Brown Miller Wealth Management LLC Trims Holdings in American Tower Co. (NYSE:AMT)

Brown Miller Wealth Management LLC cut its stake in American Tower Co. (NYSE:AMT) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,847 shares of the real estate investment trust’s stock after selling 305 shares during the quarter. Brown Miller Wealth Management LLC’s holdings in American Tower were worth $2,173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Roxbury Financial LLC purchased a new position in shares of American Tower in the 4th quarter worth about $32,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the 3rd quarter valued at about $34,000. Activest Wealth Management raised its position in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares during the last quarter. Bank of Jackson Hole Trust bought a new position in shares of American Tower in the 4th quarter worth approximately $46,000. Finally, Versant Capital Management Inc raised its position in shares of American Tower by 113.9% in the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 139 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research firms recently weighed in on AMT. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Citigroup upped their price target on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company cut their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group cut their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $226.29.

American Tower Price Performance

NYSE:AMT opened at $207.29 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. 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 stock has a market capitalization of $96.90 billion, a PE ratio of 87.46, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The stock’s 50-day moving average price is $191.76 and its 200-day moving average price is $206.06.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the company posted $2.29 EPS. The business’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.28%. American Tower’s payout ratio is 141.37%.

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.