BidaskClub upgraded shares of American Tower Corporation (REIT) (NYSE:AMT) from a hold rating to a buy rating in a report published on Saturday.

A number of other equities research analysts have also recently commented on AMT. Royal Bank Of Canada upped their target price on shares of American Tower Corporation (REIT) from $134.00 to $145.00 and gave the company an outperform rating in a report on Friday, April 28th. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a hold rating to a buy rating and set a $142.00 price target for the company in a report on Thursday, May 4th. Citigroup Inc. cut shares of American Tower Corporation (REIT) to an outperform rating and set a $147.00 price target for the company. in a report on Monday, June 12th. Raymond James Financial, Inc. reissued an outperform rating on shares of American Tower Corporation (REIT) in a report on Monday, June 12th. Finally, Stifel Nicolaus reissued a buy rating and set a $150.00 price target on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. Thirteen equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average target price of $142.67.

American Tower Corporation (NYSE:AMT) traded up 0.31% during mid-day trading on Friday, reaching $144.24. The company’s stock had a trading volume of 1,253,977 shares. American Tower Corporation has a one year low of $99.72 and a one year high of $146.09. The stock has a 50-day moving average price of $137.50 and a 200-day moving average price of $126.63. The company has a market capitalization of $61.90 billion, a price-to-earnings ratio of 57.70 and a beta of 0.71.

American Tower Corporation (REIT) (NYSE:AMT) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by $0.75. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company posted $1.38 earnings per share. American Tower Corporation (REIT)’s quarterly revenue was up 15.3% on a year-over-year basis. Equities research analysts forecast that American Tower Corporation will post $3.02 EPS for the current year.

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In other American Tower Corporation (REIT) news, EVP Steven C. Marshall sold 20,548 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total transaction of $2,772,336.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Amit Sharma sold 20,747 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $139.67, for a total transaction of $2,897,733.49. Following the transaction, the executive vice president now owns 101,605 shares in the company, valued at $14,191,170.35. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of AMT. Janus Henderson Group PLC raised its position in shares of American Tower Corporation (REIT) by 1,886.3% in the second quarter. Janus Henderson Group PLC now owns 7,468,416 shares of the real estate investment trust’s stock valued at $988,214,000 after buying an additional 7,092,413 shares during the last quarter. Wellington Management Group LLP raised its position in shares of American Tower Corporation (REIT) by 8.4% in the first quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock valued at $2,648,146,000 after buying an additional 1,679,615 shares during the last quarter. American Century Companies Inc. raised its position in shares of American Tower Corporation (REIT) by 60.8% in the first quarter. American Century Companies Inc. now owns 3,986,977 shares of the real estate investment trust’s stock valued at $484,577,000 after buying an additional 1,507,172 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of American Tower Corporation (REIT) by 823.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,606,119 shares of the real estate investment trust’s stock valued at $212,525,000 after buying an additional 1,432,155 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of American Tower Corporation (REIT) by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,561,482 shares of the real estate investment trust’s stock valued at $3,349,823,000 after buying an additional 1,008,946 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

About American Tower Corporation (REIT)

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

Analyst Recommendations for American Tower Corporation (REIT) (NYSE:AMT)

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