National Bank of Canada FI Raises Stock Holdings in American Tower Co. (NYSE:AMT)

National Bank of Canada FI lifted its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 73.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 305,708 shares of the real estate investment trust's stock after acquiring an additional 129,070 shares during the period. National Bank of Canada FI owned approximately 0.07% of American Tower worth $71,095,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Balentine LLC bought a new stake in American Tower during the 3rd quarter worth approximately $586,000. Point72 Hong Kong Ltd bought a new stake in American Tower during the third quarter worth $1,156,000. Czech National Bank raised its position in American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust's stock valued at $22,128,000 after buying an additional 6,163 shares during the last quarter. Banque Cantonale Vaudoise raised its position in American Tower by 46.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust's stock valued at $5,980,000 after buying an additional 8,195 shares during the last quarter. Finally, Savvy Advisors Inc. lifted its stake in American Tower by 268.2% during the 3rd quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust's stock valued at $1,038,000 after acquiring an additional 3,251 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Performance

AMT traded down $2.06 on Friday, hitting $207.10. The company's stock had a trading volume of 2,677,904 shares, compared to its average volume of 2,319,693. The company's 50 day simple moving average is $213.32 and its 200-day simple moving average is $213.12. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm has a market cap of $96.78 billion, a P/E ratio of 87.38, a price-to-earnings-growth ratio of 1.38 and a beta of 0.83.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.77 billion. During the same quarter last year, the firm posted $2.58 earnings per share. American Tower's revenue for the quarter was down 10.5% compared to the same quarter last year. Analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.13%. American Tower's dividend payout ratio is currently 273.42%.

Analyst Ratings Changes

AMT has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered shares of American Tower from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Mizuho boosted their target price on American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. StockNews.com downgraded American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Barclays cut their price objective on American Tower from $255.00 to $251.00 and set an "overweight" rating on the stock in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. raised their target price on American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $235.54.

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.