Mirae Asset Global Investments Co. Ltd. Has $27.17 Million Holdings in American Tower Co. (NYSE:AMT)

Mirae Asset Global Investments Co. Ltd. trimmed 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. The institutional investor owned 140,091 shares of the real estate investment trust’s stock after selling 10,630 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in American Tower were worth $27,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP lifted its position in American Tower by 1.6% during the first quarter. Wellington Management Group LLP now owns 13,452,478 shares of the real estate investment trust’s stock worth $2,748,879,000 after purchasing an additional 213,815 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in 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 purchasing an additional 10,464,030 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of American Tower by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 9,733,814 shares of the real estate investment trust’s stock valued at $1,985,706,000 after purchasing an additional 131,933 shares during the last quarter. Deutsche Bank AG lifted its position in shares of American Tower by 4.0% during the 1st quarter. Deutsche Bank AG now owns 7,325,350 shares of the real estate investment trust’s stock worth $1,496,862,000 after buying an additional 284,470 shares during the last quarter. Finally, Morgan Stanley grew its position in American Tower by 15.4% in the fourth quarter. Morgan Stanley now owns 7,231,486 shares of the real estate investment trust’s stock valued at $1,532,063,000 after acquiring an additional 962,800 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

American Tower Stock Up 1.0 %

American Tower stock opened at $199.64 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.15. The company has a market capitalization of $93.07 billion, a P/E ratio of 130.48, a P/E/G ratio of 1.70 and a beta of 0.63. The firm has a 50 day moving average price of $173.23 and a 200-day moving average price of $182.69. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $235.57.

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 an increase from American Tower’s previous quarterly dividend of $1.57. This represents a $6.48 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Tuesday, October 10th. American Tower’s dividend payout ratio (DPR) is currently 423.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMT shares. JPMorgan Chase & Co. increased their target price on shares of American Tower from $218.00 to $236.00 and gave the stock an “overweight” rating in a report on Tuesday, November 7th. Wells Fargo & Company lowered their price target on shares of American Tower from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. Royal Bank of Canada reduced their price objective 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. Raymond James dropped their target price on American Tower from $211.00 to $205.00 and set an “outperform” rating for the company in a research report on Tuesday, August 22nd. Finally, Morgan Stanley reduced their price target on American Tower from $212.00 to $169.00 and set an “equal weight” rating on the stock in a report on Monday, October 16th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, 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.