Twin Capital Management Inc. Raises Stake in American Tower Co. (NYSE:AMT)

Twin Capital Management Inc. increased its holdings in shares of American Tower Co. (NYSE:AMT) by 17.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,119 shares of the real estate investment trust’s stock after acquiring an additional 890 shares during the period. Twin Capital Management Inc.’s holdings in American Tower were worth $1,122,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Glenview Trust co raised its holdings in shares of American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after buying an additional 54 shares during the period. Rehmann Capital Advisory Group lifted its position in shares of American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 58 shares during the last quarter. Precedent Wealth Partners LLC boosted its stake in shares of American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 58 shares during the period. Resonant Capital Advisors LLC grew its holdings in shares of American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 61 shares during the last quarter. Finally, Calamos Wealth Management LLC increased its stake in American Tower by 2.9% in the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after buying an additional 61 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 3.2 %

NYSE AMT opened at $213.15 on Tuesday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a fifty day simple moving average of $202.64 and a two-hundred day simple moving average of $203.59. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $99.64 billion, a P/E ratio of 89.94, a P/E/G ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period last year, the business posted $2.29 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.19%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio is presently 141.37%.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMT. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Morgan Stanley started coverage on American Tower in a report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 target price for the company. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Barclays upped their price objective on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $232.07.

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.