American Tower Co. (NYSE:AMT) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc trimmed its position in shares of American Tower Co. (NYSE:AMT) by 1.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,046 shares of the real estate investment trust’s stock after selling 93 shares during the period. Marks Group Wealth Management Inc’s holdings in American Tower were worth $1,476,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its position in shares of 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 acquiring an additional 78 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in American Tower during the 3rd quarter valued at approximately $30,000. Hara Capital LLC purchased a new stake in American Tower during the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC purchased a new stake in American Tower during the 3rd quarter worth approximately $34,000. Finally, Activest Wealth Management raised its position 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 purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMT shares. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Mizuho dropped their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets reduced their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Barclays lowered their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $226.23.

American Tower Stock Down 2.0 %

AMT stock opened at $189.54 on Thursday. The stock has a market cap of $88.57 billion, a PE ratio of 79.97, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The firm’s 50-day simple moving average is $187.80 and its 200 day simple moving average is $209.34. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.42%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

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.