Daymark Wealth Partners LLC Lowers Stock Position in American Tower Co. (NYSE:AMT)

Daymark Wealth Partners LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,675 shares of the real estate investment trust’s stock after selling 287 shares during the period. Daymark Wealth Partners LLC’s holdings in American Tower were worth $674,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC raised its position in American Tower by 269.0% in 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 in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of American Tower during the 3rd quarter worth $30,000. Hara Capital LLC acquired a new stake in shares of American Tower in the third quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the third quarter valued at about $34,000. Finally, Activest Wealth Management grew its position in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The shares were 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 owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMT. Wells Fargo & Company reduced their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday. Scotiabank decreased their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday. BMO Capital Markets dropped their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $226.42.

American Tower Stock Up 0.6 %

Shares of NYSE AMT opened at $186.31 on Friday. The firm’s 50 day moving average price is $192.48 and its 200 day moving average price is $211.29. 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 firm has a market cap of $87.06 billion, a P/E ratio of 78.61, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the firm earned $2.58 EPS. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.48%. American Tower’s dividend payout ratio is presently 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.