Brown Shipley& Co Ltd Buys 3,026 Shares of American Tower Co. (NYSE:AMT)

Brown Shipley& Co Ltd raised its stake in American Tower Co. (NYSE:AMT) by 19.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,640 shares of the real estate investment trust’s stock after purchasing an additional 3,026 shares during the period. American Tower accounts for approximately 1.6% of Brown Shipley& Co Ltd’s investment portfolio, making the stock its 21st largest holding. Brown Shipley& Co Ltd’s holdings in American Tower were worth $3,623,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Meyer Handelman Co. bought a new position in shares of American Tower during the 1st quarter worth approximately $801,000. Kingsview Wealth Management LLC increased its position in shares of American Tower by 13.8% during the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after purchasing an additional 4,660 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of American Tower by 27.7% during 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 during the last quarter. Cetera Advisors LLC boosted its position 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 worth $8,157,000 after purchasing an additional 9,275 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in American Tower by 5.3% during the 1st quarter. Nordea Investment Management AB now owns 871,635 shares of the real estate investment trust’s stock worth $172,061,000 after buying an additional 43,531 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AMT shares. Wells Fargo & Company raised their price target on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Scotiabank lifted their target price on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Mizuho lifted their price objective on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, TD Cowen boosted their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.00.

American Tower Stock Down 0.6 %

American Tower stock opened at $230.32 on Monday. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $243.56. The firm has a market cap of $107.55 billion, a price-to-earnings ratio of 52.11, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. The business’s 50-day moving average price is $226.93 and its 200 day moving average price is $203.42. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the business earned $2.46 EPS. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s payout ratio is currently 146.61%.

Insider Activity

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock worth $7,795,397 in the last ninety days. Company insiders own 0.18% of the company’s stock.

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.