Price Target Update on American Tower Corporation (REIT) (NYSE:AMT)

American Tower Corporation (REIT) (NYSE:AMT) stock is expected to deviate a maximum of $7.86 from the average target price of $119.54 for the short term period. 13 Street Experts have initiated coverage on the stock with the most promising target being $135 and the most muted being $110.

Other Equity analysts have also commented 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.

American Tower Corporation (REIT) (NYSE:AMT): stock turned positive on Thursday. Though the stock opened at $110, the bulls momentum made the stock top out at $111.47 level for the day. The stock recorded a low of $109.53 and closed the trading day at $111.47, in the green by 1.89%. The total traded volume for the day was 1,842,700. The stock had closed at $109.4 in the previous days trading.

The company shares have rallied 15.47% from its 1 Year high price. On Jun 22, 2016, the shares registered one year high at $109.82 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $106.61 and the 200 Day Moving Average price is recorded at $99.16. 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.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.