SRS Capital Advisors Inc. Raises Stake in American Tower Co. (NYSE:AMT)

SRS Capital Advisors Inc. raised its position in shares of American Tower Co. (NYSE:AMT) by 383.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,751 shares of the real estate investment trust’s stock after purchasing 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.

Several other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of 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 worth $2,474,934,000 after buying an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC lifted its holdings in shares of American Tower by 2,723.4% in the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after buying an additional 1,160,890 shares in the last quarter. State Street Corp lifted its holdings in shares of American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after buying an additional 635,726 shares in the last quarter. KBC Group NV lifted its holdings in shares of American Tower by 270.4% in the third quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust’s stock worth $108,553,000 after buying an additional 340,742 shares in the last quarter. Finally, Brookfield Corp ON lifted its holdings in shares of American Tower by 88.3% in the third quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust’s stock worth $165,286,000 after buying an additional 333,209 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated 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 directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

AMT has been the topic of several research analyst reports. BMO Capital Markets boosted their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, Scotiabank reduced their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

American Tower Trading Up 2.0 %

NYSE AMT opened at $209.63 on Tuesday. The company’s 50-day moving average price is $187.60 and its 200-day moving average price is $206.52. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $97.96 billion, a PE ratio of 88.45, a PEG ratio of 1.29 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

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

American Tower Dividend Announcement

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

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.