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

GPS Wealth Strategies Group LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 2.9% in the 4th quarter, Holdings Channel reports. The firm owned 2,641 shares of the real estate investment trust’s stock after selling 79 shares during the period. GPS Wealth Strategies Group LLC’s holdings in American Tower were worth $484,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC increased its holdings in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of American Tower in the 3rd quarter valued at about $30,000. Hara Capital LLC purchased a new position in American Tower in the third quarter worth about $31,000. Legacy Investment Solutions LLC bought a new stake in American Tower during the third quarter worth approximately $34,000. Finally, Activest Wealth Management raised 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 valued at $36,000 after purchasing an additional 125 shares during the period. 92.69% of the stock is owned by institutional investors.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $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 is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Down 0.5 %

Shares of NYSE AMT opened at $184.91 on Monday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a market capitalization of $86.41 billion, a price-to-earnings ratio of 78.02, a PEG ratio of 1.24 and a beta of 0.84. The stock has a 50 day moving average price of $190.58 and a 200 day moving average price of $210.44. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio is 273.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMT. JMP Securities started coverage on American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price for the company. Wells Fargo & Company dropped their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Barclays cut their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets cut their price target 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. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $226.23.

American Tower 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.