TD Waterhouse Canada Inc. Lowers Position in American Tower Co. (NYSE:AMT)

TD Waterhouse Canada Inc. lowered its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 20.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,833 shares of the real estate investment trust's stock after selling 11,606 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in American Tower were worth $8,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Roxbury Financial LLC bought a new stake in American Tower in the 4th quarter valued at $32,000. Graney & King LLC bought a new stake in shares of American Tower in the fourth quarter worth about $32,000. Crowley Wealth Management Inc. purchased a new stake in shares of American Tower in the fourth quarter worth about $37,000. Bank of Jackson Hole Trust bought a new position in American Tower during the fourth quarter valued at approximately $46,000. Finally, Versant Capital Management Inc grew its holdings in American Tower by 113.9% during the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 139 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMT shares. Barclays raised their target price on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target for the company. BMO Capital Markets boosted their price objective on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company raised American Tower from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $233.07.

American Tower Stock Performance

Shares of NYSE AMT traded down $0.27 during midday trading on Friday, reaching $210.64. The company had a trading volume of 2,464,545 shares, compared to its average volume of 2,479,894. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The business's 50-day simple moving average is $210.41 and its 200 day simple moving average is $202.33. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock 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 (NYSE:AMT - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $2.29 EPS. On average, analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given 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 (DPR) is currently 141.37%.

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.