Bank of Montreal Can Sells 206,622 Shares of American Tower Co. (NYSE:AMT)

Bank of Montreal Can lowered its position in American Tower Co. (NYSE:AMT - Free Report) by 23.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689,605 shares of the real estate investment trust's stock after selling 206,622 shares during the quarter. Bank of Montreal Can owned 0.15% of American Tower worth $126,480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Glenview Trust co boosted its holdings in American Tower by 0.8% in the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after purchasing an additional 54 shares during the period. Rehmann Capital Advisory Group raised its position in shares of American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock valued at $332,000 after buying an additional 58 shares during the last quarter. Precedent Wealth Partners LLC lifted its stake in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock valued at $235,000 after buying an additional 58 shares during the period. Resonant Capital Advisors LLC grew its position in American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock worth $206,000 after buying an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its stake in American Tower by 2.9% during the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock valued at $398,000 after acquiring an additional 61 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

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American Tower Price Performance

Shares of AMT traded up $4.93 during mid-day trading on Friday, hitting $213.25. 2,555,413 shares of the company traded hands, compared to its average volume of 2,460,794. 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 capitalization of $99.69 billion, a price-to-earnings ratio of 89.98, a PEG ratio of 1.29 and a beta of 0.87. The business has a 50-day moving average of $205.31 and a 200 day moving average of $202.65. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. The business had revenue of $2.55 billion for 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 revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 earnings per share. As a group, equities analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This is a boost from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.19%. American Tower's dividend payout ratio (DPR) is presently 141.37%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company upgraded American Tower from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $210.00 to $230.00 in a research report on Monday, March 17th. Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Citigroup increased their price target on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Hsbc Global Res raised American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Finally, JMP Securities assumed coverage on American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price for the company. Two investment 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 data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $232.07.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company's stock.

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.