American Tower Corp. (NYSE:AMT) shares gapped down before the market opened on Monday . The stock had previously closed at $113.43, but opened at $113.82. American Tower Corp. shares last traded at $115.09, with a volume of 1,747,300 shares traded.

Several analysts recently issued reports on AMT shares. Jefferies Group reaffirmed a “buy” rating on shares of American Tower Corp. in a report on Saturday, August 6th. BTIG Research upped their price target on shares of American Tower Corp. to $140.00 in a report on Tuesday, July 19th. They noted that the move was a valuation call. Deutsche Bank AG reaffirmed a “buy” rating and issued a $117.00 price target on shares of American Tower Corp. in a report on Tuesday, May 31st. Argus upped their price target on shares of American Tower Corp. from $120.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Finally, Citigroup Inc. upped their price target on shares of American Tower Corp. from $121.00 to $134.00 and gave the company a “buy” rating in a report on Monday, July 11th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $120.20.

The firm has a market capitalization of $48.97 billion and a P/E ratio of 71.44. The firm’s 50 day moving average price is $115.67 and its 200 day moving average price is $106.77.

American Tower Corp. (NYSE:AMT) last issued its earnings results 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 company earned $1.44 billion during the quarter, compared to analysts’ expectations of $1.44 billion. American Tower Corp.’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 earnings per share. On average, analysts anticipate that American Tower Corp. will post $5.72 earnings per share for the current fiscal year.

In related news, Director Raymond P. Dolan sold 11,319 shares of the firm’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $108.00, for a total value of $1,222,452.00. Following the completion of the transaction, the director now directly owns 15,604 shares of the company’s stock, valued at $1,685,232. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert Joseph Meyer, Jr. sold 3,106 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 21,386 shares of the company’s stock, valued at $2,324,230.48. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in American Tower Corp. stock. Schwab Charles Investment Management Inc. increased its position in shares of American Tower Corp. (NYSE:AMT) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,108,097 shares of the real estate investment trust’s stock after buying an additional 48,520 shares during the period. Schwab Charles Investment Management Inc. owned 0.26% of American Tower Corp. worth $107,431,000 as of its most recent SEC filing.

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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