American Tower Corporation (REIT) (NYSE:AMT) reached a new 52-week high during trading on Tuesday . The stock traded as high as $142.09 and last traded at $142.09, with a volume of 1,029,688 shares traded. The stock had previously closed at $141.28.

AMT has been the subject of several recent research reports. BidaskClub raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Cowen and Company reissued a “buy” rating and set a $155.00 target price on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Deutsche Bank AG boosted their target price on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Stifel Nicolaus reissued a “buy” rating and set a $150.00 target price on shares of American Tower Corporation (REIT) in a research report on Thursday, July 6th. Finally, Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. American Tower Corporation (REIT) has an average rating of “Buy” and an average price target of $142.67.

The company has a market cap of $60.98 billion, a PE ratio of 56.84 and a beta of 0.71. The firm’s 50-day moving average price is $136.35 and its 200-day moving average price is $125.83.

American Tower Corporation (REIT) (NYSE:AMT) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by $0.75. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm earned $1.38 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. On average, equities analysts anticipate that American Tower Corporation will post $3.02 EPS for the current year.

In related news, EVP Steven C. Marshall sold 20,548 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total value of $2,772,336.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.86% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Crestwood Advisors Group LLC increased its position in American Tower Corporation (REIT) by 59.9% in the first quarter. Crestwood Advisors Group LLC now owns 5,738 shares of the real estate investment trust’s stock worth $697,000 after buying an additional 2,150 shares during the last quarter. Waldron LP acquired a new position in American Tower Corporation (REIT) during the first quarter worth about $307,000. Mn Services Vermogensbeheer B.V. increased its position in American Tower Corporation (REIT) by 3.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 11,353 shares of the real estate investment trust’s stock worth $1,290,000 after buying an additional 368 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its position in American Tower Corporation (REIT) by 7.2% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 7,427 shares of the real estate investment trust’s stock worth $903,000 after buying an additional 502 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in American Tower Corporation (REIT) by 1.1% in the first quarter. Nationwide Fund Advisors now owns 502,589 shares of the real estate investment trust’s stock worth $61,085,000 after buying an additional 5,389 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

WARNING: “American Tower Corporation (REIT) (AMT) Hits New 12-Month High at $142.09” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/22/american-tower-corporation-reit-amt-hits-new-12-month-high-at-142-09.html.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.