Traynor Capital Management Inc. Has $608,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Traynor Capital Management Inc. trimmed its stake in American Tower Co. (NYSE:AMT) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,078 shares of the real estate investment trust’s stock after selling 57 shares during the quarter. Traynor Capital Management Inc.’s holdings in American Tower were worth $608,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AMT. Northwest Investment Counselors LLC acquired a new position in shares of American Tower during the first quarter valued at about $25,000. Gold Investment Management Ltd. acquired a new position in shares of American Tower during the fourth quarter valued at about $28,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower during the fourth quarter valued at about $29,000. Private Wealth Management Group LLC acquired a new position in shares of American Tower during the fourth quarter valued at about $31,000. Finally, SOA Wealth Advisors LLC. acquired a new position in shares of American Tower during the first quarter valued at about $30,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of AMT stock opened at $196.45 on Tuesday. The firm has a market cap of $91.74 billion, a price-to-earnings ratio of 44.45, a P/E/G ratio of 1.39 and a beta of 0.79. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The firm’s 50-day simple moving average is $186.45 and its two-hundred day simple moving average is $195.33.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the firm posted $2.54 EPS. The business’s revenue was up 2.4% on a year-over-year basis. As a group, equities analysts forecast that American Tower Co. will post 10.03 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

Insider Activity

In related news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other American Tower news, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction that occurred 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 owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. BMO Capital Markets reduced their price objective on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. Barclays dropped their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Scotiabank dropped 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 research report on Wednesday, May 1st. Finally, Morgan Stanley raised their price target on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.91.

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.