Raab & Moskowitz Asset Management LLC Sells 245 Shares of American Tower Co. (NYSE:AMT)

Raab & Moskowitz Asset Management LLC lessened its holdings in American Tower Co. (NYSE:AMT) by 14.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,416 shares of the real estate investment trust’s stock after selling 245 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in American Tower were worth $306,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cross Staff Investments Inc increased its holdings in American Tower by 5.1% in the 4th quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after buying an additional 244 shares during the period. Gateway Investment Advisers LLC boosted its stake in shares of American Tower by 57.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock valued at $7,718,000 after purchasing an additional 13,074 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of American Tower by 0.5% in the 3rd quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock valued at $29,155,000 after purchasing an additional 806 shares in the last quarter. PDS Planning Inc boosted its stake in shares of American Tower by 16.1% in the 3rd quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 253 shares in the last quarter. Finally, FAS Wealth Partners Inc. acquired a new stake in shares of American Tower in the 4th quarter valued at $2,001,000. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

American Tower Trading Down 0.7 %

Shares of AMT stock traded down $1.21 on Friday, reaching $171.69. The company had a trading volume of 1,701,397 shares, compared to its average volume of 2,597,943. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. The stock has a market cap of $80.07 billion, a PE ratio of 53.97, a PEG ratio of 1.37 and a beta of 0.67. The company has a 50-day moving average of $190.29 and a 200-day moving average of $193.97. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $2.34 earnings per share. On average, equities analysts forecast that American Tower Co. will post 9.94 earnings per share for the current year.

American Tower Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.77%. American Tower’s payout ratio is 203.77%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AMT shares. Mizuho started coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. BMO Capital Markets reduced their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley upped their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Barclays upped their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.36.

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.