J.Safra Asset Management Corp Has $423,000 Stock Holdings in American Tower Corporation $AMT

Key Points

• J.Safra Asset Management Corp increased its holdings in American Tower Corporation (NYSE:AMT) by 1,327.9% during the second quarter, now owning shares worth $423,000.
• American Tower's recent quarterly earnings showed a net margin of 12.60% and revenue of $2.63 billion, surpassing analyst expectations.
• The company declared a quarterly dividend of $1.70 per share, with an upcoming payment date on October 20th.

J.Safra Asset Management Corp increased its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 1,327.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,942 shares of the real estate investment trust's stock after buying an additional 1,806 shares during the quarter. J.Safra Asset Management Corp's holdings in American Tower were worth $423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMT. Brighton Jones LLC increased its stake in American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after acquiring an additional 2,104 shares during the period. GAMMA Investing LLC increased its stake in American Tower by 9.0% in the first quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust's stock valued at $1,702,000 after acquiring an additional 648 shares during the period. Assenagon Asset Management S.A. increased its stake in American Tower by 1.9% in the first quarter. Assenagon Asset Management S.A. now owns 17,433 shares of the real estate investment trust's stock valued at $3,793,000 after acquiring an additional 326 shares during the period. Tritonpoint Wealth LLC bought a new stake in American Tower in the first quarter valued at about $220,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in American Tower by 0.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 276,533 shares of the real estate investment trust's stock valued at $60,174,000 after acquiring an additional 1,205 shares during the period. Institutional investors own 92.69% of the company's stock.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the sale, the chief executive officer directly owned 23,425 shares of the company's stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by company insiders.

American Tower Price Performance

Shares of American Tower stock opened at $183.03 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The stock has a market capitalization of $85.70 billion, a price-to-earnings ratio of 66.56, a P/E/G ratio of 1.13 and a beta of 0.86. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The firm's 50-day moving average price is $198.16 and its two-hundred day moving average price is $210.57.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 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 business had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. During the same period in the prior year, the firm earned $2.79 earnings per share. American Tower's revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower's dividend payout ratio is 247.27%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. HSBC cut shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price on the stock. in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Wells Fargo & Company decreased their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of American Tower in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $241.06.

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.

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