National Bank of Canada FI Sells 50,851 Shares of American Tower Corporation $AMT

National Bank of Canada FI lowered its position in American Tower Corporation (NYSE:AMT) by 11.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 385,818 shares of the real estate investment trust’s stock after selling 50,851 shares during the period. National Bank of Canada FI owned about 0.08% of American Tower worth $85,274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AMT. Legacy Investment Solutions LLC purchased a new stake in shares of American Tower during the second quarter worth about $31,000. VSM Wealth Advisory LLC grew its stake in American Tower by 136.4% during the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 90 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in American Tower by 86.0% during the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. Saudi Central Bank bought a new stake in American Tower in the 1st quarter valued at $40,000. Finally, Winnow Wealth LLC purchased a new stake in American Tower in the 2nd quarter worth $44,000. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMT has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. HSBC cut their price target on American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a report on Monday, December 8th. TD Cowen cut their target price on shares of American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $228.00.

American Tower Price Performance

Shares of American Tower stock opened at $180.95 on Monday. The stock has a market cap of $84.71 billion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 0.72 and a beta of 0.91. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50 day moving average price of $182.83 and a 200-day moving average price of $200.34. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period last year, the company earned $2.52 earnings per share. American Tower’s revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio is presently 108.63%.

Insider Transactions at American Tower

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the transaction, the insider owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average cost of $178.99 per share, with a total value of $994,110.46. Following the completion of the purchase, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. The trade was a 4,114.07% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.18% of the company’s stock.

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.