Brown Advisory Inc. Sells 34,723 Shares of American Tower Corporation (NYSE:AMT)

Brown Advisory Inc. lowered its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 16.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 171,418 shares of the real estate investment trust's stock after selling 34,723 shares during the period. Brown Advisory Inc.'s holdings in American Tower were worth $37,300,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMT. North Capital Inc. purchased a new position in shares of American Tower during the 1st quarter valued at $25,000. Minot DeBlois Advisors LLC bought a new stake in American Tower in the 4th quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower during the first quarter valued at about $31,000. Graney & King LLC bought a new position in American Tower during the fourth quarter worth about $32,000. Finally, Lowe Wealth Advisors LLC boosted its position in American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 109 shares during the period. Institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMT. Scotiabank upped their price target on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. Raymond James Financial boosted their target price on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Morgan Stanley assumed coverage on American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target for the company. Royal Bank Of Canada boosted their price objective on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Bank of America assumed coverage on American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, American Tower presently has a consensus rating of "Buy" and a consensus target price of $240.88.

American Tower Price Performance

AMT stock traded down $1.96 during midday trading on Friday, reaching $219.05. The company had a trading volume of 1,358,450 shares, compared to its average volume of 2,503,799. The firm has a 50-day moving average price of $216.39 and a 200-day moving average price of $206.03. The company has a market capitalization of $102.55 billion, a P/E ratio of 56.31, a P/E/G ratio of 1.64 and a beta of 0.82. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $243.56. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.79 earnings per share. On average, research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.10%. American Tower's dividend payout ratio (DPR) is presently 174.81%.

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.