American Tower Corp. (NYSE:AMT)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $114.37, but opened at $114.62. American Tower Corp. shares last traded at $115.19, with a volume of 882,225 shares traded.

AMT has been the subject of several research analyst reports. Jefferies Group boosted their price objective on American Tower Corp. from $120.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, July 29th. BTIG Research boosted 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. Citigroup Inc. decreased their price objective on American Tower Corp. from $134.00 to $133.00 and set a “buy” rating for the company in a research report on Wednesday, August 10th. Argus boosted 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, August 17th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $117.00 target price on shares of American Tower Corp. in a research note on Tuesday, May 31st. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $120.20.

The stock has a market cap of $49.02 billion and a PE ratio of 71.52. The company’s 50-day moving average price is $115.79 and its 200 day moving average price is $105.57.

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

In related news, Director Raymond P. Dolan sold 11,319 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $108.00, for a total transaction of $1,222,452.00. Following the completion of the sale, the director now owns 15,604 shares in the company, valued at $1,685,232. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Katz sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $105.26, for a total value of $526,300.00. Following the sale, the director now owns 16,584 shares of the company’s stock, valued at approximately $1,745,631.84. The disclosure for this sale can be found here.

A number of large investors recently made changes to their positions in the company. American International Group Inc. increased its stake in shares of American Tower Corp. by 1.1% in the fourth quarter. American International Group Inc. now owns 188,739 shares of the real estate investment trust’s stock valued at $18,298,000 after buying an additional 2,141 shares during the period. KBC Group NV increased its stake in shares of 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 period. Matarin Capital Management LLC bought a new stake in shares of American Tower Corp. during the fourth quarter valued at about $2,806,000. Stephens Inc. AR increased its stake in shares of 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, State of Tennessee Treasury Department increased its stake in shares of 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.

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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