Brown Miller Wealth Management LLC Has $5.08 Million Position in American Tower Co. (NYSE:AMT)

Brown Miller Wealth Management LLC grew its position in American Tower Co. (NYSE:AMT) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,548 shares of the real estate investment trust’s stock after buying an additional 856 shares during the quarter. American Tower makes up approximately 2.5% of Brown Miller Wealth Management LLC’s portfolio, making the stock its 5th largest position. Brown Miller Wealth Management LLC’s holdings in American Tower were worth $5,084,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC increased its position in American Tower by 101,474.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,474,342 shares of the real estate investment trust’s stock worth $2,219,094,000 after acquiring an additional 10,464,030 shares during the period. Norges Bank bought a new position in shares of American Tower in the fourth quarter valued at about $1,008,567,000. Cohen & Steers Inc. raised its holdings in shares of American Tower by 44.2% in the second quarter. Cohen & Steers Inc. now owns 9,842,980 shares of the real estate investment trust’s stock valued at $1,908,844,000 after buying an additional 3,016,160 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of American Tower by 2,329.8% in the third quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock valued at $218,682,000 after buying an additional 1,275,052 shares during the last quarter. Finally, Morgan Stanley lifted its position in American Tower by 15.4% during the 4th quarter. Morgan Stanley now owns 7,231,486 shares of the real estate investment trust’s stock valued at $1,532,063,000 after purchasing an additional 962,800 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BMO Capital Markets dropped their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. HSBC started coverage on shares of American Tower in a research note on Thursday, December 14th. They issued a “buy” rating and a $245.00 price target on the stock. Finally, Barclays boosted their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.55.

Insider Activity

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

American Tower Trading Up 0.1 %

NYSE AMT traded up $0.21 on Thursday, hitting $197.59. The company’s stock had a trading volume of 2,168,358 shares, compared to its average volume of 2,337,216. The company’s 50-day moving average is $196.21 and its 200 day moving average is $192.09. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The firm has a market cap of $92.15 billion, a PE ratio of 62.14, a PEG ratio of 1.34 and a beta of 0.68.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the company earned $2.34 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.28%. American Tower’s dividend payout ratio is currently 213.84%.

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.