Marks Group Wealth Management Inc Trims Position in American Tower Co. (NYSE:AMT)

Marks Group Wealth Management Inc lowered its stake in shares of American Tower Co. (NYSE:AMT) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,046 shares of the real estate investment trust’s stock after selling 93 shares during the quarter. Marks Group Wealth Management Inc’s holdings in American Tower were worth $1,476,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Community Financial Services Group LLC grew its position in American Tower by 9.4% in the 4th quarter. Community Financial Services Group LLC now owns 4,804 shares of the real estate investment trust’s stock valued at $881,000 after buying an additional 414 shares during the last quarter. Strengthening Families & Communities LLC boosted its holdings in shares of American Tower by 3.1% in the fourth quarter. Strengthening Families & Communities LLC now owns 10,846 shares of the real estate investment trust’s stock valued at $1,990,000 after acquiring an additional 323 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of American Tower during the fourth quarter worth about $1,704,000. Summit Trail Advisors LLC raised its holdings in American Tower by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 6,412 shares of the real estate investment trust’s stock worth $1,186,000 after purchasing an additional 87 shares in the last quarter. Finally, Principle Wealth Partners LLC lifted its position in American Tower by 4.0% in the fourth quarter. Principle Wealth Partners LLC now owns 4,162 shares of the real estate investment trust’s stock valued at $763,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of NYSE:AMT opened at $189.54 on Thursday. The business has a 50-day moving average of $187.80 and a two-hundred day moving average of $209.34. The firm has a market capitalization of $88.57 billion, a PE ratio of 79.97, a P/E/G ratio of 1.27 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. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower Dividend Announcement

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

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Barclays dropped their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Scotiabank cut their price objective 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. The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets cut their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, JMP Securities assumed coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.