Global Retirement Partners LLC Trims Stake in American Tower Co. (NYSE:AMT)

Global Retirement Partners LLC cut its stake in American Tower Co. (NYSE:AMT) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,856 shares of the real estate investment trust’s stock after selling 154 shares during the quarter. Global Retirement Partners LLC’s holdings in American Tower were worth $1,441,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bank of Jackson Hole Trust bought a new position in shares of American Tower in the 4th quarter worth approximately $46,000. Mcdonald Partners LLC grew its stake in American Tower by 3.7% in the fourth quarter. Mcdonald Partners LLC now owns 7,055 shares of the real estate investment trust’s stock worth $1,294,000 after purchasing an additional 250 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in American Tower by 1.1% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,975 shares of the real estate investment trust’s stock worth $2,563,000 after purchasing an additional 146 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in American Tower during the fourth quarter valued at $233,000. Finally, Kestra Investment Management LLC bought a new stake in shares of American Tower during the 4th quarter valued at $48,000. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. 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 report on Thursday, January 23rd. Barclays cut their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Citigroup reduced their price objective on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Finally, Scotiabank lowered their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $225.79.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of NYSE AMT opened at $191.32 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm’s 50-day moving average price is $185.67 and its 200-day moving average price is $207.64. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a market cap of $89.40 billion, a PE ratio of 80.73, a PEG ratio of 1.27 and a beta of 0.84.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.