SeaCrest Wealth Management LLC Has $730,000 Holdings in American Tower Co. (NYSE:AMT)

SeaCrest Wealth Management LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 33.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,982 shares of the real estate investment trust’s stock after selling 2,018 shares during the period. SeaCrest Wealth Management LLC’s holdings in American Tower were worth $730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AMT. State Street Corp raised its position in shares of American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after acquiring an additional 635,726 shares during the last quarter. Geode Capital Management LLC increased its holdings in American Tower by 1.9% in the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after purchasing an additional 204,426 shares during the last quarter. FMR LLC increased its holdings in American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in American Tower by 41.8% during the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after buying an additional 1,885,421 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in American Tower by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after buying an additional 243,061 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Stock Performance

Shares of American Tower stock opened at $180.31 on Thursday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $84.26 billion, a price-to-earnings ratio of 76.08, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The stock’s 50-day moving average is $193.58 and its 200-day moving average is $211.68. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 EPS. Equities analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced 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. This represents a $6.48 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

Wall Street Analyst Weigh In

AMT has been the topic of a number of analyst reports. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, Mizuho decreased their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average price target of $230.67.

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.