American Tower Corporation $AMT Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in American Tower Corporation (NYSE:AMT) by 8.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 564,402 shares of the real estate investment trust’s stock after selling 49,702 shares during the period. Bank of Montreal Can owned 0.12% of American Tower worth $124,744,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. grew its stake in American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 80 shares during the last quarter. Saudi Central Bank purchased a new position in shares of American Tower during the first quarter valued at approximately $40,000. Accredited Wealth Management LLC grew its stake in American Tower by 180.0% in the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 135 shares during the period. Finally, Park Square Financial Group LLC raised its holdings in American Tower by 512.8% in the 1st quarter. Park Square Financial Group LLC now owns 239 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 200 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

AMT opened at $177.00 on Tuesday. The company’s 50 day simple moving average is $192.02 and its 200 day simple moving average is $207.59. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The stock has a market capitalization of $82.88 billion, a PE ratio of 28.28, a P/E/G ratio of 1.08 and a beta of 0.86.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the company earned $2.52 earnings per share. The company’s quarterly 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. As a group, sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.8%. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price objective on American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. UBS Group reissued a “buy” rating and issued a $260.00 price target on shares of American Tower in a research note on Wednesday, October 29th. Jefferies Financial Group dropped their price objective on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. The Goldman Sachs Group cut their price objective on shares of American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Finally, TD Cowen decreased their target price on shares of American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $231.11.

American Tower Company 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.