American Tower Corporation (REIT) (AMT) : 14 analysts are covering American Tower Corporation (REIT) (AMT) and their average rating on the stock is 1.21, which is read as a Strong Buy. 12 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. American Tower Corporation (REIT) (AMT) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
American Tower Corporation (REIT) (AMT) stock is expected to deviate a maximum of $9.09 from the average target price of $125.62 for the short term period. 13 Street Experts have initiated coverage on the stock with the most promising target being $138 and the most muted being $110.
For the current week, the company shares have a recommendation consensus of Buy. American Tower Corporation (REIT) (NYSE:AMT): The stock opened at $116.22 on Thursday but the bulls could not build on the opening and the stock topped out at $116.67 for the day. The stock traded down to $115.60 during the day, due to lack of any buying support eventually closed down at $115.89 with a loss of -0.30% for the day. The stock had closed at $116.24 on the previous day. The total traded volume was 1,070,836 shares.
In a related news,The director officer (Chairman, President and CEO) of American Tower Corp /Ma/, Taiclet James D Jr sold 40,625 shares at $117 on July 18, 2016. The Insider selling transaction had a total value worth of $4,753,125. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.