Global Retirement Partners LLC Sells 154 Shares of American Tower Co. (NYSE:AMT)

Global Retirement Partners LLC cut its position in American Tower Co. (NYSE:AMT) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. CENTRAL TRUST Co raised its stake in American Tower by 7.6% in the 3rd quarter. CENTRAL TRUST Co now owns 9,935 shares of the real estate investment trust’s stock valued at $2,310,000 after acquiring an additional 701 shares during the period. Grimes & Company Inc. purchased a new position in shares of American Tower in the third quarter worth about $260,000. Assenagon Asset Management S.A. raised its position in shares of American Tower by 15.3% in the third quarter. Assenagon Asset Management S.A. now owns 16,857 shares of the real estate investment trust’s stock valued at $3,920,000 after purchasing an additional 2,233 shares during the period. DT Investment Partners LLC lifted its stake in shares of American Tower by 5.4% during the 3rd quarter. DT Investment Partners LLC now owns 1,794 shares of the real estate investment trust’s stock valued at $417,000 after buying an additional 92 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. bought a new position in American Tower in the 3rd quarter worth approximately $230,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The stock was 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 directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on AMT. BMO Capital Markets lowered their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Citigroup cut their target price on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Scotiabank lowered 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 report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.79.

American Tower Stock Performance

Shares of NYSE AMT opened at $191.32 on Friday. The stock’s 50-day moving average is $185.67 and its 200 day moving average is $207.64. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a market cap of $89.40 billion, a price-to-earnings ratio of 80.73, a P/E/G ratio of 1.27 and a beta of 0.84.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.39%. American Tower’s payout ratio 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.