Moors & Cabot Inc. Sells 126 Shares of American Tower Co. (NYSE:AMT)

Moors & Cabot Inc. lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,496 shares of the real estate investment trust’s stock after selling 126 shares during the period. Moors & Cabot Inc.’s holdings in American Tower were worth $485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMT. Wellington Management Group LLP lifted its stake in American Tower by 21.9% in the fourth quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after buying an additional 2,839,570 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of American Tower by 36.2% during the first quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after acquiring an additional 2,336,501 shares during the period. Edgewood Management LLC lifted its position in American Tower by 46.2% in the 4th quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock valued at $1,076,352,000 after acquiring an additional 1,576,683 shares in the last quarter. Vanguard Group Inc. boosted its stake in American Tower by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock worth $12,248,812,000 after purchasing an additional 965,938 shares during the period. Finally, M&G Plc bought a new position in American Tower during the 1st quarter worth about $164,300,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. BMO Capital Markets upped their price target on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Wells Fargo & Company lifted their price objective on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Barclays cut their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.29.

Insider Transactions at American Tower

In related news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is owned by insiders.

American Tower Trading Down 1.5 %

American Tower stock opened at $232.31 on Friday. The stock has a 50-day simple moving average of $224.08 and a 200 day simple moving average of $202.24. The stock has a market capitalization of $108.48 billion, a P/E ratio of 52.56, a PEG ratio of 1.60 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm posted $2.46 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s payout ratio is presently 146.61%.

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.