Brophy Wealth Management LLC Takes $633,000 Position in American Tower Co. (NYSE:AMT)

Brophy Wealth Management LLC purchased a new stake in shares of American Tower Co. (NYSE:AMT - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,720 shares of the real estate investment trust's stock, valued at approximately $633,000.

A number of other hedge funds have also modified their holdings of the company. Balentine LLC purchased a new position in American Tower during the third quarter valued at $586,000. Point72 Hong Kong Ltd purchased a new position in American Tower during the third quarter valued at approximately $1,156,000. Czech National Bank grew its position in shares of American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust's stock worth $22,128,000 after buying an additional 6,163 shares during the last quarter. Banque Cantonale Vaudoise grew its holdings in American Tower by 46.8% in the third quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust's stock worth $5,980,000 after purchasing an additional 8,195 shares during the last quarter. Finally, Savvy Advisors Inc. increased its holdings in shares of American Tower by 268.2% during the third quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust's stock valued at $1,038,000 after acquiring an additional 3,251 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 4.0 %

NYSE:AMT traded down $8.42 during mid-day trading on Tuesday, hitting $200.62. The stock had a trading volume of 1,123,715 shares, compared to its average volume of 2,318,837. The company has a market capitalization of $93.75 billion, a PE ratio of 88.19, a PEG ratio of 1.38 and a beta of 0.83. The stock has a 50-day simple moving average of $212.85 and a two-hundred day simple moving average of $213.27. American Tower Co. has a twelve month low of $170.46 and a twelve month 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.77 billion. During the same period last year, the firm earned $2.58 earnings per share. The firm's quarterly revenue was down 10.5% on a year-over-year basis. On average, equities research analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.23%. American Tower's dividend payout ratio (DPR) is presently 273.42%.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of research reports. StockNews.com downgraded American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Barclays lowered their price target on shares of American Tower from $255.00 to $251.00 and set an "overweight" rating on the stock in a report on Monday, November 18th. BMO Capital Markets reduced their price objective on American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company lowered shares of American Tower from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Finally, Scotiabank dropped their price target on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $235.54.

American Tower Company 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.