Tilt Investment Management Holdings PBC Buys Shares of 1,871 American Tower Co. (NYSE:AMT)

Tilt Investment Management Holdings PBC purchased a new position in American Tower Co. (NYSE:AMT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,871 shares of the real estate investment trust’s stock, valued at approximately $407,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Cambridge Trust Co. lifted its position in shares of American Tower by 28.8% during the fourth quarter. Cambridge Trust Co. now owns 86,915 shares of the real estate investment trust’s stock valued at $18,763,000 after buying an additional 19,450 shares during the last quarter. Delta Financial Advisors LLC raised its position in shares of American Tower by 3.7% in the 4th quarter. Delta Financial Advisors LLC now owns 1,981 shares of the real estate investment trust’s stock valued at $428,000 after purchasing an additional 70 shares during the last quarter. Federated Hermes Inc. boosted its stake in American Tower by 6.8% in the 4th quarter. Federated Hermes Inc. now owns 522,330 shares of the real estate investment trust’s stock worth $112,761,000 after purchasing an additional 33,477 shares in the last quarter. Tufton Capital Management grew its position in American Tower by 3.1% during the 4th quarter. Tufton Capital Management now owns 2,010 shares of the real estate investment trust’s stock worth $434,000 after purchasing an additional 60 shares during the last quarter. Finally, Roman Butler Fullerton & Co. acquired a new position in American Tower during the 4th quarter valued at approximately $224,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of NYSE:AMT traded down $0.87 during trading on Thursday, hitting $171.15. 1,398,057 shares of the stock traded hands, compared to its average volume of 2,408,066. The company has a fifty day moving average price of $192.83 and a two-hundred day moving average price of $193.58. 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 $79.82 billion, a price-to-earnings ratio of 54.09, a P/E/G ratio of 1.42 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29.

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

American Tower Cuts Dividend

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

Insider Activity

In related news, CFO Rodney M. Smith sold 11,510 shares of the company’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 transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a 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 dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

AMT has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. dropped their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Barclays raised their price objective on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, BMO Capital Markets reduced their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.36.

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.