American Tower Co. (NYSE:AMT) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its position in American Tower Co. (NYSE:AMT) by 17.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 56,915 shares of the real estate investment trust’s stock after acquiring an additional 8,416 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in American Tower were worth $10,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC grew its stake in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares during the period. Northwest Investment Counselors LLC purchased a new stake in American Tower in the 3rd quarter worth approximately $30,000. Hara Capital LLC purchased a new stake in American Tower in the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC purchased a new stake in American Tower in the 3rd quarter worth approximately $34,000. Finally, Activest Wealth Management grew its stake in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 125 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Up 1.2 %

Shares of American Tower stock opened at $189.69 on Friday. The company has a fifty day moving average price of $189.23 and a 200 day moving average price of $209.91. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The stock has a market cap of $88.64 billion, a price-to-earnings ratio of 80.04, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.42%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Wall Street Analysts Forecast Growth

Several analysts have commented on AMT shares. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Mizuho lowered their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $226.23.

American Tower Profile

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.