Bank of Nova Scotia Raises Holdings in American Tower Corporation $AMT

Bank of Nova Scotia lifted its position in shares of American Tower Corporation (NYSE:AMT) by 30.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,742 shares of the real estate investment trust’s stock after purchasing an additional 32,897 shares during the period. Bank of Nova Scotia’s holdings in American Tower were worth $24,462,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Riverwater Partners LLC grew its stake in American Tower by 3.8% during the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 56 shares during the last quarter. Triumph Capital Management lifted its stake in American Tower by 37.3% in the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 56 shares during the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of American Tower by 3.5% in the fourth quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust’s stock valued at $293,000 after acquiring an additional 57 shares during the period. Twin City Private Wealth LLC grew its position in shares of American Tower by 0.7% during the fourth quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock worth $1,382,000 after acquiring an additional 58 shares during the last quarter. Finally, Asset Advisory Group Inc. grew its position in shares of American Tower by 3.0% during the first quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock worth $358,000 after acquiring an additional 60 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

NYSE:AMT opened at $166.66 on Friday. The firm’s fifty day moving average price is $176.77 and its 200 day moving average price is $178.35. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $231.54. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $77.65 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the company posted $2.75 EPS. American Tower’s revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, sell-side analysts expect that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, June 12th. American Tower’s dividend payout ratio is currently 115.67%.

Analyst Upgrades and Downgrades

Several analysts recently commented on AMT shares. JPMorgan Chase & Co. reduced their price target on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Citizens Jmp reissued a “market outperform” rating and set a $260.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a research note on Wednesday, July 8th. Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price for the company in a research note on Tuesday, May 19th. Finally, Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $215.57.

Insider Transactions at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the sale, the executive vice president owned 29,877 shares in the company, valued at $5,332,446.96. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

American Tower Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.