SRS Capital Advisors Inc. Grows Stock Holdings in American Tower Co. (NYSE:AMT)

SRS Capital Advisors Inc. grew its position in American Tower Co. (NYSE:AMT) by 383.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,751 shares of the real estate investment trust’s stock after acquiring an additional 2,182 shares during the quarter. SRS Capital Advisors Inc.’s holdings in American Tower were worth $504,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AMT. Hara Capital LLC bought a new stake in shares of American Tower in the 3rd quarter valued at about $31,000. Roxbury Financial LLC bought a new stake in shares of American Tower in the 4th quarter valued at about $32,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the 3rd quarter valued at about $34,000. Activest Wealth Management boosted its holdings in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 125 shares in the last quarter. Finally, Bank of Jackson Hole Trust bought a new stake in shares of American Tower in the 4th quarter valued at about $46,000. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

American Tower Price Performance

NYSE:AMT opened at $209.63 on Tuesday. 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 $97.96 billion, a price-to-earnings ratio of 88.45, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company has a 50 day moving average price of $187.60 and a 200-day moving average price of $206.52. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.29 EPS. Equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s payout ratio is presently 134.72%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group lowered 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. Citigroup lowered their target price on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Wells Fargo & Company lowered their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price for the company. Finally, Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $225.21.

About American Tower

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.