Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 625 Shares of American Tower Corporation $AMT

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of American Tower Corporation (NYSE:AMT) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,951 shares of the real estate investment trust’s stock after buying an additional 625 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in American Tower were worth $1,757,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Blossom Wealth Management boosted its position in American Tower by 1.8% during the 2nd quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock worth $575,000 after acquiring an additional 45 shares during the last quarter. TFG Advisers LLC boosted its holdings in shares of American Tower by 0.3% in the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock valued at $3,578,000 after buying an additional 47 shares during the last quarter. Novem Group boosted its holdings in shares of American Tower by 3.8% in the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 48 shares during the last quarter. Elmwood Wealth Management Inc. increased its holdings in shares of American Tower by 2.5% in the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock valued at $454,000 after purchasing an additional 50 shares during the last quarter. Finally, 4J Wealth Management LLC increased its holdings in shares of American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust’s stock valued at $283,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 0.6%

AMT stock opened at $190.10 on Friday. 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 company’s 50 day moving average is $201.53 and its 200 day moving average is $211.75. The stock has a market cap of $89.01 billion, a price-to-earnings ratio of 69.13, a price-to-earnings-growth ratio of 1.17 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.

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

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio is 247.27%.

Analysts Set New Price Targets

AMT has been the topic of several research reports. Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a report on Saturday, September 27th. Wall Street Zen cut shares of American Tower from a “hold” rating to a “sell” rating in a report on Saturday. UBS Group raised their price objective on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and an average target price of $242.07.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the company’s stock in a transaction that occurred 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

About American Tower

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.