Apollon Wealth Management LLC Has $1.75 Million Position in American Tower Co. (NYSE:AMT)

Apollon Wealth Management LLC reduced its position in shares of American Tower Co. (NYSE:AMT) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,527 shares of the real estate investment trust’s stock after selling 255 shares during the quarter. Apollon Wealth Management LLC’s holdings in American Tower were worth $1,750,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMT. Nations Financial Group Inc. IA ADV increased its stake in shares of American Tower by 5.7% in the third quarter. Nations Financial Group Inc. IA ADV now owns 5,794 shares of the real estate investment trust’s stock worth $1,347,000 after acquiring an additional 315 shares during the last quarter. Cottonwood Capital Advisors LLC acquired a new position in shares of American Tower in the third quarter worth $214,000. Jag Capital Management LLC increased its stake in shares of American Tower by 2.4% in the third quarter. Jag Capital Management LLC now owns 10,449 shares of the real estate investment trust’s stock worth $2,430,000 after acquiring an additional 243 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of American Tower in the third quarter worth $534,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of American Tower in the third quarter worth $125,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Up 0.7 %

NYSE AMT opened at $195.16 on Thursday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a 50-day simple moving average of $224.82 and a 200 day simple moving average of $210.66. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The stock has a market cap of $91.20 billion, a PE ratio of 82.35, a PEG ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the business posted $2.58 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. On average, research analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is presently 273.42%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AMT shares. BMO Capital Markets dropped their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Scotiabank lowered their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, Mizuho increased their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.85.

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.