Apollon Wealth Management LLC Trims Stock Position in American Tower Co. (NYSE:AMT)

Apollon Wealth Management LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,451 shares of the real estate investment trust’s stock after selling 76 shares during the period. Apollon Wealth Management LLC’s holdings in American Tower were worth $1,367,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AMT. Fortitude Family Office LLC increased its position in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in American Tower during the 3rd quarter worth about $30,000. Hara Capital LLC acquired a new position in American Tower in the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC purchased a new position in American Tower in the 3rd quarter valued at about $34,000. Finally, Activest Wealth Management boosted its stake in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Up 0.5 %

NYSE:AMT opened at $189.85 on Tuesday. The stock has a 50-day simple moving average of $188.44 and a 200 day simple moving average of $209.63. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a market capitalization of $88.71 billion, a price-to-earnings ratio of 80.10, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were issued a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.41%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analysts Set New Price Targets

AMT has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. JMP Securities assumed coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Finally, Scotiabank lowered their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $226.23.

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.