American Tower Corp (AMT) was Initiated by SunTrust to “Buy” and the brokerage firm has set the Price Target at $128. SunTrust advised their investors in a research report released on Sep 13, 2016.
On the company’s financial health, American Tower Corp reported $1.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.28. The company had revenue of $1442.00 million for the quarter, compared to analysts expectations of $1432.38 million. The company’s revenue was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS.
American Tower Corp opened for trading at $109.45 and hit $111.83 on the upside on Monday, eventually ending the session at $111.27, with a gain of 0.98% or 1.08 points. The heightened volatility saw the trading volume jump to 2,629,052 shares. Company has a market cap of $47,344 M.
In a different news, on Sep 8, 2016, Samme L Thompson (director) sold 1,430 shares at $116.00 per share price. According to the SEC, on Sep 8, 2016, Carolyn Katz (director) sold 5,000 shares at $116.28 per share price. On Aug 19, 2016, Pamela D A Reeve (director) sold 10,000 shares at $113.38 per share price, according to the Form-4 filing with the securities and exchange commission.
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.