MGO One Seven LLC Acquires 1,401 Shares of American Tower Co. (NYSE:AMT)

MGO One Seven LLC boosted its holdings in American Tower Co. (NYSE:AMT) by 6.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 23,316 shares of the real estate investment trust’s stock after acquiring an additional 1,401 shares during the quarter. 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Roxbury Financial LLC bought a new stake in shares of American Tower during the fourth quarter valued at about $32,000. Graney & King LLC bought a new stake in American Tower during the 4th quarter worth approximately $32,000. Crowley Wealth Management Inc. purchased a new stake in American Tower in the 4th quarter worth approximately $37,000. Bank of Jackson Hole Trust bought a new position in American Tower in the 4th quarter valued at $46,000. Finally, Versant Capital Management Inc grew its position in shares of American Tower by 113.9% during the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 3.8 %

NYSE AMT opened at $212.59 on Thursday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a market capitalization of $99.38 billion, a PE ratio of 89.70, a PEG ratio of 1.29 and a beta of 0.87. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The business’s 50-day moving average is $209.98 and its 200 day moving average is $202.42.

American Tower (NYSE:AMT) last announced 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 company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.29 earnings per share. Sell-side analysts forecast 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 issued a $1.70 dividend. The ex-dividend date is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.20%. American Tower’s dividend payout ratio (DPR) is 141.37%.

Analyst Upgrades and Downgrades

AMT has been the subject of several research analyst reports. Morgan Stanley initiated coverage on American Tower in a research note on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective for the company. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday, January 27th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Barclays boosted their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, BMO Capital Markets raised their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, American Tower presently has an average rating of “Buy” and a consensus target price of $233.07.

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.