Moody Aldrich Partners LLC Sells 130 Shares of American Tower Co. (NYSE:AMT)

Moody Aldrich Partners LLC lessened its holdings in American Tower Co. (NYSE:AMT) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,366 shares of the real estate investment trust’s stock after selling 130 shares during the quarter. Moody Aldrich Partners LLC’s holdings in American Tower were worth $318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in American Tower by 1.6% in the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after buying an additional 965,938 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after purchasing an additional 1,885,421 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of American Tower by 8.9% during the 2nd quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust’s stock valued at $720,206,000 after purchasing an additional 302,676 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in American Tower by 16.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock worth $643,571,000 after purchasing an additional 464,429 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in American Tower by 0.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,630,644 shares of the real estate investment trust’s stock valued at $315,868,000 after buying an additional 6,193 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction 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 directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal 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 company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the sale, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock valued at $7,795,397 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft increased their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group started coverage on American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 price target on the stock. Barclays raised their price objective on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Mizuho boosted their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued 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 an average price target of $237.92.

American Tower Stock Performance

AMT stock opened at $225.88 on Friday. American Tower Co. has a 1-year low of $160.49 and a 1-year high of $243.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The stock has a 50-day moving average price of $228.58 and a 200-day moving average price of $207.19. The firm has a market cap of $105.50 billion, a PE ratio of 42.46, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. American Tower’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. As a group, equities research analysts expect that American Tower Co. will post 10.12 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s payout ratio is 121.80%.

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.