Brown Shipley& Co Ltd Sells 409 Shares of American Tower Co. (NYSE:AMT)

Brown Shipley& Co Ltd decreased its position in shares of American Tower Co. (NYSE:AMT) by 2.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 18,231 shares of the real estate investment trust’s stock after selling 409 shares during the quarter. American Tower accounts for 2.1% of Brown Shipley& Co Ltd’s portfolio, making the stock its 18th largest holding. Brown Shipley& Co Ltd’s holdings in American Tower were worth $4,240,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Balentine LLC bought a new stake in shares of American Tower during the 3rd quarter worth approximately $586,000. Czech National Bank lifted its stake in American Tower by 6.9% during the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after purchasing an additional 6,163 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of American Tower by 27.7% in the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after purchasing an additional 4,430 shares in the last quarter. Cetera Advisors LLC increased its stake in shares of American Tower by 29.0% in the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after purchasing an additional 9,275 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its holdings in shares of American Tower by 46.8% during the 3rd quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock worth $5,980,000 after buying an additional 8,195 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on AMT. Mizuho lifted their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Scotiabank decreased their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective 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. Royal Bank of Canada boosted their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, BMO Capital Markets dropped their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Stock Up 0.6 %

Shares of AMT opened at $209.31 on Thursday. The company has a market capitalization of $97.81 billion, a PE ratio of 88.32, a PEG ratio of 1.38 and a beta of 0.84. The stock’s 50-day moving average price is $216.94 and its two-hundred day moving average price is $212.14. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the company earned $2.58 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. On average, analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.10%. American Tower’s dividend payout ratio is currently 273.42%.

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.