Brady Family Wealth LLC Sells 441 Shares of American Tower Co. (NYSE:AMT)

Brady Family Wealth LLC trimmed its position in shares of American Tower Co. (NYSE:AMT) by 22.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,514 shares of the real estate investment trust’s stock after selling 441 shares during the quarter. Brady Family Wealth LLC’s holdings in American Tower were worth $278,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. State Street Corp grew its stake in shares of American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after buying an additional 635,726 shares during the last quarter. Geode Capital Management LLC boosted its holdings in American Tower by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after acquiring an additional 204,426 shares during the period. FMR LLC grew its position in American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after acquiring an additional 2,152,646 shares during the last quarter. Ameriprise Financial Inc. increased its stake in American Tower by 41.8% in the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of American Tower by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after purchasing an additional 243,061 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research analyst reports. Scotiabank dropped their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Barclays decreased their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday. The Goldman Sachs Group dropped their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Mizuho decreased their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price of $230.67.

American Tower Trading Up 0.8 %

NYSE AMT opened at $180.31 on Thursday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a 50 day moving average price of $193.58 and a 200 day moving average price of $211.68. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $84.26 billion, a PE ratio of 76.08, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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 business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the company posted $2.58 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, sell-side analysts forecast that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.59%. American Tower’s payout ratio is 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.