American Tower Co. (NYSE:AMT) Shares Sold by Daymark Wealth Partners LLC

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

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC boosted its position 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 worth $25,000 after purchasing an additional 78 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower in the third quarter worth about $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 purchased a new stake in shares of American Tower during the 3rd quarter valued at about $34,000. Finally, Activest Wealth Management lifted its position 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 worth $36,000 after acquiring an additional 125 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of NYSE AMT opened at $186.31 on Friday. The business has a 50 day simple moving average of $192.48 and a 200-day simple moving average of $211.29. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a market capitalization of $87.06 billion, a price-to-earnings ratio of 78.61, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. 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 (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the company posted $2.58 earnings per share. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities research analysts expect that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 3.48%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMT. Scotiabank lowered their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday. The Goldman Sachs Group dropped their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company reduced their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.42.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

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.