American Tower Co. (NYSE:AMT) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in shares of American Tower Co. (NYSE:AMT) by 6.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 896,227 shares of the real estate investment trust’s stock after selling 57,789 shares during the quarter. Bank of Montreal Can owned about 0.19% of American Tower worth $206,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its position in American Tower by 41.8% in the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares during the period. Pathway Financial Advisers LLC lifted its holdings in shares of American Tower by 23,224.1% in the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after buying an additional 993,061 shares during the period. International Assets Investment Management LLC boosted its stake in American Tower by 22,242.7% during the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after buying an additional 775,379 shares in the last quarter. Swedbank AB acquired a new position in American Tower during the first quarter worth about $123,861,000. Finally, Massachusetts Financial Services Co. MA raised its position in American Tower by 16.3% in the second 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 acquiring an additional 464,429 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMT. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Mizuho lifted their price target on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their price objective on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower Stock Up 1.6 %

American Tower stock opened at $207.60 on Tuesday. The firm’s 50 day moving average price is $218.10 and its two-hundred day moving average price is $211.99. The firm has a market cap of $97.01 billion, a PE ratio of 87.59, a P/E/G ratio of 1.36 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

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

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is 273.42%.

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.