American Tower Co. (NYSE:AMT) Stock Position Raised by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in American Tower Co. (NYSE:AMT) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 142,764 shares of the real estate investment trust’s stock after acquiring an additional 2,758 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in American Tower were worth $26,184,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cohen & Steers Inc. boosted its position in American Tower by 21.8% during the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock valued at $3,516,890,000 after purchasing an additional 3,437,602 shares during the period. Geode Capital Management LLC boosted its holdings in shares of American Tower by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust’s stock valued at $2,074,956,000 after acquiring an additional 129,192 shares during the period. FMR LLC boosted its holdings in shares of American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust’s stock valued at $2,050,390,000 after acquiring an additional 537,136 shares during the period. Capital Research Global Investors grew its position in shares of American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock worth $1,570,547,000 after acquiring an additional 3,421,413 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of American Tower in the 4th quarter worth about $1,164,851,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMT has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Barclays increased their price objective on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. JMP Securities lifted their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada increased their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $239.27.

American Tower Trading Up 0.4%

Shares of NYSE:AMT opened at $204.68 on Thursday. The stock has a market capitalization of $95.82 billion, a price-to-earnings ratio of 86.36, a PEG ratio of 1.29 and a beta of 0.86. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56. The company has a 50 day moving average price of $214.91 and a 200 day moving average price of $201.70. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. American Tower’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, research analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, April 11th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.32%. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date was Friday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 174.81%.

American Tower Company 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.