Stock Mover of the Day: Does American Tower Corp Have Any Gas After Today’s Significant Decline?

Stock Mover of the Day: Does American Tower Corp Have Any Gas After Today's Significant Decline?

The stock of American Tower Corp (NYSE:AMT) is a huge mover today! American Tower Corp (NYSE:AMT) has risen 16.90% since March 2, 2016 and is uptrending. It has outperformed by 8.64% the S&P500.
The move comes after 6 months negative chart setup for the $45.71 billion company. It was reported on Oct, 6 by Barchart.com. We have $101.29 PT which if reached, will make NYSE:AMT worth $2.74 billion less.

Analysts await American Tower Corp (NYSE:AMT) to report earnings on November, 3. They expect $1.39 earnings per share, up 6.11% or $0.08 from last year’s $1.31 per share. AMT’s profit will be $589.67 million for 19.38 P/E if the $1.39 EPS becomes a reality. After $1.38 actual earnings per share 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. The rating was maintained by JP Morgan on Wednesday, October 7 with “Overweight”. Citigroup maintained American Tower Corp (NYSE:AMT) rating on Wednesday, August 10. Citigroup has “Buy” rating and $133 price target. The stock has “Buy” rating given by Argus Research on Wednesday, August 17. RBC Capital Markets maintained American Tower Corp (NYSE:AMT) on Thursday, July 30 with “Outperform” rating. Macquarie Research maintained American Tower Corp (NYSE:AMT) on Monday, November 9 with “Outperform” rating. The firm has “Hold” rating given on Tuesday, April 19 by Evercore. Zacks downgraded the stock to “Buy” rating in Monday, August 24 report. The company was upgraded on Wednesday, August 26 by Zacks. Citigroup maintained American Tower Corp (NYSE:AMT) on Monday, July 11 with “Buy” rating. As per Thursday, June 16, the company rating was maintained by Citigroup.

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.
State Of Wisconsin Board last reported 418,808 shares in the company. Ftb Advsr Inc has invested 0% of its portfolio in American Tower Corp (NYSE:AMT). Janus Mngmt Ltd Limited Liability Company accumulated 5.72M shares or 0.55% of the stock. Mackenzie Finance holds 0.11% or 169,096 shares in its portfolio. Moreover, Mesirow Investment has 0.06% invested in American Tower Corp (NYSE:AMT) for 8,880 shares. Joel Isaacson & Com Llc has 0.14% invested in the company for 5,610 shares. Ridgeworth Capital Management Lc holds 0.34% or 329,866 shares in its portfolio. Cibc Asset Mgmt Inc has invested 0.04% of its portfolio in American Tower Corp (NYSE:AMT). Point72 Asset Management L P holds 0.09% or 114,800 shares in its portfolio. Geneva Advsr Ltd Company accumulated 2.14% or 954,087 shares. Madison Holdings has 1.12% invested in the company for 476,303 shares. Smith Asset Mngmt Grp Inc L P has 0.34% invested in the company for 101,100 shares. Godshalk Welsh Capital has 6,890 shares for 0.83% of their US portfolio. Solaris Asset Limited Liability Com holds 3,261 shares or 0.27% of its portfolio. Blackrock Fund Advsr, a California-based fund reported 7.86M shares.

Insider Transactions: Since April 15, 2016, the stock had 0 insider buys, and 20 selling transactions for $62.26 million net activity. On Tuesday, June 7 the insider SHARBUTT DAVID E sold $540,700. 100,000 shares were sold by Marshall Steven C., worth $11.33 million on Friday, July 8. The insider KATZ CAROLYN sold $1.16M. Another trade for 10,000 shares valued at $1.13M was made by REEVE PAMELA D A on Wednesday, August 17. DiSanto Edmund sold $4.56M worth of stock. 40,625 shares with value of $4.74M were sold by TAICLET JAMES D JR on Monday, August 15. 92,769 American Tower Corp (NYSE:AMT) shares with value of $9.74 million were sold by Bartlett Thomas A.

More important recent American Tower Corp (NYSE:AMT) news were published by: Reuters.com which released: “BRIEF-American Tower Corp prices senior notes offering” on September 28, 2016, also Forbes.com published article titled: “Ex-Dividend Reminder: Monogram Residential Trust, American Tower and VEREIT”, Seekingalpha.com published: “American Tower Corporation: Positioning For Long-Term Growth” on September 20, 2016. More interesting news about American Tower Corp (NYSE:AMT) was released by: Businesswire.com and their article: “American Tower Corporation Declares Quarterly Distribution” with publication date: September 16, 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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