American Tower Corporation (REIT) (AMT) PT Raised to $172.00 at Morgan Stanley

American Tower Corporation (REIT) (NYSE:AMT) had its target price hoisted by Morgan Stanley from $155.00 to $172.00 in a research note issued to investors on Tuesday morning, MarketBeat reports. Morgan Stanley currently has an overweight rating on the real estate investment trust’s stock.

Several other equities research analysts have also issued reports on AMT. ValuEngine raised shares of American Tower Corporation (REIT) from a hold rating to a buy rating in a report on Friday, November 10th. Zacks Investment Research lowered shares of American Tower Corporation (REIT) from a buy rating to a hold rating in a report on Thursday, November 9th. Argus lifted their price target on shares of American Tower Corporation (REIT) to $170.00 and gave the company a buy rating in a report on Thursday, November 9th. KeyCorp set a $156.00 price target on shares of American Tower Corporation (REIT) and gave the company an overweight rating in a report on Wednesday, November 1st. Finally, BidaskClub lowered shares of American Tower Corporation (REIT) from a buy rating to a hold rating in a report on Monday, July 31st. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. American Tower Corporation (REIT) presently has an average rating of Buy and an average target price of $157.00.

Shares of American Tower Corporation (AMT) opened at $145.87 on Tuesday. The stock has a market cap of $63,770.00, a P/E ratio of 23.14, a P/E/G ratio of 1.76 and a beta of 0.74. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $155.28.

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In other news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Edmund Disanto sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $137.95, for a total transaction of $1,379,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 127,000 shares of company stock worth $18,297,610 over the last three months. Insiders own 0.86% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of American Tower Corporation (REIT) by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 28,442,502 shares of the real estate investment trust’s stock worth $3,763,512,000 after purchasing an additional 881,020 shares during the period. Janus Henderson Group PLC lifted its position in shares of American Tower Corporation (REIT) by 5.4% in the 3rd quarter. Janus Henderson Group PLC now owns 7,868,533 shares of the real estate investment trust’s stock worth $1,075,458,000 after purchasing an additional 400,117 shares during the period. Northern Trust Corp lifted its position in shares of American Tower Corporation (REIT) by 9.2% in the 2nd quarter. Northern Trust Corp now owns 6,566,346 shares of the real estate investment trust’s stock worth $868,858,000 after purchasing an additional 550,608 shares during the period. Edgewood Management LLC lifted its position in shares of American Tower Corporation (REIT) by 1.6% in the 3rd quarter. Edgewood Management LLC now owns 6,326,717 shares of the real estate investment trust’s stock worth $864,736,000 after purchasing an additional 99,052 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of American Tower Corporation (REIT) by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,164,598 shares of the real estate investment trust’s stock worth $432,537,000 after purchasing an additional 166,910 shares during the period. Hedge funds and other institutional investors own 92.04% of the company’s stock.

About American Tower Corporation (REIT)

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 Corporation (REIT) (NYSE:AMT)

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