Brown Financial Advisors Takes $729,000 Position in American Tower Co. (NYSE:AMT)

Brown Financial Advisors acquired a new stake in American Tower Co. (NYSE:AMT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,752 shares of the real estate investment trust’s stock, valued at approximately $729,000.

Several other large investors also recently modified their holdings of the stock. NBT Bank N A NY raised its position in shares of American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after purchasing an additional 54 shares during the period. O Brien Greene & Co. Inc raised its position in shares of American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 55 shares during the period. CFO4Life Group LLC grew its stake in shares of American Tower by 5.4% in the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 57 shares in the last quarter. Tyche Wealth Partners LLC grew its stake in shares of American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 58 shares in the last quarter. Finally, Advisors Management Group Inc. ADV grew its stake in shares of American Tower by 4.6% in the first quarter. Advisors Management Group Inc. ADV now owns 1,347 shares of the real estate investment trust’s stock valued at $266,000 after acquiring an additional 59 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price target on the stock. BMO Capital Markets upped their price target on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. upped their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Scotiabank upped their price target on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $234.00.

Insider Activity

In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the transaction, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,723 shares of company stock worth $7,795,397. Corporate insiders own 0.18% of the company’s stock.

American Tower Trading Down 0.2 %

AMT opened at $232.01 on Wednesday. The company’s 50 day moving average is $227.84 and its 200-day moving average is $203.89. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $243.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The company has a market cap of $108.37 billion, a P/E ratio of 52.49, a PEG ratio of 1.05 and a beta of 0.83.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the business posted $2.46 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid a $1.62 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.79%. American Tower’s payout ratio is currently 146.61%.

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.