Yesterday,
Deutsche Bank reiterated their “outperform” rating for American Tower
Corporation (AMT). This means the analysts believe that the American Tower
Stock is going to do better than the market return.
Before
Deutsche Bank released their rating, CEO James Taiclet Jr. sold 100,000 shares
of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $72.73,
for a total value of $7,273,000.00. Following the completion of the sale,
Taiclet now directly owns 100,041 shares in the company, valued at
approximately $7,275,982. You can view
the form filed with the Securities and Exchange Commission here.
American
Tower’s 52-week high is $85.26 and their 52-week low is $67.89. The
AMT stock closed at $74.64 yesterday. Analysts at Nomura upgraded American Tower’s rating
from “neutral” to “buy” back on September 16th; whereas the analysts
at Maquarie boosted the price target from $84 to $88 on September 17th,
giving American Tower an “outperform” rating.
American
Tower released their 2013 Q2 earnings on July 31, 2013. They reported a core
growth of 18.1% with a total rental and management revenue growth of 15.7%. The
company expects the new business and core organic growth trends to remain
favorable due to the carriers deploying networks worldwide.
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