J. Safra Sarasin Holding AG Has $28.25 Million Stake in American Tower Corporation (NYSE:AMT)

J. Safra Sarasin Holding AG lowered its position in American Tower Corporation (NYSE:AMT) by 1.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 129,843 shares of the real estate investment trust’s stock after selling 1,419 shares during the period. J. Safra Sarasin Holding AG’s holdings in American Tower were worth $28,254,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMT. North Capital Inc. acquired a new position in shares of American Tower in the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. lifted its position in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the period. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower in the 4th quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower in the 1st quarter worth approximately $31,000. Finally, Lowe Wealth Advisors LLC lifted its position in shares of American Tower by 218.0% in the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Juan Font sold 720 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

American Tower Price Performance

AMT opened at $212.18 on Friday. The firm has a market cap of $99.33 billion, a P/E ratio of 77.16, a PEG ratio of 1.15 and a beta of 0.82. The firm has a 50-day moving average of $218.73 and a 200 day moving average of $210.32. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.81 and a current ratio of 0.95. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.79 earnings per share. On average, research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were given a dividend of $1.70 per share. The ex-dividend date was Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.2%. American Tower’s dividend payout ratio is presently 247.27%.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent analyst reports. Royal Bank Of Canada boosted their price target on shares of American Tower from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday. Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group boosted their target price on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company dropped their target price on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average target price of $243.88.

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.