SRS Capital Advisors Inc. Sells 214 Shares of American Tower Co. (NYSE:AMT)

SRS Capital Advisors Inc. trimmed its position in American Tower Co. (NYSE:AMT) by 45.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 262 shares of the real estate investment trust’s stock after selling 214 shares during the period. SRS Capital Advisors Inc.’s holdings in American Tower were worth $57,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC lifted its position in American Tower by 1,674.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 137,330 shares of the real estate investment trust’s stock valued at $29,647,000 after acquiring an additional 129,589 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of American Tower by 40.4% during the fourth quarter. Natixis Advisors L.P. now owns 119,057 shares of the real estate investment trust’s stock valued at $25,701,000 after purchasing an additional 34,238 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of American Tower by 1.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 137,290 shares of the real estate investment trust’s stock worth $29,638,000 after purchasing an additional 1,476 shares in the last quarter. Summit Asset Management LLC bought a new stake in shares of American Tower in the 4th quarter worth approximately $224,000. Finally, West Family Investments Inc. purchased a new stake in shares of American Tower in the 4th quarter worth approximately $242,000. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of several analyst reports. Mizuho initiated coverage on American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. Morgan Stanley upped their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Barclays upped their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $221.91.

American Tower Trading Up 1.2 %

Shares of AMT stock opened at $181.74 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.69 and a debt-to-equity ratio of 3.39. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The stock has a market capitalization of $84.75 billion, a P/E ratio of 41.12, a P/E/G ratio of 1.43 and a beta of 0.71. The firm’s 50 day moving average is $189.15 and its 200 day moving average is $194.39.

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 for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. American Tower’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.54 earnings per share. Research analysts expect that American Tower Co. will post 9.96 earnings per share for the current year.

American Tower Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a dividend of $1.62 per share. The ex-dividend date was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.57%. American Tower’s dividend payout ratio is currently 146.61%.

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.