American Tower Corp /ma/ (AMT): David E Sharbutt , director of American Tower Corp /ma/ sold 5,000 shares on Jun 7, 2016. The Insider selling transaction was reported by the company on Jun 9, 2016 to the Securities and Exchange Commission. The shares were sold at $108.14 per share for a total value of $540,700.00 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on Jun 9, 2016, Raymond P Dolan (director) sold 11,319 shares at $108.00 per share price.On Jun 2, 2016, Carolyn Katz (director) sold 5,000 shares at $105.26 per share price.Also, On May 24, 2016, David E Sharbutt (director) sold 10,000 shares at $104.35 per share price.On May 17, 2016, Robert Joseph Jr Meyer (SVP, Finance & Corp Controller) sold 15,601 shares at $106.50 per share price.
American Tower Corp: On Thursday, Jun 9, 2016 heightened volatility was witnessed in American Tower Corp which led to swings in the share price. The shares opened for trading at $107.4 and hit $109.1 on the upside , eventually ending the session at $109.07, with a gain of 1.40% or 1.51 points. The heightened volatility saw the trading volume jump to 20,09,633 shares. The 52-week high of the share price is $109.1 and the company has a market cap of $46,314 M . The 52-week low of the share price is at $83.07.
Company has been under the radar of several Street Analysts.American Tower Corp is Reiterated by RBC Capital Mkts to Outperform and the brokerage firm has raised the Price Target to $ 132 from a previous price target of $128 .The Rating was issued on May 2, 2016.
American Tower Corporation is an independent owner operator and developer of communications real estate. The Company is engaged in the leasing of space on multi-tenant communications sites to wireless service providers radio and television broadcast companies wireless data and data providers government agencies and municipalities and tenants in a number of other industries. It has a portfolio of over 87000 communications sites. The Company’s continuing operations are managed through three segments: Domestic Rental and Management which includes its property interests that it leases to communications service providers and third-party tower operators in the United States; International Rental and Management which includes its interests in international communications sites and Network Development Services which offers tower-related services domestically including site acquisition zoning and permitting services and structural analysis services.