American Tower Corporation $AMT Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its stake in shares of American Tower Corporation (NYSE:AMT) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,845 shares of the real estate investment trust’s stock after acquiring an additional 252 shares during the period. Apollon Wealth Management LLC’s holdings in American Tower were worth $1,734,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cross Staff Investments Inc grew its holdings in American Tower by 4.5% during the second quarter. Cross Staff Investments Inc now owns 6,381 shares of the real estate investment trust’s stock worth $1,410,000 after acquiring an additional 277 shares during the period. Trust Co. of Toledo NA OH grew its holdings in American Tower by 1.6% during the second quarter. Trust Co. of Toledo NA OH now owns 8,653 shares of the real estate investment trust’s stock worth $1,912,000 after acquiring an additional 135 shares during the period. Applied Capital LLC FL grew its holdings in American Tower by 2.9% during the second quarter. Applied Capital LLC FL now owns 4,761 shares of the real estate investment trust’s stock worth $1,052,000 after acquiring an additional 136 shares during the period. Aberdeen Group plc grew its holdings in American Tower by 3.9% during the second quarter. Aberdeen Group plc now owns 699,188 shares of the real estate investment trust’s stock worth $152,364,000 after acquiring an additional 26,220 shares during the period. Finally, PDS Planning Inc grew its holdings in American Tower by 56.4% during the second quarter. PDS Planning Inc now owns 4,481 shares of the real estate investment trust’s stock worth $990,000 after acquiring an additional 1,616 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Performance

NYSE:AMT opened at $183.03 on Tuesday. The company’s 50-day moving average price is $198.16 and its 200-day moving average price is $210.57. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a market cap of $85.70 billion, a P/E ratio of 66.56, a P/E/G ratio of 1.13 and a beta of 0.86. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping 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 last year, the firm posted $2.79 earnings per share. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. American Tower’s payout ratio is 247.27%.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on AMT shares. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Jefferies Financial Group dropped their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a report on Monday. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Finally, Barclays raised their price objective on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $241.06.

About American Tower

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.