American Tower (NYSE:AMT) Stock Analysis and Investor Activity

Traynor Capital Management Inc. recently 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, with holdings worth $608,000.

Additionally, a number of other large investors have also bought and sold shares of AMT, including Northwest Investment Counselors LLC, Gold Investment Management Ltd., Thompson Investment Management Inc., Private Wealth Management Group LLC, and SOA Wealth Advisors LLC. Currently, 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower’s stock performance has been solid, with shares opening at $196.45 on Tuesday. The company has a market cap of $91.74 billion, a price-to-earnings ratio of 44.45, and a dividend yield of 3.30%. The firm’s recent quarterly earnings data showed a revenue increase of 2.4% year-over-year.

In terms of insider activity, EVP Sanjay Goel and Director Robert D. Hormats recently sold shares of AMT, with Goel selling 3,504 shares at an average price of $200.36 and Hormats selling 700 shares at $183.50. Analysts have issued various ratings on the stock, with a consensus rating of “Moderate Buy” and a target price of $220.91.

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. The company’s strong performance and strategic positioning in the market make it a compelling investment opportunity for investors.