SeaBridge Investment Advisors LLC Sells 10,473 Shares of American Tower Co. (NYSE:AMT)

SeaBridge Investment Advisors LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 76.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,193 shares of the real estate investment trust’s stock after selling 10,473 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in American Tower were worth $586,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Fortitude Family Office LLC grew its holdings in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in American Tower in the 3rd quarter worth about $30,000. Hara Capital LLC bought a new stake in American Tower during the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC purchased a new stake in American Tower in the 3rd quarter valued at about $34,000. Finally, Activest Wealth Management grew its stake in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 125 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the 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 sale, the chief financial officer now owns 62,792 shares in the company, 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. Corporate insiders own 0.18% of the company’s stock.

American Tower Trading Down 0.5 %

Shares of NYSE:AMT opened at $184.91 on Friday. The firm has a market capitalization of $86.41 billion, a P/E ratio of 78.02, a P/E/G ratio of 1.23 and a beta of 0.84. 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 business’s 50-day moving average is $190.58 and its 200 day moving average is $210.44. 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 quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.58 EPS. On average, research analysts predict that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.50%. American Tower’s payout ratio is presently 273.42%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMT. The Goldman Sachs Group lowered their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Scotiabank dropped their price target on 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. Wells Fargo & Company decreased their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

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.