American Tower Corporation (REIT) (NYSE:AMT) has tumbled 1.7% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 2.82% in the last four weeks. The stocks have underperformed the S&P 500 by 0.52% during the past week but American Tower Corporation (REIT) (NYSE:AMT) it has outperformed the index in 4 weeks by 1.88%.
American Tower Corporation (REIT) (NYSE:AMT): The stock opened at $107.60 on Friday but the bulls could not build on the opening and the stock topped out at $107.71 for the day. The stock traded down to $106.50 during the day, due to lack of any buying support eventually closed down at $106.94 with a loss of -0.70% for the day. The stock had closed at $107.69 on the previous day. The total traded volume was 2,267,249 shares.
The company shares have rallied 11.64% from its 1 Year high price. On Jun 13, 2016, the shares registered one year high at $109.80 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $106.27 and the 200 Day Moving Average price is recorded at $98.95.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Disanto Edmund, officer (EVP, Chief Admin Ofr, GC & Sec) of American Tower Corp /Ma/, had unloaded 41,875 shares at an average price of $108.95 in a transaction dated on June 10, 2016. The total value of the transaction was worth $4,562,281.
Many analysts have stated their opinion on the company shares. Brokerage firm Citigroup maintains its rating on American Tower Corporation (REIT) (NYSE:AMT). As per the latest information, the brokerage house raises the price target to $121 per share from a prior target of $108. The shares have been rated Buy. The rating by the firm was issued on June 16, 2016. Currently the company Insiders own 0.95% of American Tower Corporation (REIT) shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -25.89% . Institutional Investors own 96.49% of American Tower Corporation (REIT) shares. During last six month period, the net percent change held by insiders has seen a change of -25.89%.
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 87,000 communications sites. The Companys 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.