American Tower Corporation (REIT) (NYSE:AMT) had its price target boosted by Citigroup Inc. from $142.00 to $167.00 in a report issued on Monday. They currently have a buy rating on the real estate investment trust’s stock.

AMT has been the subject of a number of other research reports. BidaskClub upgraded shares of American Tower Corporation (REIT) from a hold rating to a buy rating in a research report on Saturday. Zacks Investment Research upgraded shares of American Tower Corporation (REIT) from a hold rating to a buy rating and set a $152.00 target price for the company in a research report on Thursday, August 3rd. Argus upped their target price on shares of American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a buy rating in a research report on Thursday, August 3rd. Cowen and Company restated a buy rating and set a $155.00 target price on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Finally, Deutsche Bank AG upped their target price on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a buy rating in a research report on Friday, July 14th. Thirteen analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and a consensus target price of $144.33.

American Tower Corporation (NYSE:AMT) opened at 145.78 on Monday. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $146.12. The firm has a market capitalization of $62.57 billion, a P/E ratio of 58.31 and a beta of 0.71. The firm’s 50-day moving average is $137.50 and its 200 day moving average is $126.63.

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

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In other American Tower Corporation (REIT) news, EVP Amit Sharma sold 20,747 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $139.67, for a total transaction of $2,897,733.49. Following the completion of the transaction, the executive vice president now owns 101,605 shares in the company, valued at $14,191,170.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven C. Marshall sold 20,548 shares of the stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total transaction of $2,772,336.16. The disclosure for this sale can be found here. Insiders have sold 46,295 shares of company stock valued at $6,387,520 in the last quarter. 0.86% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in AMT. Acadian Asset Management LLC raised its position in American Tower Corporation (REIT) by 296.4% in the first quarter. Acadian Asset Management LLC now owns 4,761 shares of the real estate investment trust’s stock valued at $579,000 after buying an additional 3,560 shares during the period. Janney Montgomery Scott LLC raised its position in American Tower Corporation (REIT) by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 43,143 shares of the real estate investment trust’s stock valued at $5,244,000 after buying an additional 7,152 shares during the period. Telos Capital Management Inc. raised its position in American Tower Corporation (REIT) by 17.0% in the first quarter. Telos Capital Management Inc. now owns 13,033 shares of the real estate investment trust’s stock valued at $1,584,000 after buying an additional 1,897 shares during the period. Wellington Management Group LLP raised its position in 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 period. Finally, Israel Discount Bank of New York acquired a new position in American Tower Corporation (REIT) during the first quarter valued at approximately $640,000. Institutional investors and hedge funds own 92.08% 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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