Emerald Advisers LLC Has $26,000 Holdings in American Tower Corporation $AMT

Emerald Advisers LLC cut its holdings in shares of American Tower Corporation (NYSE:AMT) by 32.6% in the second quarter, Holdings Channel reports. The institutional investor owned 118 shares of the real estate investment trust’s stock after selling 57 shares during the quarter. Emerald Advisers LLC’s holdings in American Tower were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Focus Financial Network Inc. lifted its holdings in shares of American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after buying an additional 170 shares during the last quarter. Resolution Capital Ltd bought a new position in American Tower in the first quarter worth $72,706,000. Stack Financial Management Inc bought a new position in American Tower in the second quarter worth $13,020,000. Golden State Wealth Management LLC lifted its position in American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 69 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its position in American Tower by 126.0% in the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock worth $21,215,000 after purchasing an additional 54,360 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMT. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. BMO Capital Markets reduced their target price on American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday. UBS Group reaffirmed a “buy” rating and issued a $260.00 target price on shares of American Tower in a research report on Wednesday. Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Finally, Jefferies Financial Group reduced their target price on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price of $234.31.

American Tower Stock Performance

American Tower stock opened at $179.13 on Thursday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. The stock has a fifty day moving average price of $193.96 and a two-hundred day moving average price of $208.52. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The firm has a market capitalization of $83.88 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.11 and a beta of 0.86.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the prior year, the company posted $2.52 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio is currently 247.27%.

American Tower 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.