John G Ullman & Associates Inc. Has $6.65 Million Stake in American Tower Co. (NYSE:AMT)

John G Ullman & Associates Inc. increased its position in shares of American Tower Co. (NYSE:AMT) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,821 shares of the real estate investment trust’s stock after buying an additional 4,471 shares during the period. American Tower accounts for approximately 1.1% of John G Ullman & Associates Inc.’s investment portfolio, making the stock its 29th biggest position. John G Ullman & Associates Inc.’s holdings in American Tower were worth $6,654,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC increased its holdings in shares of American Tower by 29.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 3,285 shares of the real estate investment trust’s stock valued at $709,000 after purchasing an additional 757 shares during the last quarter. Western Wealth Management LLC increased its holdings in shares of American Tower by 27.6% in the fourth quarter. Western Wealth Management LLC now owns 8,316 shares of the real estate investment trust’s stock valued at $1,795,000 after purchasing an additional 1,801 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp acquired a new position in shares of American Tower in the fourth quarter valued at $248,000. Tilt Investment Management Holdings PBC acquired a new position in shares of American Tower in the fourth quarter valued at $407,000. Finally, Cambridge Trust Co. increased its holdings in shares of American Tower by 28.8% in 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 purchasing an additional 19,450 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

NYSE AMT traded up $0.07 during trading on Friday, hitting $171.07. 1,962,183 shares of the company’s stock were exchanged, compared to its average volume of 2,412,055. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. The company has a market cap of $79.78 billion, a PE ratio of 53.88, a P/E/G ratio of 1.36 and a beta of 0.67. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The stock’s 50 day moving average price is $192.37 and its two-hundred day moving average price is $193.43.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.34 EPS. Research analysts expect that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The firm 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 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s payout ratio is 203.77%.

Insiders Place Their Bets

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Mizuho began coverage on shares of American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. Morgan Stanley boosted their target price on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday. Barclays boosted their target price on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $217.36.

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.