Analyst Rating Update on American Tower Corporation (REIT) (AMT)

American Tower Corporation (REIT) (NYSE:AMT) : Zacks Investment Research ranks American Tower Corporation (REIT) (NYSE:AMT) as 3, which is a Hold recommendation. 12 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 1 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 15 research analysts is 1.27, which indicates as a Strong Buy.

American Tower Corporation (REIT) (NYSE:AMT) : 13 Wall Street analysts covering American Tower Corporation (REIT) (NYSE:AMT) believe that the average level the stock could reach for the short term is $119.54. The maximum price target given is $135 and the minimum target for short term is around $110, hence the standard deviation is calculated at $7.86.

For the current week, the company shares have a recommendation consensus of Buy. Also, Equity Analysts at the Citigroup maintains the rating on American Tower Corporation (REIT) (NYSE:AMT). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency raises the price target from $108 per share to $121 per share. The rating by the firm was issued on June 16, 2016.

American Tower Corporation (REIT) (NYSE:AMT): stock turned positive on Tuesday. Though the stock opened at $109.82, the bulls momentum made the stock top out at $110.84 level for the day. The stock recorded a low of $109.19 and closed the trading day at $110.8, in the green by 1.75%. The total traded volume for the day was 1,805,488. The stock had closed at $108.89 in the previous days trading.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (EVP, Chief Admin Ofr, GC & Sec) of American Tower Corp /Ma/, Disanto Edmund had sold 41,875 shares worth of $4,562,281 in a transaction dated June 10, 2016. In this transaction, 41,875 shares were sold at $108.95 per share.

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.

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