ValuEngine Upgrades American Tower Corporation (REIT) (AMT) to “Buy”

American Tower Corporation (REIT) (NYSE:AMT) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

AMT has been the topic of several other reports. Citigroup Inc. upped their price target on shares of American Tower Corporation (REIT) from $142.00 to $167.00 and gave the company a “buy” rating in a report on Monday, August 28th. Zacks Investment Research upgraded shares of American Tower Corporation (REIT) from a “sell” rating to a “hold” rating and set a $153.00 price target on the stock in a report on Thursday, July 27th. Royal Bank Of Canada reiterated a “buy” rating and set a $153.00 price target on shares of American Tower Corporation (REIT) in a report on Friday, September 1st. Deutsche Bank AG upped their price target on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a report on Friday, July 14th. Finally, KeyCorp set a $156.00 price target on shares of American Tower Corporation (REIT) and gave the company an “overweight” rating in a report on Wednesday, November 1st. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. American Tower Corporation (REIT) has an average rating of “Buy” and an average price target of $155.85.

American Tower Corporation (NYSE:AMT) opened at $150.54 on Friday. The company has a market cap of $64,559.98, a PE ratio of 23.30, a P/E/G ratio of 1.77 and a beta of 0.74. American Tower Corporation has a fifty-two week low of $99.72 and a fifty-two week high of $155.28. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61.

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In other news, EVP Amit Sharma sold 20,747 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $139.67, for a total value of $2,897,733.49. Following the completion of the sale, the executive vice president now owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $145.89, for a total transaction of $4,960,260.00. Following the completion of the sale, the chairman now directly owns 304,707 shares of the company’s stock, valued at approximately $44,453,704.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,747 shares of company stock valued at $16,054,543. 0.86% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. CIBC World Markets Inc. lifted its position in shares of American Tower Corporation (REIT) by 100.6% in the 2nd quarter. CIBC World Markets Inc. now owns 21,261 shares of the real estate investment trust’s stock worth $2,813,000 after purchasing an additional 10,663 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of American Tower Corporation (REIT) by 33.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 81,470 shares of the real estate investment trust’s stock worth $10,780,000 after purchasing an additional 20,222 shares during the period. State of Tennessee Treasury Department lifted its position in shares of American Tower Corporation (REIT) by 9.7% in the 2nd quarter. State of Tennessee Treasury Department now owns 349,736 shares of the real estate investment trust’s stock worth $46,277,000 after purchasing an additional 30,885 shares during the period. BTC Capital Management Inc. lifted its position in shares of American Tower Corporation (REIT) by 1.3% in the 2nd quarter. BTC Capital Management Inc. now owns 34,728 shares of the real estate investment trust’s stock worth $4,592,000 after purchasing an additional 453 shares during the period. Finally, Motco lifted its position in shares of American Tower Corporation (REIT) by 6.8% in the 2nd quarter. Motco now owns 3,112 shares of the real estate investment trust’s stock worth $412,000 after purchasing an additional 199 shares during the period. 92.01% of the stock is owned by hedge funds and other institutional investors.

American Tower Corporation (REIT) Company Profile

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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