SeaCrest Wealth Management LLC Lowers Position in American Tower Co. (NYSE:AMT)

SeaCrest Wealth Management LLC trimmed its position in American Tower Co. (NYSE:AMT) by 19.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,105 shares of the real estate investment trust’s stock after selling 1,436 shares during the period. SeaCrest Wealth Management LLC’s holdings in American Tower were worth $1,206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cross Staff Investments Inc lifted its position in American Tower by 5.1% during the 4th quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after acquiring an additional 244 shares during the period. Gateway Investment Advisers LLC boosted its stake in American Tower by 57.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock worth $7,718,000 after purchasing an additional 13,074 shares in the last quarter. Anchor Capital Advisors LLC lifted its stake in shares of American Tower by 38.1% in the fourth quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock worth $16,542,000 after buying an additional 21,139 shares in the last quarter. Meyer Handelman Co. purchased a new stake in shares of American Tower during the first quarter valued at approximately $801,000. Finally, TD Asset Management Inc increased its position in shares of American Tower by 23.2% during the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock valued at $59,459,000 after acquiring an additional 51,882 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $192.27 on Wednesday. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $89.79 billion, a price-to-earnings ratio of 43.50, a PEG ratio of 1.39 and a beta of 0.81. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The stock’s 50 day simple moving average is $188.65 and its two-hundred day simple moving average is $194.83.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the previous year, the company earned $2.54 EPS. American Tower’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.37%. American Tower’s dividend payout ratio is presently 146.61%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AMT. Mizuho began coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of American Tower in a report on Monday. They set a “buy” rating and a $230.00 price target on the stock. Barclays decreased their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. BMO Capital Markets lowered their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Finally, Scotiabank cut their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.67.

Insider Activity at American Tower

In other American Tower news, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the sale, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the sale, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

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.