Shares of American Tower Corporation (REIT) (AMT) Sees Large Outflow of Money

American Tower Corporation (REIT) (AMT) :The total money flow, which is calculated as the dollar value of composite uptick minus downtick trades was negative ($9.12 million) and the uptick to downtick ratio was 0.8. The transaction value on upticks was $37.48 million and on downticks, the transaction value was $46.6 million. The transaction value of block trades during downticks was $11.13 million. The money flow was negative ($11.13 million), indicating the traders were booking profit on the price strength. American Tower Corporation (REIT) (AMT) rose $0.36 at $117.73, during intraday Wednesday , a rise of 0.31% over the previous days close.


Also, Citigroup maintains their rating on the shares of American Tower Corporation (REIT) (NYSE:AMT). The current rating of the shares is Buy. Equity Analysts at the Firm raises the price target to $134 per share from $121 per share. The rating by the firm was issued on July 13, 2016.

American Tower Corporation (REIT) (NYSE:AMT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $117.36 and $117.10 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $117.84. The buying momentum continued till the end and the stock did not give up its gains. It closed at $117.73, notching a gain of 0.31% for the day. The total traded volume was 1,627,386 . The stock had closed at $117.37 on the previous day.

The stock has recorded a 20-day Moving Average of 3.96% and the 50-Day Moving Average is 8.1%. In a related news, The Securities and Exchange Commission has divulged that Disanto Edmund, officer (EVP, Chief Admin Ofr, GC & Sec) of American Tower Corp /Ma/, had unloaded 21,087 shares at an average price of $116.71 in a transaction dated on July 14, 2016. The total value of the transaction was worth $2,461,064.

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.

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