Moors & Cabot Inc. Has $637,000 Stake in American Tower Co. (NYSE:AMT)

Moors & Cabot Inc. grew its position in American Tower Co. (NYSE:AMT) by 9.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,725 shares of the real estate investment trust’s stock after purchasing an additional 229 shares during the quarter. Moors & Cabot Inc.’s holdings in American Tower were worth $637,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cultivar Capital Inc. bought a new position in American Tower in the second quarter valued at approximately $25,000. Fortitude Family Office LLC increased its stake 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 valued at $25,000 after purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower during the 2nd quarter worth $27,000. Hobbs Group Advisors LLC bought a new stake in shares of American Tower during the 2nd quarter worth $29,000. Finally, Northwest Investment Counselors LLC acquired a new stake in American Tower in the third quarter valued at about $30,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 0.7 %

Shares of AMT stock opened at $204.32 on Friday. The stock has a 50-day moving average of $218.75 and a 200-day moving average of $211.42. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $95.48 billion, a price-to-earnings ratio of 86.21, a PEG ratio of 1.34 and a beta of 0.84. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the business posted $2.58 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.17%. American Tower’s payout ratio is 273.42%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMT shares. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Barclays cut their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $235.54.

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.