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

Moors & Cabot Inc. lowered its position in shares of American Tower Co. (NYSE:AMT) by 4.8% during the second quarter, HoldingsChannel reports. The fund owned 2,496 shares of the real estate investment trust’s stock after selling 126 shares during the quarter. Moors & Cabot Inc.’s holdings in American Tower were worth $485,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the first quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in American Tower in the 2nd quarter valued at approximately $25,000. Gold Investment Management Ltd. bought a new position in shares of American Tower during the fourth quarter valued at $28,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower during the second quarter worth $29,000. Finally, SOA Wealth Advisors LLC. bought a new stake in shares of American Tower in the first quarter worth $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock valued at $7,795,397 over the last ninety days. 0.18% of the stock is owned by company insiders.

American Tower Stock Down 1.5 %

Shares of NYSE AMT opened at $232.31 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a market cap of $108.48 billion, a PE ratio of 52.56, a P/E/G ratio of 1.60 and a beta of 0.83. The company’s fifty day simple moving average is $224.08 and its 200 day simple moving average is $202.24. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the company earned $2.46 EPS. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BMO Capital Markets raised their target price on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. raised their price objective on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their target price on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Scotiabank increased their target price on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price target on shares of American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average target price of $233.29.

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.