American Tower Corporation (REIT) (AMT) has risen sharply, recording gains of 1.91% in the past 4 weeks. However, the stock has corrected -1.76% in the past 1 week, providing a good buying opportunity on dips. American Tower Corporation (REIT) (AMT) : During the past 4 weeks, traders have been relatively bearish on American Tower Corporation (REIT) (AMT), hence the stock is down -1.4% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -1.69% relative to the S&P 500.
The stock has recorded a 20-day Moving Average of 0.03% and the 50-Day Moving Average is 4.74%. American Tower Corporation is up 10.93% in the last 3-month period. Year-to-Date the stock performance stands at 20.59%.
American Tower Corporation (REIT) (NYSE:AMT): On Fridays trading session , Opening price of the stock was $116.26 with an intraday high of $116.451. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $115.56. However, the stock managed to close at $115.77, a loss of 0.75% for the day. On the previous day, the stock had closed at $116.65. The total traded volume of the day was 2,296,817 shares.
Also, Major Brokerage house, Jefferies maintains its ratings on American Tower Corporation (REIT) (NYSE:AMT). In the latest research report, Jefferies raises the target price from $120 per share to $136 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on July 29, 2016.
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.