5 Stocks to Buy According to Mark McMeans’ Brasada Capital Management

In this article, we discuss 5 stocks to buy according to Mark McMeans’ Brasada Capital Management. If you want to read our detailed analysis of McMeans’ investment philosophy and performance, go directly to 10 Stocks to Buy According to Mark McMeans’ Brasada Capital Management.

5. American Tower Corporation (NYSE:AMT)

Brasada Capital Management’s Stake Value: $13,817,000
Percentage of Brasada Capital Management’s 13F Portfolio: 3.1%
Number of Hedge Fund Holders: 52

American Tower Corporation (NYSE:AMT) is a real estate investment trust with its main office in Boston, Massachusetts. It is a global owner and operator of wireless and broadcast communications infrastructure. It is expected that American Tower Corporation (NYSE:AMT), which has over 43,000 towers in key locations across the United States, would profit significantly from 5G, the Internet of Things (IoT), and next-gen TV technologies.

On July 29, Deutsche Bank analyst Matthew Niknam reiterated a ‘Hold’ rating on American Tower Corporation (NYSE:AMT) and boosted his price objective from $270 to $285. During Q2 2022, Brasada Capital Management sold 1,826 American Tower Corporation (NYSE:AMT) shares, taking its total stake to nearly $13.82 million. The company is the fund’s fifth-largest holding and accounted for 3.1% of Brasada Capital Management’s portfolio.

Among the hedge funds tracked by Insider Monkey, 52 funds were bullish on American Tower Corporation (NYSE:AMT) at the end of Q2 2022. Charles Akre’s Akre Capital Management is the leading stakeholder of the company, with approximately 6.97 million shares worth $1.78 billion.

Here is what ClearBridge Investments had to say about American Tower Corporation (NYSE:AMT) in its Q2 2022 investor letter:

“The top contributor was our sole real estate holding American Tower (NYSE:AMT), the leading independent wireless tower operator with roughly 221,000 properties globally, including about 43,000 in the U.S., 76,000 in India and 23,000 in Brazil. The company’s business model is to lease space on its towers to predominantly wireless carriers on a long-term basis, generally ranging 5–10 years in duration, with built-in price escalators. This approach results in a stable and predictable cash flow business with high incremental margins — attractive qualities especially in volatile markets like the second quarters.”