National Bank of Canada FI Has $47.48 Million Holdings in American Tower Co. (NYSE:AMT)

National Bank of Canada FI lessened its stake in American Tower Co. (NYSE:AMT) by 38.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 217,583 shares of the real estate investment trust’s stock after selling 135,743 shares during the quarter. National Bank of Canada FI’s holdings in American Tower were worth $47,482,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMT. TCG Advisory Services LLC boosted its stake in shares of American Tower by 1,004.9% in the 4th quarter. TCG Advisory Services LLC now owns 20,110 shares of the real estate investment trust’s stock valued at $4,341,000 after purchasing an additional 18,290 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its position in American Tower by 18.9% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 10,716 shares of the real estate investment trust’s stock worth $2,313,000 after purchasing an additional 1,707 shares during the period. AJOVista LLC bought a new position in shares of American Tower during the fourth quarter worth approximately $188,000. Legacy Financial Advisors Inc. bought a new stake in American Tower during the fourth quarter worth about $235,000. Finally, Knuff & Co LLC increased its stake in shares of American Tower by 0.5% in the 4th quarter. Knuff & Co LLC now owns 22,502 shares of the real estate investment trust’s stock valued at $4,858,000 after purchasing an additional 123 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Transactions at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The shares were 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 owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

American Tower Trading Down 2.0 %

AMT stock traded down $3.56 during midday trading on Monday, hitting $178.18. The stock had a trading volume of 1,033,480 shares, compared to its average volume of 2,451,785. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The company’s 50-day moving average price is $189.15 and its 200 day moving average price is $194.80. The firm has a market cap of $83.09 billion, a PE ratio of 41.12, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the company earned $2.54 EPS. American Tower’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts predict that American Tower Co. will post 9.96 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $1.62 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.64%. American Tower’s dividend payout ratio is presently 146.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AMT shares. Mizuho initiated coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. JPMorgan Chase & Co. dropped their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. Finally, Scotiabank lowered their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $221.91.

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.