TD Asset Management Inc Has $74.64 Million Stake in American Tower Co. (NYSE:AMT)

TD Asset Management Inc lessened its holdings in American Tower Co. (NYSE:AMT) by 13.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 384,873 shares of the real estate investment trust’s stock after selling 58,282 shares during the period. TD Asset Management Inc owned 0.08% of American Tower worth $74,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. Moreno Evelyn V boosted its holdings in shares of American Tower by 5.3% during the 2nd quarter. Moreno Evelyn V now owns 24,363 shares of the real estate investment trust’s stock worth $4,725,000 after buying an additional 1,225 shares during the period. Level Four Advisory Services LLC grew its position in shares of American Tower by 40.4% in the first quarter. Level Four Advisory Services LLC now owns 5,192 shares of the real estate investment trust’s stock valued at $1,061,000 after purchasing an additional 1,493 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in American Tower by 1.2% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 84,207 shares of the real estate investment trust’s stock worth $17,207,000 after purchasing an additional 1,026 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in American Tower by 2.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 527,792 shares of the real estate investment trust’s stock valued at $102,360,000 after purchasing an additional 14,111 shares during the period. Finally, Daymark Wealth Partners LLC grew its holdings in American Tower by 29.2% in the 2nd quarter. Daymark Wealth Partners LLC now owns 5,081 shares of the real estate investment trust’s stock valued at $985,000 after buying an additional 1,147 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

American Tower Stock Up 5.8 %

Shares of NYSE AMT opened at $194.20 on Wednesday. The stock has a 50-day moving average price of $171.81 and a two-hundred day moving average price of $182.62. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $235.57. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 3.15. The company has a market cap of $90.53 billion, a price-to-earnings ratio of 126.93, a PEG ratio of 1.57 and a beta of 0.63.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Wednesday, October 11th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.34%. This is a boost from American Tower’s previous quarterly dividend of $1.57. The ex-dividend date was Tuesday, October 10th. American Tower’s dividend payout ratio is currently 423.53%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 10,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $178.14, for a total transaction of $1,781,400.00. Following the completion of the transaction, the chief financial officer now directly owns 50,662 shares in the company, valued at $9,024,928.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 10,300 shares of company stock worth $1,830,903 over the last quarter. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Royal Bank of Canada lowered their price target on shares of American Tower from $233.00 to $230.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $218.00 to $236.00 and gave the company an “overweight” rating in a research report on Tuesday, November 7th. StockNews.com assumed coverage on American Tower in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Scotiabank began coverage on American Tower in a report on Friday, October 13th. They issued a “sector outperform” rating and a $208.00 price objective for the company. Finally, Morgan Stanley reduced their target price on American Tower from $212.00 to $169.00 and set an “equal weight” rating on the stock in a report on Monday, October 16th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $228.60.

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 nearly 225,000 communications sites and a highly interconnected footprint of U.S. data center facilities.