American Tower Corporation $AMT Stock Position Raised by MGO One Seven LLC

MGO One Seven LLC grew its position in shares of American Tower Corporation (NYSE:AMT) by 24.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,278 shares of the real estate investment trust’s stock after buying an additional 3,752 shares during the quarter. MGO One Seven LLC’s holdings in American Tower were worth $3,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Focus Financial Network Inc. boosted its stake in shares of American Tower by 9.1% during the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after acquiring an additional 170 shares in the last quarter. Stack Financial Management Inc acquired a new stake in American Tower in the 2nd quarter worth approximately $13,020,000. Los Angeles Capital Management LLC boosted its position in American Tower by 52.5% during the second quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock worth $71,094,000 after purchasing an additional 110,671 shares during the period. First Trust Advisors LP grew its holdings in American Tower by 47.3% during the second quarter. First Trust Advisors LP now owns 109,124 shares of the real estate investment trust’s stock valued at $24,119,000 after purchasing an additional 35,037 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of American Tower by 1.0% in the second quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock valued at $334,430,000 after purchasing an additional 15,920 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 1.4%

NYSE AMT opened at $173.85 on Wednesday. American Tower Corporation has a twelve month low of $166.88 and a twelve month high of $234.33. The stock has a market cap of $81.39 billion, a PE ratio of 27.77, a PEG ratio of 0.69 and a beta of 0.92. The firm has a 50-day simple moving average of $177.71 and a 200 day simple moving average of $193.91. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the prior year, the firm posted $2.52 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, research analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be paid a dividend of $1.70 per share. The ex-dividend date is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 3.9%. American Tower’s payout ratio is currently 108.63%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Raymond James Financial reiterated a “strong-buy” rating and issued a $231.00 target price (down from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. BMO Capital Markets downgraded American Tower from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $210.00 to $185.00 in a research report on Friday. TD Cowen dropped their price objective on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Royal Bank Of Canada restated a “sector perform” rating and set a $220.00 target price on shares of American Tower in a research note on Friday, December 19th. Finally, Morgan Stanley dropped their price target on American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $223.05.

Insider Buying and Selling at American Tower

In other American Tower news, Director Eugene F. Reilly acquired 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was bought at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the purchase, the director owned 5,689 shares in the company, valued at $1,018,274.11. This represents a 4,114.07% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.18% of the company’s stock.

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.