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

Traynor Capital Management Inc. lifted its position in American Tower Co. (NYSE:AMT) by 58.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,135 shares of the real estate investment trust’s stock after acquiring an additional 1,157 shares during the period. Traynor Capital Management Inc.’s holdings in American Tower were worth $677,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Personal Capital Advisors Corp raised its position in American Tower by 1.7% in the first quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock valued at $631,000 after purchasing an additional 43 shares during the period. Lumature Wealth Partners LLC raised its position in American Tower by 40.3% in the first quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 50 shares during the period. McIlrath & Eck LLC raised its position in American Tower by 18.5% in the fourth quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 52 shares during the period. Golden State Equity Partners raised its position in American Tower by 7.0% in the first quarter. Golden State Equity Partners now owns 806 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 53 shares during the period. Finally, GeoWealth Management LLC raised its position in American Tower by 17.8% in the first quarter. GeoWealth Management LLC now owns 358 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 54 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of NYSE AMT traded up $0.21 during trading hours on Thursday, reaching $197.59. The stock had a trading volume of 2,168,358 shares, compared to its average volume of 2,337,216. The firm has a market cap of $92.15 billion, a price-to-earnings ratio of 62.14, a PEG ratio of 1.34 and a beta of 0.68. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The firm has a 50-day moving average of $196.21 and a 200-day moving average of $192.09.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $2.34 earnings per share. Equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a $1.62 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.28%. American Tower’s dividend payout ratio (DPR) is presently 213.84%.

Analyst Ratings Changes

AMT has been the topic of several research analyst reports. HSBC initiated coverage on American Tower in a report on Thursday, December 14th. They issued a “buy” rating and a $245.00 price objective on the stock. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BMO Capital Markets cut their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. JPMorgan Chase & Co. cut their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Finally, Barclays upped their price target on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.55.

Insider Activity at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the sale, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.24% 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.