SeaCrest Wealth Management LLC Cuts Holdings in American Tower Co. (NYSE:AMT)

SeaCrest Wealth Management LLC cut its stake in American Tower Co. (NYSE:AMT - Free Report) by 33.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,982 shares of the real estate investment trust's stock after selling 2,018 shares during the quarter. SeaCrest Wealth Management LLC's holdings in American Tower were worth $730,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Fortitude Family Office LLC lifted its stake in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of American Tower during the 2nd quarter worth $27,000. Northwest Investment Counselors LLC acquired a new stake in American Tower in the third quarter valued at about $30,000. Hara Capital LLC bought a new position in American Tower in the third quarter valued at about $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in American Tower during the third quarter worth about $34,000. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMT has been the topic of several research reports. The Goldman Sachs Group decreased their price target on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Scotiabank decreased their target price on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, October 30th. Mizuho dropped their price target 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. StockNews.com lowered American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered shares of American Tower from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $230.67.

American Tower Stock Up 5.3 %

American Tower stock traded up $9.64 during mid-day trading on Thursday, reaching $189.96. The stock had a trading volume of 2,003,345 shares, compared to its average volume of 2,345,233. The firm has a market capitalization of $88.77 billion, a PE ratio of 80.20, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The stock's 50-day simple moving average is $193.58 and its 200-day simple moving average is $211.68. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

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 EPS for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for 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 business's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.58 EPS. On average, sell-side analysts forecast that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Friday, December 27th. American Tower's dividend payout ratio (DPR) is presently 273.42%.

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.