Brown Advisory Inc. Grows Stock Position in American Tower Co. (NYSE:AMT)

Brown Advisory Inc. raised its stake in American Tower Co. (NYSE:AMTFree Report) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,707,574 shares of the real estate investment trust’s stock after purchasing an additional 2,523 shares during the period. American Tower comprises 1.1% of Brown Advisory Inc.’s investment portfolio, making the stock its 20th biggest position. Brown Advisory Inc. owned approximately 0.80% of American Tower worth $800,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in AMT. McClarren Financial Advisors Inc. purchased a new stake in shares of American Tower during the 3rd quarter worth $27,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower during the 4th quarter worth about $29,000. Private Wealth Management Group LLC purchased a new position in shares of American Tower in the 4th quarter valued at about $31,000. Brown Shipley& Co Ltd acquired a new stake in shares of American Tower during the 3rd quarter worth about $35,000. Finally, Valley National Advisers Inc. boosted its holdings in American Tower by 200.0% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of a number of research analyst reports. BMO Capital Markets cut their price objective on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Barclays boosted their target price on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Scotiabank cut their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, May 1st. Mizuho assumed coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. Finally, Morgan Stanley raised their price objective on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $221.91.

View Our Latest Stock Analysis on American Tower

Insider Activity at American Tower

In other American Tower news, Director Robert D. Hormats sold 700 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of American Tower 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 sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert D. Hormats sold 700 shares of the stock in a transaction dated 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 $1,345,422. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,264 shares of company stock valued at $3,458,757. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

NYSE:AMT traded down $0.43 during mid-day trading on Friday, reaching $194.51. The stock had a trading volume of 2,157,303 shares, compared to its average volume of 2,638,604. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The business has a 50 day simple moving average of $186.50 and a 200 day simple moving average of $195.98. The firm has a market capitalization of $90.83 billion, a price-to-earnings ratio of 44.01, a PEG ratio of 1.53 and a beta of 0.71. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85.

American Tower (NYSE:AMTGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $2.54 EPS. On average, analysts expect that American Tower Co. will post 9.96 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a $1.62 dividend. The ex-dividend date was Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.33%. American Tower’s dividend payout ratio is presently 146.61%.

American Tower Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (NYSE:AMTFree Report).

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.