American Tower Corp. (NYSE:AMT) saw an uptick in trading volume on Friday . 3,095,486 shares changed hands during trading, an increase of 84% from the previous session’s volume of 1,679,955 shares.The stock last traded at $113.61 and had previously closed at $114.35.

A number of research firms have recently weighed in on AMT. Argus lifted their price objective on American Tower Corp. from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup Inc. lowered their price objective on American Tower Corp. from $134.00 to $133.00 and set a “buy” rating on the stock in a research report on Wednesday, August 10th. Jefferies Group reaffirmed a “buy” rating on shares of American Tower Corp. in a research report on Saturday, August 6th. BTIG Research lifted their price objective on American Tower Corp. to $140.00 in a research report on Tuesday, July 19th. They noted that the move was a valuation call. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $117.00 price objective on shares of American Tower Corp. in a research report on Tuesday, May 31st. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. American Tower Corp. has an average rating of “Buy” and an average target price of $120.20.

The company’s 50-day moving average is $115.78 and its 200 day moving average is $105.00. The firm has a market cap of $48.34 billion and a P/E ratio of 70.52.

American Tower Corp. (NYSE:AMT) last issued its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.33 EPS for the quarter, missing the consensus estimate of $1.36 by $0.03. The business earned $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 earnings per share. On average, analysts expect that American Tower Corp. will post $5.72 earnings per share for the current fiscal year.

In other news, SVP Robert Joseph Meyer, Jr. sold 3,106 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $108.68, for a total value of $337,560.08. Following the transaction, the senior vice president now owns 21,386 shares in the company, valued at $2,324,230.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David E. Sharbutt sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $104.35, for a total value of $1,043,500.00. Following the completion of the transaction, the director now owns 15,124 shares in the company, valued at approximately $1,578,189.40. The disclosure for this sale can be found here.

Several institutional investors have recently added to or reduced their stakes in AMT. Marshall Wace LLP increased its position in American Tower Corp. by 2,089.5% in the fourth quarter. Marshall Wace LLP now owns 58,700 shares of the real estate investment trust’s stock valued at $5,691,000 after buying an additional 56,019 shares during the period. Schwab Charles Investment Management Inc. increased its position in American Tower Corp. by 4.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,108,097 shares of the real estate investment trust’s stock valued at $107,431,000 after buying an additional 48,520 shares during the period. State of Tennessee Treasury Department increased its position in American Tower Corp. by 50.4% in the fourth quarter. State of Tennessee Treasury Department now owns 134,450 shares of the real estate investment trust’s stock valued at $13,035,000 after buying an additional 45,050 shares during the period. Stephens Inc. AR increased its position in American Tower Corp. by 1,211.2% in the fourth quarter. Stephens Inc. AR now owns 43,951 shares of the real estate investment trust’s stock valued at $4,261,000 after buying an additional 40,599 shares during the period. Finally, Matarin Capital Management LLC purchased a new position in American Tower Corp. during the fourth quarter valued at $2,806,000.

American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.

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