American Tower Co. (NYSE:AMT) Shares Sold by Traynor Capital Management Inc.

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the 1st quarter worth approximately $25,000. Gold Investment Management Ltd. acquired a new stake in shares of American Tower during the 4th quarter worth approximately $28,000. Thompson Investment Management Inc. acquired a new stake in shares of American Tower during the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC acquired a new stake in shares of American Tower during the 4th quarter worth approximately $31,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in shares of American Tower during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.8 %

NYSE AMT opened at $196.45 on Tuesday. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The business’s fifty day simple moving average is $186.45 and its 200-day simple moving average is $195.33. The firm has a market cap of $91.74 billion, a PE ratio of 44.45, a P/E/G ratio of 1.39 and a beta of 0.79.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the prior year, the firm earned $2.54 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, equities analysts anticipate that American Tower Co. will post 10.03 earnings per share for the current year.

American Tower Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Morgan Stanley increased their target price on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. BMO Capital Markets decreased their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. decreased their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average target price of $220.91.

Insider Transactions at American Tower

In other news, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction 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 transaction, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the sale, the director now directly owns 7,332 shares of the company’s stock, valued at $1,345,422. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

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.