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

Brown Advisory Inc. lowered its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent filing with the SEC. 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 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Alpha Cubed Investments LLC grew its stake in shares of American Tower by 64.9% during the first quarter. Alpha Cubed Investments LLC now owns 199,629 shares of the real estate investment trust's stock valued at $43,439,000 after buying an additional 78,536 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in American Tower by 10.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 63,031 shares of the real estate investment trust's stock worth $13,716,000 after acquiring an additional 6,025 shares during the last quarter. Callan Capital LLC purchased a new position in American Tower in the 1st quarter worth approximately $232,000. Envestnet Asset Management Inc. lifted its position in American Tower by 3.2% in the first quarter. Envestnet Asset Management Inc. now owns 759,877 shares of the real estate investment trust's stock valued at $165,349,000 after purchasing an additional 23,407 shares during the last quarter. Finally, Simmons Bank boosted its stake in shares of American Tower by 0.4% during the first quarter. Simmons Bank now owns 14,700 shares of the real estate investment trust's stock valued at $3,199,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

Shares of AMT stock opened at $221.62 on Thursday. The company's fifty day moving average price is $216.55 and its 200-day moving average price is $205.54. The stock has a market cap of $103.75 billion, a PE ratio of 56.97, a price-to-earnings-growth ratio of 1.64 and a beta of 0.82. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56.

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

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.07%. American Tower's payout ratio is currently 174.81%.

Wall Street Analyst Weigh In

Several research analysts recently commented on AMT shares. JMP Securities lifted their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research note on Wednesday, April 30th. UBS Group boosted their price objective on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday. Morgan Stanley initiated coverage on shares of American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price for the company. Wells Fargo & Company boosted their price target on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Finally, Scotiabank upped their price target on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $240.88.

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.

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