American Tower Co. (NYSE:AMT) Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lessened its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 20.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,833 shares of the real estate investment trust's stock after selling 11,606 shares during the period. TD Waterhouse Canada Inc.'s holdings in American Tower were worth $8,401,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Graney & King LLC acquired a new position in shares of American Tower during the 4th quarter worth about $32,000. Roxbury Financial LLC purchased a new stake in American Tower during the 4th quarter valued at about $32,000. Crowley Wealth Management Inc. purchased a new stake in American Tower during the 4th quarter valued at about $37,000. Bank of Jackson Hole Trust purchased a new stake in American Tower during the 4th quarter valued at about $46,000. Finally, Kestra Investment Management LLC purchased a new stake in American Tower during the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

AMT has been the subject of several research reports. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Barclays increased their price target on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Citigroup increased their price target on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. BMO Capital Markets increased their price target on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, Mizuho dropped their price target on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, American Tower has a consensus rating of "Buy" and a consensus price target of $233.07.

American Tower Stock Down 0.1 %

American Tower stock traded down $0.27 during mid-day trading on Friday, reaching $210.64. 2,464,545 shares of the company's stock were exchanged, compared to its average volume of 2,485,503. The company has a market cap of $98.47 billion, a P/E ratio of 88.88, a P/E/G ratio of 1.29 and a beta of 0.87. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a fifty day moving average of $210.83 and a 200-day moving average of $202.00.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.29 EPS. Sell-side analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.23%. American Tower's dividend payout ratio is 141.37%.

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.