Shares of American Tower Corporation (REIT) (NYSE:AMT) hit a new 52-week high during trading on Tuesday after Citigroup raised their price target on the stock from $142.00 to $167.00. Citigroup currently has a buy rating on the stock. American Tower Corporation (REIT) traded as high as $146.14 and last traded at $146.12, with a volume of 697,093 shares. The stock had previously closed at $145.78.

Other equities analysts have also issued research reports about the company. BidaskClub raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Cowen and Company reissued a “buy” rating and issued a $155.00 target price on shares of American Tower Corporation (REIT) in a research note on Wednesday, July 19th. Deutsche Bank AG increased their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Stifel Nicolaus reissued a “buy” rating and issued a $150.00 target price on shares of American Tower Corporation (REIT) in a research note on Thursday, July 6th. Finally, Zacks Investment Research raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a research note on Thursday, May 4th. Thirteen research analysts have rated the stock with a buy rating, American Tower Corporation (REIT) presently has a consensus rating of “Buy” and an average price target of $144.33.

In related news, EVP Amit Sharma sold 20,747 shares of the 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 completion of the transaction, the executive vice president now directly owns 101,605 shares in the company, valued at $14,191,170.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Steven C. Marshall sold 20,548 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total value of $2,772,336.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,295 shares of company stock valued at $6,387,520. 0.86% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in American Tower Corporation (REIT) by 3.2% in the second quarter. Vanguard Group Inc. now owns 28,442,502 shares of the real estate investment trust’s stock worth $3,763,512,000 after buying an additional 881,020 shares during the last quarter. Wellington Management Group LLP boosted its stake 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 worth $2,648,146,000 after buying an additional 1,679,615 shares during the last quarter. Janus Henderson Group PLC boosted its stake in 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 worth $988,214,000 after buying an additional 7,092,413 shares during the last quarter. Northern Trust Corp boosted its stake in American Tower Corporation (REIT) by 9.2% in the second quarter. Northern Trust Corp now owns 6,566,346 shares of the real estate investment trust’s stock worth $868,858,000 after buying an additional 550,608 shares during the last quarter. Finally, Edgewood Management LLC boosted its stake in American Tower Corporation (REIT) by 2.6% in the first quarter. Edgewood Management LLC now owns 5,925,839 shares of the real estate investment trust’s stock worth $720,226,000 after buying an additional 151,527 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

The stock has a market capitalization of $62.74 billion, a price-to-earnings ratio of 58.48 and a beta of 0.71. The firm has a 50 day moving average of $137.50 and a 200-day moving average of $126.63.

American Tower Corporation (REIT) (NYSE:AMT) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share 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 company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company earned $1.38 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. Equities analysts predict that American Tower Corporation will post $3.02 earnings per share for the current year.

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American Tower Corporation (REIT) Company Profile

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.

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