Howland Capital Management LLC Buys 871 Shares of American Tower Co. (NYSE:AMT)

Howland Capital Management LLC raised its stake in American Tower Co. (NYSE:AMT) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 200,285 shares of the real estate investment trust’s stock after buying an additional 871 shares during the period. American Tower comprises about 1.9% of Howland Capital Management LLC’s portfolio, making the stock its 16th biggest position. Howland Capital Management LLC’s holdings in American Tower were worth $39,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in shares of American Tower in the 1st quarter valued at about $25,000. Gold Investment Management Ltd. bought a new stake in shares of American Tower during the 4th quarter valued at about $28,000. Thompson Investment Management Inc. bought a new stake in shares of American Tower during the 4th quarter valued at about $29,000. Private Wealth Management Group LLC bought a new stake in shares of American Tower during the 4th quarter valued at about $31,000. Finally, SOA Wealth Advisors LLC. bought a new stake in shares of American Tower during the 1st quarter valued at about $30,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of several research analyst reports. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. Morgan Stanley upped their target price on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Barclays cut their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. The Goldman Sachs Group initiated coverage on American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 price target on the stock. Finally, BMO Capital Markets cut their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $221.67.

Insider Activity

In other news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the transaction, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

American Tower Price Performance

American Tower stock traded up $10.46 during midday trading on Thursday, hitting $207.23. 2,256,029 shares of the company’s stock were exchanged, compared to its average volume of 2,372,148. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50-day moving average price of $191.67 and a two-hundred day moving average price of $194.11. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The company has a market cap of $96.77 billion, a P/E ratio of 46.88, a PEG ratio of 1.40 and a beta of 0.81.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period last year, the firm earned $2.54 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts forecast that American Tower Co. will post 10.03 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, June 14th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

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.