MGO One Seven LLC Sells 685 Shares of American Tower Co. (NYSE:AMT)

MGO One Seven LLC trimmed its position in American Tower Co. (NYSE:AMTFree Report) by 15.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,694 shares of the real estate investment trust’s stock after selling 685 shares during the quarter. MGO One Seven LLC’s holdings in American Tower were worth $607,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC increased its stake in American Tower by 101,474.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,474,342 shares of the real estate investment trust’s stock valued at $2,219,094,000 after buying an additional 10,464,030 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in American Tower by 113,099.4% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 6,499,910 shares of the real estate investment trust’s stock worth $1,260,593,000 after buying an additional 6,494,168 shares during the last quarter. Norges Bank purchased a new position in shares of American Tower during the fourth quarter valued at approximately $1,008,567,000. Cohen & Steers Inc. grew its position in American Tower by 44.2% during the second quarter. Cohen & Steers Inc. now owns 9,842,980 shares of the real estate investment trust’s stock valued at $1,908,844,000 after buying an additional 3,016,160 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in American Tower by 2,329.8% during the third quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock valued at $218,682,000 after buying an additional 1,275,052 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent analyst reports. Citigroup dropped their price target on shares of American Tower from $230.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Scotiabank began coverage on shares of American Tower in a research report on Friday, October 13th. They set a “sector outperform” rating and a $208.00 target price for the company. Morgan Stanley reduced their target price on shares of American Tower from $212.00 to $169.00 and set an “equal weight” rating on the stock in a research note on Monday, October 16th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, Barclays reduced their target price on shares of American Tower from $229.00 to $224.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $221.54.

Get Our Latest Research Report on American Tower

American Tower Stock Down 1.5 %

American Tower stock traded down $2.92 during midday trading on Friday, hitting $197.29. 1,723,112 shares of the company’s stock were exchanged, compared to its average volume of 2,094,392. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $235.49. The company has a market cap of $91.97 billion, a PE ratio of 130.91, a P/E/G ratio of 1.55 and a beta of 0.70. The company has a debt-to-equity ratio of 3.15, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a 50-day moving average of $208.50 and a two-hundred day moving average of $188.82.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Thursday, December 28th will be given a dividend of $1.70 per share. The ex-dividend date is Wednesday, December 27th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.45%. American Tower’s dividend payout ratio (DPR) is currently 444.45%.

About American Tower

(Free Report)

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.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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