American Tower Corporation $AMT Holdings Lowered by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG cut its stake in American Tower Corporation (NYSE:AMT) by 3.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 120,576 shares of the real estate investment trust’s stock after selling 4,783 shares during the period. J. Safra Sarasin Holding AG’s holdings in American Tower were worth $23,189,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. TFG Advisers LLC boosted its holdings in American Tower by 0.3% during the second quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock worth $3,578,000 after buying an additional 47 shares in the last quarter. Analyst IMS Investment Management Services Ltd. raised its holdings in shares of American Tower by 3.6% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock valued at $303,000 after acquiring an additional 48 shares during the period. Marion Wealth Management lifted its position in shares of American Tower by 0.8% in the 2nd quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock valued at $1,309,000 after acquiring an additional 48 shares in the last quarter. Cypress Wealth Services LLC boosted its stake in American Tower by 1.9% in the 2nd quarter. Cypress Wealth Services LLC now owns 2,684 shares of the real estate investment trust’s stock worth $593,000 after purchasing an additional 49 shares during the period. Finally, YANKCOM Partnership grew its position in American Tower by 2.9% during the 2nd quarter. YANKCOM Partnership now owns 1,729 shares of the real estate investment trust’s stock worth $382,000 after purchasing an additional 49 shares in 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 $179.52 on Tuesday. The firm has a market capitalization of $84.04 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 0.75 and a beta of 0.92. American Tower Corporation has a one year low of $166.88 and a one year high of $234.33. The business has a fifty day simple moving average of $177.49 and a 200 day simple moving average of $191.25. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.14. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.52 EPS. Sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s dividend payout ratio is 108.63%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group dropped their price target on American Tower from $260.00 to $254.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 target price on the stock in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a research report on Monday, December 29th. Raymond James Financial decreased their price target on American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a research note on Friday. Finally, HSBC cut their price objective on American Tower from $235.00 to $205.00 in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.79.

Insider Buying and Selling

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the purchase, the director owned 5,689 shares in the company, valued at $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.18% of the company’s stock.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.