Citigroup Maintains American Tower Corp to Buy with Price Target $121.00

Brokerage firm Citigroup Maintains its rating on American Tower Corp(NYSE:AMT). In a research note issued to the investors, the brokerage major Raises the price-target to $121.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Jun 16, 2016.

In a different note, On Apr 19, 2016, Evercore ISI Group said it Downgrades its rating on American Tower Corp. In the research note, the firm Raises the price-target to $105.00 per share. The shares have been rated ‘Hold’ by the firm.

American Tower Corp (AMT) made into the market gainers list on Tuesdays trading session with the shares advancing 1.88% or 2.02 points. Due to strong positive momentum, the stock ended at $109.44, which is also near the day’s high of $109.79. The stock began the session at $107.91 and the volume stood at 20,71,324 shares. The 52-week high of the shares is $109.8 and the 52 week low is $83.07. The company has a current market capitalization of $46,471 M and it has 42,46,24,800 shares in outstanding.

American Tower Corp(AMT) last announced its earnings results on Apr 29, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.29B. Analysts had an estimated revenue of $1.29B. Earnings per share were $1.41. Analysts had estimated an EPS of $1.30.

Several Insider Transactions has been reported to the SEC. On Jun 14, 2016, Edmund Disanto (EVP, Chief Admin Ofr, GC & Sec) sold 41,875 shares at $108.95 per share price.Also, On Jun 13, 2016, Robert Joseph Jr Meyer (SVP, Finance & Corp Controller) sold 3,106 shares at $108.68 per share price.On Jun 9, 2016, David E Sharbutt (director) sold 5,000 shares at $108.14 per share price, according to the Form-4 filing with the securities and exchange commission.

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 87000 communications sites. The Company’s 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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