Bank of Montreal Can Has $206.42 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Bank of Montreal Can trimmed its position in American Tower Co. (NYSE:AMT) by 6.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 896,227 shares of the real estate investment trust’s stock after selling 57,789 shares during the period. Bank of Montreal Can’s holdings in American Tower were worth $206,419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Balentine LLC bought a new position in shares of American Tower in the third quarter worth about $586,000. Czech National Bank raised its position in shares of American Tower by 6.9% during the third 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. Tidal Investments LLC lifted its stake in shares of American Tower by 27.7% in the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after buying an additional 4,430 shares during the period. Cetera Advisors LLC grew its holdings in shares of American Tower by 29.0% during the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock worth $8,157,000 after purchasing an additional 9,275 shares in the last quarter. Finally, Banque Cantonale Vaudoise boosted its stake in American Tower by 46.8% during the third quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock worth $5,980,000 after buying an additional 8,195 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Trading Up 1.6 %

AMT opened at $207.60 on Tuesday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a market capitalization of $97.01 billion, a PE ratio of 87.59, a PEG ratio of 1.36 and a beta of 0.84. 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 firm has a 50-day moving average price of $218.10 and a two-hundred day moving average price of $211.99.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.77 billion. During the same period in the prior year, the business earned $2.58 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analyst Ratings Changes

A number of analysts recently weighed in on AMT shares. JPMorgan Chase & Co. upped their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets decreased their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Scotiabank cut their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.54.

About American Tower

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.