Emprise Bank Acquires 68 Shares of American Tower Corporation $AMT

Emprise Bank grew its holdings in American Tower Corporation (NYSE:AMT) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,042 shares of the real estate investment trust’s stock after purchasing an additional 68 shares during the quarter. Emprise Bank’s holdings in American Tower were worth $230,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of American Tower by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock valued at $13,667,344,000 after purchasing an additional 434,118 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after purchasing an additional 2,309,627 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of American Tower by 4.0% in the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock valued at $1,606,621,000 after purchasing an additional 285,195 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of American Tower by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock valued at $1,421,965,000 after purchasing an additional 88,120 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in American Tower by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust’s stock worth $1,335,407,000 after acquiring an additional 220,565 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AMT shares. Barclays lifted their price objective on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Wells Fargo & Company reduced their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Hsbc Global Res lowered shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $244.73.

Insider Activity at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the company’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

American Tower Price Performance

NYSE:AMT opened at $192.05 on Tuesday. American Tower Corporation has a one year low of $172.51 and a one year high of $241.97. The company has a market cap of $89.93 billion, a P/E ratio of 69.84, a P/E/G ratio of 1.20 and a beta of 0.86. The firm’s fifty day moving average price is $210.27 and its two-hundred day moving average price is $213.42. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the company earned $2.79 earnings per share. The company’s quarterly revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

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.