Brown Miller Wealth Management LLC Raises Stock Position in American Tower Co. (NYSE:AMT)

Brown Miller Wealth Management LLC raised its stake in American Tower Co. (NYSE:AMT) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,548 shares of the real estate investment trust’s stock after buying an additional 856 shares during the period. American Tower comprises 2.5% of Brown Miller Wealth Management LLC’s holdings, making the stock its 5th biggest holding. Brown Miller Wealth Management LLC’s holdings in American Tower were worth $5,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Pinnacle Holdings LLC purchased a new stake in shares of American Tower in the 1st quarter worth approximately $29,000. Eagle Bay Advisors LLC purchased a new stake in American Tower during the second quarter valued at approximately $30,000. VitalStone Financial LLC purchased a new stake in American Tower during the first quarter valued at approximately $38,000. Thompson Investment Management Inc. purchased a new stake in American Tower during the fourth quarter valued at approximately $29,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in American Tower during the third quarter valued at approximately $27,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of recent analyst reports. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Barclays increased their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. HSBC initiated coverage on shares of American Tower in a research note on Thursday, December 14th. They issued a “buy” rating and a $245.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Finally, BMO Capital Markets cut their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $217.55.

Insider Transactions at American Tower

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

American Tower Stock Up 0.1 %

American Tower stock traded up $0.21 during trading on Thursday, reaching $197.59. The stock had a trading volume of 2,168,358 shares, compared to its average volume of 2,337,216. The stock has a market cap of $92.15 billion, a PE ratio of 62.14, a P/E/G ratio of 1.34 and a beta of 0.68. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The business has a 50 day moving average price of $196.21 and a 200 day moving average price of $192.09.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 earnings per share. On average, analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.28%. American Tower’s dividend payout ratio (DPR) is 213.84%.

About American Tower

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.