Analysis: American Tower Corporation (NYSE:AMT) Target Upped Today
In a note published by Pacific Crest on Friday morning, the firm, American Tower Corporation (NYSE:AMT), had their target price lowered to $113.00. Analusts right now have a solid Overweight rating on the stock.
From a total of 17 analysts covering American Tower Corporation (NYSE:AMT) stock, 20 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 95% of the ratings are positive. The highest target price is $134 while the lowest target price is $101. The mean of all analyst targets is $116.41 with a 22.11% above today’s ($93.71) stock price. American Tower Corporation was the topic of 14 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Macquarie Research maintained shares on November 9 with “Outperform” rating. Zacks upgraded AMT stock in a recent report from August 26 to “Hold” rating. Finally, Morgan Stanley upgraded the stock to “Overweight” rating in a report issued on an August 6.
Approximately 1.66M shares of stock traded hands. American Tower Corp (NYSE:AMT) has risen 0.13% since May 8, 2015 and is uptrending. It has outperformed by 3.14% the S&P500.
The overall sentiment of institutions has decreased to 1 in Q2 2015. Its down 0.04, from 1.04 in 2015Q2. The ratio worsened, as 51 institutions have sold all the shares of American Tower Corp that they owned while 253 funds have taken shares off the table. 57 funds have purchased shares for the first time while 247 added to their positions. These institutions now hold 410.58 million shares or 4.52% more than the 392.82 million shares they owned in 2015Q2.
The Fund Akre Capital Management Llc currently is holding shares equating to 12.86% of its total portfolio in American Tower Corp representing a total of 6.30 million shares. Another fund,Levasseur Capital Partners Llc, is holding a total of 122,673 shares equating to 11.09% of their holdings. Additionally, Rare Infrastructure Ltd has a 2.92 million share stake in American Tower Corp which represents 10.76% of their total portfolio. The Fund, Broad Run Investment Management Llc, based out of Virginia, has also built up a stake in the stock, which represents a total of 10.46% of their total portfolio. Finally Avenir Corp, a fund which is based in the state of reported a total holdings of 1.07 million shares.
Insider activity is a very important aspect to track on any stock. Going back to June 1, 2015, shareholders of American Tower Corp have witnessed 0 insider purchases, and a total of 7 sales equating to a net activity of approximately $17.24 million . Hess William H sold 10,000 shares worth approximately $938,700. Taiclet James D Jr sold 47,000 shares worth approximately $4.46M.
American Tower Corporation is an independent owner, operator and developer of communications real estate. The company has a market cap of $40.29 billion. The Firm 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 69.42 P/E ratio. It has a portfolio of over 87,000 communications sites.
According to Zacks Investment Research, “American Tower Corporation is a wireless communications and broadcast infrastructure company with three operating segments. The company operates a leading network of communications towers and is the largest independent operator of broadcast towers in North America. The company provides comprehensive network development services for wireless service providers and broadcasters. The company also operates a leading teleport business, which transmits Internet, voice, data and video communications worldwide.” Get a free copy of the Zacks research report on American Tower Corp (AMT).