Market Runner: Could American Tower Corp Change Direction After Today’s Big Increase?

Market Runner: Could American Tower Corp Change Direction After Today's Big Increase?

The stock of American Tower Corp (NYSE:AMT) is a huge mover today! About 1.89 million shares traded hands. American Tower Corp (NYSE:AMT) has declined 0.28% since April 11, 2016 and is downtrending. It has underperformed by 6.43% the S&P500.
The move comes after 7 months positive chart setup for the $44.97 billion company. It was reported on Nov, 11 by Barchart.com. We have $154.25 PT which if reached, will make NYSE:AMT worth $20.69 billion more.

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 25 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets with “Outperform” on Thursday, July 30. The rating was maintained by Citigroup on Monday, July 11 with “Buy”. As per Monday, May 2, the company rating was maintained by RBC Capital Markets. Stifel Nicolaus maintained it with “Buy” rating and $120 target price in Monday, November 2 report. The company was downgraded on Monday, August 24 by Zacks. On Thursday, August 6 the stock rating was upgraded by Morgan Stanley to “Overweight”. Evercore downgraded American Tower Corp (NYSE:AMT) rating on Tuesday, April 19. Evercore has “Hold” rating and $110 price target. The rating was maintained by Argus Research with “Buy” on Wednesday, August 17. The firm earned “Outperform” rating on Monday, November 9 by Macquarie Research. Stifel Nicolaus initiated American Tower Corp (NYSE:AMT) rating on Wednesday, August 26. Stifel Nicolaus has “Buy” rating and $112 price target.

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 fall, 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.
Ubs Asset Americas owns 1.13M shares or 0.15% of their US portfolio. Segall Bryant And Hamill holds 24,976 shares or 0.07% of its portfolio. Augustine Asset Mngmt last reported 7,000 shares in the company. Commonwealth Fincl Bank Of Australia holds 967,335 shares or 1.29% of its portfolio. The Indiana-based Wallington Asset Mngmt Lc has invested 2.69% in American Tower Corp (NYSE:AMT). Strs Ohio holds 0.28% of its portfolio in American Tower Corp (NYSE:AMT) for 564,018 shares. Brookfield Asset Management Inc last reported 3.16 million shares in the company. Buckingham Asset Mngmt Limited Liability Corporation reported 5,802 shares or 0.22% of all its holdings. Moreover, First Mercantile Trust has 0.28% invested in American Tower Corp (NYSE:AMT) for 20,093 shares. Baldwin Brothers Ma holds 0.03% or 1,385 shares in its portfolio. Adell Harriman Carpenter Incorporated has 0% invested in the company for 68,036 shares. Tiverton Asset Mngmt Llc holds 3.96% of its portfolio in American Tower Corp (NYSE:AMT) for 985,706 shares. Pinnacle Fincl holds 1% of its portfolio in American Tower Corp (NYSE:AMT) for 37,592 shares. Lincoln Limited Liability Corp has 0.23% invested in the company for 2,700 shares. Comerica National Bank & Trust holds 122,835 shares or 0.12% of its portfolio.

Insider Transactions: Since May 16, 2016, the stock had 0 buys, and 20 insider sales for $51.61 million net activity. The insider Meyer Robert Joseph JR sold 3,106 shares worth $337,560. On Monday, October 24 THOMPSON SAMME L sold $255,718 worth of the stock or 2,202 shares. Marshall Steven C. also sold $5.78M worth of American Tower Corp (NYSE:AMT) on Tuesday, July 12. DOLAN RAYMOND P sold $1.22 million worth of American Tower Corp (NYSE:AMT) on Tuesday, June 7. TAICLET JAMES D JR sold $4.42M worth of stock. SHARBUTT DAVID E sold $540,700 worth of American Tower Corp (NYSE:AMT) on Tuesday, June 7. DiSanto Edmund also sold $4.56M worth of American Tower Corp (NYSE:AMT) on Friday, June 10.

More notable recent American Tower Corp (NYSE:AMT) news were published by: Forbes.com which released: “American Tower Becomes Oversold” on November 10, 2016, also Businesswire.com with their article: “American Tower Corporation Releases Information Regarding its Business with …” published on November 11, 2016, Fool.com published: “The Big Risk American Tower Corp. Management Needs to Address” on October 26, 2016. More interesting news about American Tower Corp (NYSE:AMT) were released by: Reuters.com and their article: “BRIEF-American Tower Corp enters into an agreement to acquire a portfolio …” published on November 09, 2016 as well as Forbes.com‘s news article titled: “Time To Sell American Tower And Other Low Yielding REITs” with publication date: October 20, 2016.

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.

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