Apollon Wealth Management LLC Has $2.01 Million Stock Position in American Tower Co. (NYSE:AMT)

Apollon Wealth Management LLC grew its position in American Tower Co. (NYSE:AMT) by 45.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,329 shares of the real estate investment trust’s stock after acquiring an additional 2,911 shares during the period. Apollon Wealth Management LLC’s holdings in American Tower were worth $2,014,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AMT. Jennison Associates LLC raised its position in American Tower by 41.0% during the 4th quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock worth $1,144,014,000 after purchasing an additional 1,541,029 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of American Tower by 2,329.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock worth $218,682,000 after acquiring an additional 1,275,052 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of American Tower by 16,195.9% in the 4th quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock worth $1,833,560,000 after acquiring an additional 844,128 shares in the last quarter. Wellington Management Group LLP raised its position in shares of American Tower by 5.6% in the 3rd quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock worth $2,135,227,000 after acquiring an additional 691,934 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of American Tower by 22.9% in the 3rd quarter. Clearbridge Investments LLC now owns 3,255,988 shares of the real estate investment trust’s stock worth $535,447,000 after acquiring an additional 607,199 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

Shares of American Tower stock traded down $0.47 during trading on Wednesday, hitting $180.81. The stock had a trading volume of 315,257 shares, compared to its average volume of 2,443,686. The firm has a market cap of $84.32 billion, a price-to-earnings ratio of 41.03, a P/E/G ratio of 1.43 and a beta of 0.71. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The business’s 50-day moving average is $188.86 and its 200 day moving average is $195.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.54 EPS. As a group, sell-side analysts anticipate that American Tower Co. will post 9.96 earnings per share for the current year.

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a $1.62 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.58%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Mizuho assumed coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. JPMorgan Chase & Co. cut their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, Scotiabank lowered their price target on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $221.91.

Insider Buying and Selling

In related news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the transaction, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other American Tower news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the sale, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,264 shares of company stock worth $3,458,757. Corporate insiders own 0.18% of the company’s stock.

American Tower Company 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.