Is Buying American Tower Corp Here a Winning Strategy? Option Traders Like The Stock

 Is Buying American Tower Corp Here a Winning Strategy? Option Traders Like The Stock

In today’s session American Tower Corp (AMT) registered an unusually high (215) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious AMT increase. With 215 contracts traded and 1784 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: AMT161021C00114000 closed last at: $0.8 or 14.3% up. American Tower Corp (NYSE:AMT) has risen 15.17% since March 15, 2016 and is uptrending. It has outperformed by 9.69% the S&P500.

Analysts await American Tower Corp (NYSE:AMT) to report earnings on November, 3. They expect $1.39 EPS, up 6.11% or $0.08 from last year’s $1.31 per share. AMT’s profit will be $591.43M for 19.52 P/E if the $1.39 EPS becomes a reality. After $1.38 actual EPS reported by American Tower Corp for the previous quarter, Wall Street now forecasts 0.72% EPS growth.

American Tower Corp (NYSE:AMT) Ratings Coverage

Out of 12 analysts covering American Tower Corporation (NYSE:AMT), 11 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 92% are positive. American Tower Corporation has been the topic of 24 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Citigroup maintained American Tower Corp (NYSE:AMT) on Thursday, June 16 with “Buy” rating. The firm has “Buy” rating by Citigroup given on Monday, July 11. The stock of American Tower Corp (NYSE:AMT) has “Buy” rating given on Wednesday, August 26 by Stifel Nicolaus. On Monday, August 24 the stock rating was downgraded by Zacks to “Buy”. The stock of American Tower Corp (NYSE:AMT) has “Outperform” rating given on Monday, November 9 by Macquarie Research. The rating was maintained by RBC Capital Markets on Thursday, July 30 with “Outperform”. On Wednesday, August 10 the stock rating was maintained by Citigroup with “Buy”. The firm has “Overweight” rating given on Thursday, August 6 by Morgan Stanley. SunTrust initiated American Tower Corp (NYSE:AMT) on Tuesday, September 13 with “Buy” rating. The firm earned “Hold” rating on Wednesday, August 12 by Zacks.

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.”

Insitutional Activity: The institutional sentiment decreased to 1.04 in Q2 2016. Its down 0.17, from 1.21 in 2016Q1. The ratio worsened, as 31 funds sold all American Tower Corp shares owned while 270 reduced positions. 76 funds bought stakes while 236 increased positions. They now own 390.54 million shares or 3.63% less from 405.23 million shares in 2016Q1.
Blackrock reported 1.15 million shares or 0.2% of all its holdings. Massachusetts Serv Ma holds 0.46% of its portfolio in American Tower Corp (NYSE:AMT) for 8.04 million shares. Washington Tru Com accumulated 33,564 shares or 0.26% of the stock. Moreover, Lincoln Natl has 0.01% invested in American Tower Corp (NYSE:AMT) for 2,005 shares. Sentry Invests Corp, a Ontario – Canada-based fund reported 192,614 shares. Apg Asset Nv last reported 840,110 shares in the company. Jpmorgan Chase & holds 0.03% of its portfolio in American Tower Corp (NYSE:AMT) for 1.15 million shares. Fragasso Gru Inc last reported 0.44% of its portfolio in the stock. The Massachusetts-based Welch Forbes has invested 0.01% in American Tower Corp (NYSE:AMT). Carlson Cap Lp holds 0.47% of its portfolio in American Tower Corp (NYSE:AMT) for 335,567 shares. Akre Mngmt Ltd Liability Co last reported 6.30 million shares in the company. Kistler has 100 shares for 0.01% of their US portfolio. First Midwest Financial Bank Trust Division last reported 0.39% of its portfolio in the stock. The New Jersey-based Private Advisor Group Ltd Liability has invested 0.07% in American Tower Corp (NYSE:AMT). Atlantic Group Incorporated Limited Liability Com reported 116,622 shares or 0.1% of all its holdings.

Insider Transactions: Since May 2, 2016, the stock had 0 buys, and 19 insider sales for $56.49 million net activity. Another trade for 40,625 shares valued at $4.74 million was sold by TAICLET JAMES D JR. SHARBUTT DAVID E sold $1.04 million worth of stock or 10,000 shares. Another trade for 50,000 shares valued at $5.78 million was made by Marshall Steven C. on Tuesday, July 12. 5,000 American Tower Corp (NYSE:AMT) shares with value of $581,688 were sold by KATZ CAROLYN. On Friday, June 10 the insider DiSanto Edmund sold $4.56M. REEVE PAMELA D A sold $1.13 million worth of stock or 10,000 shares. On Tuesday, September 6 the insider THOMPSON SAMME L sold $165,880.

American Tower Corporation is a holding company. The company has a market cap of $46.17 billion. The Firm operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. It has a 67.2 P/E ratio. ATC’s divisions include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

AMT Company Profile

American Tower Corporation (ATC), incorporated on October 24, 1996, is a holding company. The Firm operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. The Company’s divisions include U.S. property, Asia property, EMEA property, Latin America property, Services and Other. The Company’s primary business is property operations, which include the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities, and tenants in various other industries. The Company’s U.S. property segment includes activities in the United States. The Company’s Asia property segment includes activities in India. The EMEA property segment includes activities in Germany, Ghana, Nigeria, South Africa and Uganda. The Latin America property segment includes activities in Brazil, Chile, Colombia, Costa Rica, Mexico and Peru. The Company’s services segment includes tower-related services in the United States, including site acquisition, zoning and permitting and structural analysis, which primarily supports its site leasing business, including the addition of tenants and equipment on its sites.

More news for American Tower Corp (NYSE:AMT) were recently published by: Reuters.com, which released: “BRIEF-American Tower Corp prices senior notes offering” on September 28, 2016. Forbes.com‘s article titled: “Ex-Dividend Reminder: Monogram Residential Trust, American Tower and VEREIT” and published on September 26, 2016 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment