AMT Keeps “Outperform Rating”, CEO Sells 100,000 Shares of Company StockComments Off on AMT Keeps “Outperform Rating”, CEO Sells 100,000 Shares of Company Stock
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.