Bank of Montreal Can Has $110.63 Million Stock Holdings in American Tower Corporation $AMT

Bank of Montreal Can grew its stake in shares of American Tower Corporation (NYSE:AMT) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 575,222 shares of the real estate investment trust’s stock after purchasing an additional 10,820 shares during the period. Bank of Montreal Can owned about 0.12% of American Tower worth $110,627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AMT. Norges Bank purchased a new position in American Tower during the 2nd quarter worth approximately $1,371,875,000. JPMorgan Chase & Co. boosted its position in shares of American Tower by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after buying an additional 2,474,328 shares during the period. Viking Global Investors LP grew its holdings in shares of American Tower by 233.5% during the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock valued at $618,221,000 after buying an additional 1,958,329 shares in the last quarter. Invesco Ltd. grew its holdings in shares of American Tower by 11.9% during the second quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock valued at $1,476,529,000 after buying an additional 708,808 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in American Tower by 1.0% during the third quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock valued at $12,239,277,000 after buying an additional 611,801 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of several research analyst reports. The Goldman Sachs Group lowered their target price on American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. BMO Capital Markets increased their price target on shares of American Tower from $185.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 25th. Barclays restated an “equal weight” rating and set a $200.00 price target (down from $203.00) on shares of American Tower in a report on Monday, December 1st. Sanford C. Bernstein initiated coverage on shares of American Tower in a research report on Thursday, March 5th. They set a “market perform” rating and a $205.00 price objective on the stock. Finally, Jefferies Financial Group increased their target price on shares of American Tower from $200.00 to $209.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $217.35.

American Tower Price Performance

Shares of AMT opened at $182.82 on Thursday. The firm has a market cap of $85.21 billion, a PE ratio of 33.92, a PEG ratio of 0.78 and a beta of 0.92. The firm’s 50 day moving average price is $181.14 and its 200 day moving average price is $184.47. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 and a current ratio of 0.60. American Tower Corporation has a twelve month low of $166.88 and a twelve month high of $234.33.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.79). American Tower had a return on equity of 24.36% and a net margin of 23.76%.The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the firm earned $2.62 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, research analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.9%. This is an increase from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date is Tuesday, April 14th. American Tower’s dividend payout ratio is 132.84%.

Insiders Place Their Bets

In other American Tower news, COO Eugene M. Noel sold 41,209 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $191.05, for a total value of $7,872,979.45. Following the completion of the sale, the chief operating officer owned 29,592 shares of the company’s stock, valued at $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by company 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.