MGO One Seven LLC Increases Holdings in American Tower Corporation $AMT

MGO One Seven LLC grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,526 shares of the real estate investment trust’s stock after purchasing an additional 551 shares during the quarter. MGO One Seven LLC’s holdings in American Tower were worth $3,432,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. North Capital Inc. purchased a new stake in shares of American Tower during the 1st quarter valued at $25,000. Hopwood Financial Services Inc. increased its holdings in American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower in the 1st quarter worth about $31,000. Saudi Central Bank purchased a new stake in American Tower in the 1st quarter worth about $40,000. Finally, Accredited Wealth Management LLC increased its holdings in American Tower by 180.0% in the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 135 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMT has been the subject of several recent research reports. Jefferies Financial Group decreased their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. lifted their price objective on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Wells Fargo & Company decreased their price objective on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. BMO Capital Markets reissued an “outperform” rating and issued a $245.00 price objective (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $241.06.

American Tower Stock Down 2.0%

AMT stock opened at $183.03 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm has a market capitalization of $85.70 billion, a PE ratio of 66.56, a PEG ratio of 1.13 and a beta of 0.86. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The stock has a 50-day simple moving average of $198.16 and a two-hundred day simple moving average of $210.57.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is 247.27%.

Insider Activity

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.