises approximately 1.9% of Howland Capital Management LLC’s portfolio, making the stock its 15th largest position. Howland Capital Management LLC’s holdings in American Tower were worth $42,824,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. North Capital Inc. purchased a new stake in shares of American Tower in the 1st quarter valued at $25,000. Minot DeBlois Advisors LLC purchased a new stake in American Tower during the fourth quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower during the first quarter worth about $31,000. Lowe Wealth Advisors LLC boosted its stake in shares of American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 109 shares during the period. Finally, City Holding Co. acquired a new position in shares of American Tower in the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMT shares. HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a report on Wednesday. Barclays increased their price objective on American Tower from $223.00 to $246.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets restated an “outperform” rating and set a $245.00 price target (down previously from $250.00) on shares of American Tower in a report on Wednesday. Finally, Bank of America initiated coverage on American Tower in a research note on Monday, May 19th. They issued a “buy” rating and a $255.00 price objective for the company. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $243.88.

American Tower Stock Down 0.2%

AMT stock opened at $208.39 on Friday. The stock has a market cap of $97.55 billion, a P/E ratio of 75.78, a PEG ratio of 1.15 and a beta of 0.82. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 3.36. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The company’s 50 day moving average is $218.73 and its two-hundred day moving average is $210.09.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the firm posted $2.79 EPS. The company’s revenue was down 9.4% on a year-over-year basis. Research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were given a $1.70 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.3%. American Tower’s dividend payout ratio is 247.27%.

About American Tower

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.