Brown Brothers Harriman & Co. Has $14.02 Million Stake in American Tower Co. (NYSE:AMT)

Brown Brothers Harriman & Co. reduced its position in shares of American Tower Co. (NYSE:AMT) by 21.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,269 shares of the real estate investment trust’s stock after selling 16,634 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in American Tower were worth $14,016,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NBT Bank N A NY raised its position in shares of American Tower by 3.3% during the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after acquiring an additional 54 shares during the last quarter. CX Institutional increased its position in American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 54 shares during the period. O Brien Greene & Co. Inc raised its holdings in American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 55 shares during the last quarter. Palumbo Wealth Management LLC lifted its position in shares of American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after purchasing an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC boosted its stake in shares of American Tower by 4.9% in the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.7 %

American Tower stock opened at $204.31 on Monday. The firm has a market capitalization of $95.47 billion, a price-to-earnings ratio of 86.21, a price-to-earnings-growth ratio of 1.36 and a beta of 0.84. The firm’s fifty day moving average price is $218.75 and its two-hundred day moving average price is $211.84. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.58 EPS. On average, equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.17%. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

Analyst Ratings Changes

Several research firms recently issued reports on AMT. Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Barclays decreased their target price on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. JPMorgan Chase & Co. boosted their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada raised their price objective on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.54.

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.