American Tower Corp. (NYSE:AMT) shares saw unusually-strong trading volume on Friday . Approximately 3,095,486 shares traded hands during mid-day 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 equities research analysts recently weighed in on AMT shares. Citigroup Inc. lowered their target price on shares of American Tower Corp. from $134.00 to $133.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Morgan Stanley restated a “buy” rating and issued a $125.00 target price on shares of American Tower Corp. in a report on Friday, April 29th. Jefferies Group upped their target price on shares of American Tower Corp. from $120.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Deutsche Bank AG restated a “buy” rating and issued a $117.00 target price on shares of American Tower Corp. in a report on Tuesday, May 31st. Finally, Argus upped their target price on shares of American Tower Corp. from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $120.20.

The stock has a 50 day moving average of $115.78 and a 200-day moving average of $105.00. The stock has a market cap of $48.34 billion and a price-to-earnings ratio of 70.52.

American Tower Corp. (NYSE:AMT) last issued its earnings results on Thursday, July 28th. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by $0.03. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The business’s revenue was up 22.8% on a year-over-year basis. On average, equities analysts anticipate that American Tower Corp. will post $5.72 earnings per share for the current fiscal year.

In other news, Director David E. Sharbutt sold 10,000 shares of the business’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 transaction of $1,043,500.00. Following the completion of the transaction, the director now directly owns 15,124 shares of the company’s stock, valued at $1,578,189.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolyn Katz sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $105.26, for a total transaction of $526,300.00. Following the transaction, the director now directly owns 16,584 shares of the company’s stock, valued at $1,745,631.84. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its position in American Tower Corp. by 8.1% in the fourth quarter. Advisors Asset Management Inc. now owns 30,862 shares of the real estate investment trust’s stock valued at $2,992,000 after buying an additional 2,312 shares during the last quarter. Stephens Inc. AR boosted 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 last quarter. Matarin Capital Management LLC bought a new position in American Tower Corp. during the fourth quarter valued at $2,806,000. State of Tennessee Treasury Department boosted 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 last quarter. Finally, KBC Group NV boosted its position in American Tower Corp. by 7.8% in the fourth quarter. KBC Group NV now owns 39,550 shares of the real estate investment trust’s stock valued at $3,835,000 after buying an additional 2,847 shares during the last quarter.

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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