National Bank of Canada FI Cuts Stake in American Tower Co. (NYSE:AMT)

National Bank of Canada FI lowered its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 38.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,583 shares of the real estate investment trust's stock after selling 135,743 shares during the period. National Bank of Canada FI's holdings in American Tower were worth $47,482,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Thompson Investment Management Inc. bought a new position in shares of American Tower in the fourth quarter worth approximately $29,000. McClarren Financial Advisors Inc. purchased a new stake in shares of American Tower during the 3rd quarter valued at $27,000. Emerald Advisers LLC bought a new stake in shares of American Tower during the 3rd quarter worth $29,000. Valley National Advisers Inc. grew its position in American Tower by 200.0% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 118 shares in the last quarter. Finally, Oakworth Capital Inc. lifted its stake in American Tower by 157.9% during the fourth quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on AMT. Morgan Stanley increased their price target on shares of American Tower from $183.00 to $196.00 and gave the company an "equal weight" rating in a research report on Monday, April 15th. Barclays increased their target price on shares of American Tower from $224.00 to $234.00 and gave the company an "overweight" rating in a report on Tuesday, March 5th. Scotiabank lowered their price target on shares of American Tower from $243.00 to $223.00 and set a "sector outperform" rating for the company in a research note on Wednesday, May 1st. BMO Capital Markets decreased their price objective on American Tower from $228.00 to $220.00 and set an "outperform" rating on the stock in a report on Wednesday, May 1st. Finally, Mizuho initiated coverage on American Tower in a research report on Monday, April 8th. They set a "neutral" rating and a $205.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $221.91.

American Tower Stock Down 1.7 %

NYSE:AMT traded down $3.05 during mid-day trading on Monday, hitting $178.69. 2,294,437 shares of the company's stock were exchanged, compared to its average volume of 2,467,112. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The business has a fifty day moving average price of $188.97 and a 200 day moving average price of $194.94. The company has a market cap of $83.33 billion, a PE ratio of 40.43, a P/E/G 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 - Get Free Report) last posted 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 company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period last year, the business earned $2.54 EPS. The firm's quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts predict that American Tower Co. will post 9.96 EPS for the current year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were issued a $1.62 dividend. The ex-dividend date was Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.63%. American Tower's dividend payout ratio (DPR) is presently 146.61%.

Insider Transactions at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the firm's 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 of the company's stock, valued at $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Rodney M. Smith sold 11,510 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now owns 62,969 shares of the company's stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business's 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 transaction, the director now directly owns 18,545 shares of the company's stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

American Tower Company 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.