American Tower Corporation (REIT) (NYSE:AMT)‘s stock had its “buy” rating reissued by stock analysts at Cowen and Company in a research report issued on Tuesday.

AMT has been the subject of a number of other research reports. Zacks Investment Research cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. UBS AG raised their target price on shares of American Tower Corporation (REIT) from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday, September 11th. BidaskClub cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Argus raised their target price on shares of American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Citigroup Inc. raised their target price on shares of American Tower Corporation (REIT) from $142.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $148.58.

American Tower Corporation (NYSE AMT) traded down 0.94% on Tuesday, hitting $137.44. 750,506 shares of the stock traded hands. American Tower Corporation has a 52 week low of $99.72 and a 52 week high of $148.71. The stock has a market cap of $58.99 billion, a price-to-earnings ratio of 54.98 and a beta of 0.69. The firm’s 50 day moving average is $140.21 and its 200 day moving average is $134.57.

American Tower Corporation (REIT) (NYSE:AMT) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.75). The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 EPS. Equities analysts anticipate that American Tower Corporation will post $3.04 earnings per share for the current year.

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In related news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $139.40, for a total transaction of $4,739,600.00. Following the transaction, the chairman now directly owns 304,707 shares of the company’s stock, valued at $42,476,155.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $143.49, for a total transaction of $717,450.00. Following the transaction, the director now directly owns 17,758 shares in the company, valued at $2,548,095.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,747 shares of company stock worth $16,054,543. 0.86% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. CIBC World Markets Inc. increased its position in American Tower Corporation (REIT) by 100.6% during the second quarter. CIBC World Markets Inc. now owns 21,261 shares of the real estate investment trust’s stock worth $2,813,000 after acquiring an additional 10,663 shares during the period. Oppenheimer & Co. Inc. increased its position in American Tower Corporation (REIT) by 33.0% during the second quarter. Oppenheimer & Co. Inc. now owns 81,470 shares of the real estate investment trust’s stock worth $10,780,000 after acquiring an additional 20,222 shares during the period. State of Tennessee Treasury Department increased its position in American Tower Corporation (REIT) by 9.7% during the second quarter. State of Tennessee Treasury Department now owns 349,736 shares of the real estate investment trust’s stock worth $46,277,000 after acquiring an additional 30,885 shares during the period. BTC Capital Management Inc. increased its position in American Tower Corporation (REIT) by 1.3% during the second quarter. BTC Capital Management Inc. now owns 34,728 shares of the real estate investment trust’s stock worth $4,592,000 after acquiring an additional 453 shares during the period. Finally, Motco increased its position in American Tower Corporation (REIT) by 6.8% during the second quarter. Motco now owns 3,112 shares of the real estate investment trust’s stock worth $412,000 after acquiring an additional 199 shares during the period. 92.09% of the stock is currently owned by institutional investors and hedge funds.

About American Tower Corporation (REIT)

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

Analyst Recommendations for American Tower Corporation (REIT) (NYSE:AMT)

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