National Bank of Canada FI Decreases Stake in American Tower Co. (NYSE:AMT)

National Bank of Canada FI decreased its holdings in American Tower Co. (NYSE:AMT) by 13.8% in the 1st quarter, HoldingsChannel reports. The fund owned 187,636 shares of the real estate investment trust’s stock after selling 29,947 shares during the quarter. National Bank of Canada FI’s holdings in American Tower were worth $34,617,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cross Staff Investments Inc lifted its stake in shares of American Tower by 5.1% in the fourth quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after purchasing an additional 244 shares during the period. Anchor Capital Advisors LLC increased its holdings in American Tower by 38.1% during the 4th quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock valued at $16,542,000 after acquiring an additional 21,139 shares in the last quarter. Meyer Handelman Co. acquired a new position in American Tower during the first quarter worth about $801,000. TD Asset Management Inc lifted its holdings in shares of American Tower by 23.2% in the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock valued at $59,459,000 after purchasing an additional 51,882 shares in the last quarter. Finally, FAS Wealth Partners Inc. acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $2,001,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Down 0.0 %

Shares of NYSE AMT traded down $0.07 on Wednesday, reaching $209.45. 1,922,831 shares of the company traded hands, compared to its average volume of 2,324,110. The stock has a market capitalization of $97.81 billion, a PE ratio of 47.39, a P/E/G ratio of 1.47 and a beta of 0.81. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39. The company has a 50 day moving average of $196.90 and a 200 day moving average of $193.68.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company posted $2.54 EPS. On average, equities research analysts forecast that American Tower Co. will post 10.04 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 14th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, June 14th. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

Insider Buying and Selling

In other American Tower news, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the sale, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the transaction, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMT. The Goldman Sachs Group started coverage on American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 target price on the stock. BMO Capital Markets reduced their price objective on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Wells Fargo & Company increased their price objective on American Tower from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Mizuho initiated 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 for the company. Finally, Scotiabank decreased their price target on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, May 1st. Three 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 company. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $222.92.

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.