Brown Financial Advisors Has $420,000 Stake in American Tower Co. (NYSE:AMT)

Brown Financial Advisors increased its position in shares of American Tower Co. (NYSE:AMT) by 11.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,290 shares of the real estate investment trust’s stock after purchasing an additional 234 shares during the quarter. Brown Financial Advisors’ holdings in American Tower were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC increased its position in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the period. Hara Capital LLC acquired a new position in shares of American Tower in the third quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new position in American Tower during the third quarter worth about $34,000. Activest Wealth Management raised its stake in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares in the last quarter. Finally, Roxbury Financial LLC bought a new stake in American Tower in the 4th quarter valued at about $32,000. 92.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was 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 directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $191.88 on Tuesday. The company’s 50 day moving average price is $185.63 and its two-hundred day moving average price is $207.14. The firm has a market capitalization of $89.66 billion, a P/E ratio of 80.96, a P/E/G ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.38%. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent research reports. BMO Capital Markets lowered their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Barclays cut their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Mizuho decreased their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Scotiabank cut their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $227.00.

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.