Moors & Cabot Inc. Sells 110 Shares of American Tower Co. (NYSE:AMT)

Moors & Cabot Inc. lowered its position in American Tower Co. (NYSE:AMT) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,615 shares of the real estate investment trust’s stock after selling 110 shares during the quarter. Moors & Cabot Inc.’s holdings in American Tower were worth $480,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new position in shares of American Tower during the fourth quarter valued at $32,000. Legacy Investment Solutions LLC purchased a new position in American Tower during the 3rd quarter valued at about $34,000. Activest Wealth Management raised its holdings in shares of American Tower by 431.0% in the 3rd 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 in the last quarter. Bank of Jackson Hole Trust purchased a new stake in shares of American Tower in the 4th quarter worth approximately $46,000. Finally, Versant Capital Management Inc boosted its stake in shares of American Tower by 113.9% during the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 139 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Wells Fargo & Company cut their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. JMP Securities began coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target for the company. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $226.29.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s 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 sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

American Tower Price Performance

NYSE AMT opened at $211.02 on Friday. The company has a market cap of $98.64 billion, a price-to-earnings ratio of 89.04, a PEG ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock’s fifty day moving average price is $192.33 and its 200 day moving average price is $205.82. 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, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $2.29 earnings per share. As a group, equities research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio is 141.37%.

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.