American Tower Corporation (REIT) (AMT) : Traders are bullish on American Tower Corporation (REIT) (AMT) as it has outperformed the S&P 500 by a margin of 1.95% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.26%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.87% in the last 1 week, and is up 8.84% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
American Tower Corporation (REIT) (NYSE:AMT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $117.66 and $117.33 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $118.26. The buying momentum continued till the end and the stock did not give up its gains. It closed at $117.84, notching a gain of 0.25% for the day. The total traded volume was 1,511,223 . The stock had closed at $117.55 on the previous day.
The stock has recorded a 20-day Moving Average of 3.31% and the 50-Day Moving Average is 7.76%. American Tower Corporation is up 13.66% in the last 3-month period. Year-to-Date the stock performance stands at 22.74%.
American Tower Corporation is an independent owner, operator and developer of communications real estate. The Company is engaged in the leasing of space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies, and municipalities and tenants in a number of other industries. It has a portfolio of over 87,000 communications sites. The Companys continuing operations are managed through three segments: Domestic Rental and Management, which includes its property interests that it leases to communications service providers and third-party tower operators in the United States; International Rental and Management, which includes its interests in international communications sites, and Network Development Services, which offers tower-related services domestically, including site acquisition, zoning and permitting services and structural analysis services.