American Tower Corporation $AMT Stock Position Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 8.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,793 shares of the real estate investment trust’s stock after purchasing an additional 7,872 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in American Tower were worth $18,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in AMT. Brighton Jones LLC grew its holdings in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 368 shares in the last quarter. BSW Wealth Partners grew its stake in American Tower by 11.8% during the second quarter. BSW Wealth Partners now owns 1,880 shares of the real estate investment trust’s stock worth $415,000 after buying an additional 199 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in American Tower by 14.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 218,186 shares of the real estate investment trust’s stock worth $48,223,000 after acquiring an additional 28,046 shares during the last quarter. Finally, Tower View Wealth Management LLC acquired a new stake in shares of American Tower in the second quarter valued at $289,000. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMT has been the topic of several research reports. Argus set a $210.00 price target on American Tower in a research note on Thursday, October 30th. HSBC lowered their price objective on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. UBS Group dropped their price target on American Tower from $260.00 to $254.00 and set a “buy” rating on the stock in a research note on Tuesday, January 20th. Finally, BMO Capital Markets downgraded shares of American Tower from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $210.00 to $185.00 in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.79.

American Tower Trading Down 1.1%

Shares of American Tower stock opened at $179.29 on Friday. The firm has a 50-day moving average of $177.44 and a 200-day moving average of $190.52. American Tower Corporation has a 52-week low of $166.88 and a 52-week high of $234.33. The stock has a market cap of $83.94 billion, a PE ratio of 28.64, a PEG ratio of 0.76 and a beta of 0.92. 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 issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.American Tower’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $2.52 earnings per share. As a group, sell-side analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio is presently 108.63%.

Insider Buying and Selling

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. This trade represents a 91.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.17% of the company’s stock.

About American Tower

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.