Brady Family Wealth LLC Sells 441 Shares of American Tower Co. (NYSE:AMT)

Brady Family Wealth LLC lessened its holdings in American Tower Co. (NYSE:AMT) by 22.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,514 shares of the real estate investment trust’s stock after selling 441 shares during the period. Brady Family Wealth LLC’s holdings in American Tower were worth $278,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC raised its position in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares during the period. Fairscale Capital LLC purchased a new stake in shares of American Tower in the 2nd quarter worth $27,000. Northwest Investment Counselors LLC bought a new position in American Tower in the 3rd quarter worth $30,000. Hara Capital LLC purchased a new position in American Tower during the third quarter valued at $31,000. Finally, Legacy Investment Solutions LLC bought a new stake in American Tower during the third quarter valued at about $34,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on AMT shares. Mizuho decreased their price objective 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 downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $245.00 to $230.00 in a report on Thursday, October 10th. BMO Capital Markets reduced their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Scotiabank lowered their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $230.67.

American Tower Stock Up 0.8 %

AMT opened at $180.31 on Thursday. 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 firm has a 50-day simple moving average of $193.58 and a two-hundred day simple moving average of $211.68. The company has a market capitalization of $84.26 billion, a PE ratio of 76.08, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84.

American Tower (NYSE:AMT) last released 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). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the business earned $2.58 EPS. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Analysts forecast that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is 273.42%.

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.