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

Bank of Montreal Can increased its position in American Tower Co. (NYSE:AMT) by 12.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 954,016 shares of the real estate investment trust’s stock after acquiring an additional 108,355 shares during the period. Bank of Montreal Can’s holdings in American Tower were worth $185,623,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. NBT Bank N A NY raised its position in American Tower by 3.3% during the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after acquiring an additional 54 shares in the last quarter. O Brien Greene & Co. Inc raised its position in shares of American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 55 shares during the period. CFO4Life Group LLC raised its position in shares of American Tower by 5.4% in the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 57 shares during the period. Tyche Wealth Partners LLC raised its position in shares of American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 58 shares during the period. Finally, Adirondack Trust Co. raised its position in shares of American Tower by 2.1% in the first quarter. Adirondack Trust Co. now owns 2,813 shares of the real estate investment trust’s stock valued at $556,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.5 %

Shares of American Tower stock opened at $236.24 on Tuesday. The firm has a market capitalization of $110.32 billion, a PE ratio of 53.45, a price-to-earnings-growth ratio of 1.60 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The company’s fifty day moving average price is $225.12 and its two-hundred day moving average price is $202.62. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the firm posted $2.46 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts expect that American Tower Co. will post 10.13 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid a $1.62 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 2.74%. American Tower’s dividend payout ratio is presently 146.61%.

Insider Activity

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction dated 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. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction dated 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 owns 51,746 shares in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,723 shares of company stock worth $7,795,397. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AMT. The Goldman Sachs Group began coverage on shares of American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 price target on the stock. Barclays dropped their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Wells Fargo & Company boosted their target price on shares of American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada boosted their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.00.

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.