American Tower Co. (NYSE:AMT) Holdings Decreased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its holdings in American Tower Co. (NYSE:AMT) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,091 shares of the real estate investment trust’s stock after selling 10,630 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in American Tower were worth $27,169,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC boosted its position in shares of American Tower by 101,474.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,474,342 shares of the real estate investment trust’s stock worth $2,219,094,000 after buying an additional 10,464,030 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted 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 purchasing an additional 6,494,168 shares during the period. Norges Bank acquired a new stake in American Tower in the fourth quarter worth about $1,008,567,000. Morgan Stanley grew its position in American Tower by 15.4% in the 4th quarter. Morgan Stanley now owns 7,231,486 shares of the real estate investment trust’s stock valued at $1,532,063,000 after buying an additional 962,800 shares in the last quarter. Finally, ClearBridge Investments Ltd increased its stake in American Tower by 171.3% during the 1st quarter. ClearBridge Investments Ltd now owns 1,508,758 shares of the real estate investment trust’s stock valued at $308,300,000 after buying an additional 952,633 shares during the period. Institutional investors own 89.29% of the company’s stock.

American Tower Stock Up 1.0 %

AMT stock opened at $199.64 on Tuesday. The company has a 50 day moving average of $173.23 and a two-hundred day moving average of $182.69. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.15. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $235.57. The company has a market cap of $93.07 billion, a price-to-earnings ratio of 130.48, a PEG ratio of 1.70 and a beta of 0.63.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Wednesday, October 11th were given a $1.62 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.57. This represents a $6.48 annualized dividend and a yield of 3.25%. The ex-dividend date was Tuesday, October 10th. American Tower’s dividend payout ratio is presently 423.53%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMT. StockNews.com began coverage on shares of American Tower in a report on Thursday, October 5th. They issued a “hold” rating for the company. Royal Bank of Canada lowered their price target on American Tower from $233.00 to $230.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 1st. Citigroup cut their price objective on American Tower from $230.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Barclays dropped their price target on shares of American Tower from $233.00 to $228.00 and set an “overweight” rating on the stock in a research report on Monday, August 7th. Finally, Scotiabank assumed coverage on shares of American Tower in a research note on Friday, October 13th. They issued a “sector outperform” rating and a $208.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $228.60.

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 nearly 225,000 communications sites and a highly interconnected footprint of U.S. data center facilities.