TD Waterhouse Canada Inc. Sells 1,771 Shares of American Tower Corporation $AMT

TD Waterhouse Canada Inc. trimmed its position in American Tower Corporation (NYSE:AMT) by 3.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,938 shares of the real estate investment trust’s stock after selling 1,771 shares during the period. TD Waterhouse Canada Inc.’s holdings in American Tower were worth $11,436,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of American Tower by 260.8% in the first quarter. J.W. Cole Advisors Inc. now owns 7,090 shares of the real estate investment trust’s stock valued at $1,543,000 after buying an additional 5,125 shares in the last quarter. Choreo LLC grew its holdings in shares of American Tower by 0.7% during the first quarter. Choreo LLC now owns 12,903 shares of the real estate investment trust’s stock valued at $2,808,000 after buying an additional 92 shares during the last quarter. KLP Kapitalforvaltning AS increased its position in shares of American Tower by 1.0% during the first quarter. KLP Kapitalforvaltning AS now owns 158,613 shares of the real estate investment trust’s stock worth $34,514,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of American Tower by 29.0% in the 1st quarter. Proficio Capital Partners LLC now owns 1,656 shares of the real estate investment trust’s stock worth $360,000 after acquiring an additional 372 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower news, Director Eugene F. Reilly purchased 5,554 shares of the stock in a transaction dated Friday, October 31st. The shares were bought at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the transaction, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AMT shares. Raymond James Financial reissued a “strong-buy” rating and set a $231.00 price objective (down from $250.00) on shares of American Tower in a report on Wednesday, October 29th. The Goldman Sachs Group lowered their price target on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Morgan Stanley cut their price objective on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Wells Fargo & Company reduced their target price on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Finally, Barclays dropped their price target on shares of American Tower from $251.00 to $203.00 and set an “overweight” rating on the stock in a research report on Monday. Two investment 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.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $228.44.

American Tower Price Performance

Shares of NYSE AMT opened at $180.49 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24. The stock has a fifty day simple moving average of $187.58 and a two-hundred day simple moving average of $204.52. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The firm has a market cap of $84.50 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85.

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

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

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.