MGO One Seven LLC Grows Stock Position in American Tower Co. (NYSE:AMT)

MGO One Seven LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,316 shares of the real estate investment trust's stock after buying an additional 1,401 shares during the period. MGO One Seven LLC's holdings in American Tower were worth $4,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Partners Group Holding AG raised its position in shares of American Tower by 8.3% in the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after purchasing an additional 28,988 shares during the last quarter. Nordea Investment Management AB increased its stake in American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock valued at $260,743,000 after purchasing an additional 314,769 shares in the last quarter. TigerOak Management L.L.C. purchased a new position in shares of American Tower in the fourth quarter worth $1,102,000. Brookstone Capital Management raised its holdings in shares of American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock worth $1,629,000 after buying an additional 1,995 shares during the last quarter. Finally, CCLA Investment Management lifted its stake in shares of American Tower by 5.5% during the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock worth $79,344,000 after buying an additional 22,523 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on AMT. Morgan Stanley began coverage on American Tower in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price on the stock. BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Barclays raised their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company upgraded shares of American Tower from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $233.07.

American Tower Stock Performance

AMT stock traded down $0.27 during midday trading on Friday, hitting $210.64. 2,464,545 shares of the stock traded hands, compared to its average volume of 2,485,503. The stock's fifty day simple moving average is $210.83 and its 200-day simple moving average is $202.11. The firm has a market cap of $98.47 billion, a P/E ratio of 88.88, a PEG ratio of 1.29 and a beta of 0.87. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. The firm had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company's quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $2.29 EPS. On average, analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This is a boost from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.23%. American Tower's dividend payout ratio is currently 141.37%.

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.