American Tower Corporation $AMT Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its stake in American Tower Corporation by 3.5%, holding 125,359 shares worth approximately $27.7 million after selling 4,484 shares.
• The company reported $2.60 earnings per share for the latest quarter, exceeding expectations, but experienced a 9.4% decrease in year-over-year revenue.
• American Tower declared a quarterly dividend of $1.70, which translates to an annualized dividend yield of 3.5%, with a payout ratio of 247.27%.

J. Safra Sarasin Holding AG lowered its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 3.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,359 shares of the real estate investment trust's stock after selling 4,484 shares during the period. J. Safra Sarasin Holding AG's holdings in American Tower were worth $27,707,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Focus Financial Network Inc. boosted its position in American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust's stock worth $451,000 after acquiring an additional 170 shares during the last quarter. Resolution Capital Ltd acquired a new stake in shares of American Tower during the first quarter worth $72,706,000. Golden State Wealth Management LLC boosted its holdings in shares of American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 69 shares during the last quarter. Shum Financial Group Inc. grew its position in shares of American Tower by 3.5% in the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock valued at $913,000 after purchasing an additional 141 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its stake in American Tower by 126.0% in the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust's stock valued at $21,215,000 after purchasing an additional 54,360 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Performance

Shares of NYSE:AMT opened at $193.22 on Thursday. The business's 50-day simple moving average is $203.12 and its 200 day simple moving average is $212.08. The company has a market cap of $90.47 billion, a P/E ratio of 70.26, a PEG ratio of 1.19 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the company earned $2.79 earnings per share. American Tower's revenue for the quarter was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 30th. American Tower's payout ratio is 247.27%.

Insider Activity

In related news, CEO Juan Font sold 720 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.17% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on AMT shares. Hsbc Global Res lowered American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. BMO Capital Markets reissued an "outperform" rating and issued a $245.00 target price (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. HSBC downgraded shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price for the company. in a report on Wednesday, July 30th. Barclays increased their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $242.07.

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.

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