Empirical Financial Services LLC d.b.a. Empirical Wealth Management Lowers Stake in American Tower Corporation $AMT

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its stake in shares of American Tower Corporation (NYSE:AMT) by 78.4% during the 1st quarter, Holdings Channel reports. The fund owned 1,677 shares of the real estate investment trust’s stock after selling 6,076 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in American Tower were worth $289,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AMT. Richards Merrill & Peterson Inc. purchased a new stake in shares of American Tower during the 4th quarter worth $25,000. Oakworth Capital Inc. grew its stake in American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 68 shares during the last quarter. Swiss RE Ltd. bought a new position in American Tower in the fourth quarter worth about $25,000. Triumph Capital Management bought a new position in American Tower in the third quarter worth about $29,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in shares of American Tower during the fourth quarter valued at about $29,000. 92.69% of the stock is owned by institutional investors.

American Tower Stock Performance

AMT opened at $170.13 on Monday. The company has a market cap of $79.26 billion, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 0.71 and a beta of 0.91. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The firm’s 50-day moving average price is $177.64 and its 200-day moving average price is $178.72. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $234.33.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. American Tower’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the business earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities analysts anticipate that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were issued a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. American Tower’s payout ratio is 115.67%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. The Goldman Sachs Group assumed coverage on shares of American Tower in a research report on Friday, June 26th. They set a “buy” rating and a $215.00 target price for the company. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price for the company in a research note on Wednesday, July 8th. Citizens Jmp reaffirmed a “market outperform” rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Finally, Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.57.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the transaction, the executive vice president directly owned 29,461 shares of the company’s stock, valued at $5,230,505.94. This represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by company insiders.

American Tower Profile

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.