American Tower Corporation $AMT Shares Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its American Tower stake by 9.2% in the third quarter, holding 80,589 shares valued at approximately $13.6 million. Institutional investors collectively own 92.69% of AMT’s outstanding shares.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $215, versus the stock’s reported price of $185.24.
• American Tower exceeded quarterly earnings expectations, reporting $2.71 in EPS and $2.75 billion in revenue, while declaring a $1.79 quarterly dividend, equivalent to a 3.9% annualized yield.

TD Waterhouse Canada Inc. boosted its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 9.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 80,589 shares of the real estate investment trust's stock after acquiring an additional 6,767 shares during the period. TD Waterhouse Canada Inc.'s holdings in American Tower were worth $13,600,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMT. Hanson & Doremus Investment Management lifted its stake in American Tower by 7.2% in the 3rd quarter. Hanson & Doremus Investment Management now owns 9,890 shares of the real estate investment trust's stock worth $1,619,000 after purchasing an additional 665 shares in the last quarter. Aspiriant LLC acquired a new stake in shares of American Tower in the third quarter valued at approximately $353,000. Perryman Financial Advisory Inc. AD increased its holdings in shares of American Tower by 6.3% in the third quarter. Perryman Financial Advisory Inc. AD now owns 25,571 shares of the real estate investment trust's stock valued at $4,391,000 after purchasing an additional 1,526 shares during the last quarter. Franchise GP Ltd purchased a new position in American Tower during the third quarter worth approximately $105,000. Finally, Activest Wealth Management lifted its position in American Tower by 30.1% during the third quarter. Activest Wealth Management now owns 566 shares of the real estate investment trust's stock worth $94,000 after buying an additional 131 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Truist Financial reaffirmed a "buy" rating and issued a $207.00 target price (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. BMO Capital Markets lifted their price target on American Tower from $190.00 to $195.00 and gave the stock a "market perform" rating in a report on Wednesday, July 29th. Scotiabank reissued an "outperform" rating on shares of American Tower in a research report on Wednesday, July 29th. TD Cowen lifted their target price on shares of American Tower from $225.00 to $227.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group decreased their price objective on American Tower from $210.00 to $201.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.00.

American Tower Price Performance

American Tower stock opened at $185.24 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $196.08. The firm has a market cap of $86.32 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 2.97 and a beta of 0.88. The company's 50 day moving average is $173.57 and its two-hundred day moving average is $175.39.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $1.14. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, research analysts expect that American Tower Corporation will post 10.80 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, September 30th. American Tower's dividend payout ratio (DPR) is presently 98.49%.

Insider Activity

In related news, EVP Ruth Dowling sold 1,106 shares of the firm's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the transaction, the executive vice president owned 27,711 shares of the company's stock, valued at $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur bought 2,829 shares of the company's stock in a transaction dated Friday, August 21st. The stock was bought at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the acquisition, the director owned 7,765 shares of the company's stock, valued at approximately $1,374,405. This trade represents a 57.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 6,791 shares of company stock valued at $1,204,091. Insiders own 0.08% of the company's stock.

American Tower Profile

American Tower Corporation NYSE: AMT is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (NYSE:AMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.