GPS Wealth Strategies Group LLC Sells 79 Shares of American Tower Co. (NYSE:AMT)

GPS Wealth Strategies Group LLC cut its stake in shares of American Tower Co. (NYSE:AMT) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,641 shares of the real estate investment trust’s stock after selling 79 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in American Tower were worth $484,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Fortitude Family Office LLC increased its stake 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 in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of American Tower during the third quarter valued at approximately $30,000. Hara Capital LLC purchased a new position in American Tower in the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new position in American Tower in the 3rd quarter valued at approximately $34,000. Finally, Activest Wealth Management boosted its stake in American Tower by 431.0% during 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 during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several recent analyst reports. Scotiabank decreased their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. The Goldman Sachs Group decreased their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Mizuho reduced their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $226.23.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

American Tower Price Performance

Shares of American Tower stock opened at $184.91 on Monday. The stock’s fifty day moving average is $190.58 and its 200 day moving average is $210.44. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $86.41 billion, a P/E ratio of 78.02, a P/E/G ratio of 1.24 and a beta of 0.84.

American Tower Announces Dividend

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

About American Tower

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.