ValuEngine cut shares of American Tower (NYSE:AMT) from a buy rating to a hold rating in a research note released on Friday.

A number of other brokerages have also commented on AMT. Argus boosted their price target on shares of American Tower to $170.00 and gave the company a buy rating in a research note on Thursday, November 9th. Zacks Investment Research lowered shares of American Tower from a buy rating to a hold rating in a research note on Thursday, November 9th. Morgan Stanley upped their target price on shares of American Tower from $155.00 to $172.00 and gave the stock an overweight rating in a research note on Tuesday, November 14th. KeyCorp reiterated an overweight rating and issued a $177.00 target price (up previously from $156.00) on shares of American Tower in a research note on Monday, November 27th. Finally, Jefferies Group reiterated a buy rating and issued a $144.00 target price on shares of American Tower in a research note on Tuesday, September 12th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $158.50.

Shares of American Tower (AMT) traded down $0.32 during mid-day trading on Friday, reaching $143.61. 1,993,812 shares of the company’s stock were exchanged, compared to its average volume of 2,013,182. The company has a market cap of $61,725.24, a price-to-earnings ratio of 22.28, a PEG ratio of 1.69 and a beta of 0.73. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61. American Tower has a fifty-two week low of $100.79 and a fifty-two week high of $155.28.

In other news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $151.20, for a total value of $5,140,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edmund Disanto sold 10,000 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $136.00, for a total transaction of $1,360,000.00. Following the completion of the sale, the executive vice president now owns 151,928 shares of the company’s stock, valued at approximately $20,662,208. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,000 shares of company stock valued at $17,580,160. Company insiders own 0.86% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC World Markets Inc. grew its position in American Tower by 100.6% during the second quarter. CIBC World Markets Inc. now owns 21,261 shares of the real estate investment trust’s stock valued at $2,813,000 after buying an additional 10,663 shares during the period. Oppenheimer & Co. Inc. grew its position in American Tower by 33.0% during the second quarter. Oppenheimer & Co. Inc. now owns 81,470 shares of the real estate investment trust’s stock valued at $10,780,000 after buying an additional 20,222 shares during the period. State of Tennessee Treasury Department grew its position in American Tower by 9.7% during the second quarter. State of Tennessee Treasury Department now owns 349,736 shares of the real estate investment trust’s stock valued at $46,277,000 after buying an additional 30,885 shares during the period. BB&T Corp grew its position in American Tower by 3.1% during the third quarter. BB&T Corp now owns 37,161 shares of the real estate investment trust’s stock valued at $5,079,000 after buying an additional 1,104 shares during the period. Finally, BTC Capital Management Inc. grew its position in American Tower by 1.3% during the second quarter. BTC Capital Management Inc. now owns 34,728 shares of the real estate investment trust’s stock valued at $4,592,000 after buying an additional 453 shares during the period. Institutional investors own 91.88% of the company’s stock.

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About American Tower

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.

Analyst Recommendations for American Tower (NYSE:AMT)

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