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

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

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares during the period. Adelante Capital Management LLC increased its stake in American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after purchasing an additional 1,160,890 shares in the last quarter. State Street Corp raised its holdings in American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after buying an additional 635,726 shares during the period. KBC Group NV lifted its stake in American Tower by 270.4% in the third quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust’s stock valued at $108,553,000 after buying an additional 340,742 shares in the last quarter. Finally, Brookfield Corp ON boosted its holdings in shares of American Tower by 88.3% in the third quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust’s stock valued at $165,286,000 after buying an additional 333,209 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JMP Securities assumed coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company reduced their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Citigroup dropped their target price on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Finally, Barclays reduced their price target 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. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $227.00.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Stock Up 0.2 %

American Tower stock opened at $191.88 on Tuesday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company’s 50-day moving average is $185.63 and its 200-day moving average is $207.14. The firm has a market capitalization of $89.66 billion, a PE ratio of 80.96, a P/E/G ratio of 1.29 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower Dividend Announcement

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

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.