American Tower Corp Received its Third Buy in a Row

By Carrie Williams

After KeyBanc and SunTrust Robinson assigned a Buy rating to American Tower Corp in the last month, the company received another Buy, this time from Jefferies. Analyst Omotayo Okusanya reiterated a Buy rating on American Tower Corp (NYSE: AMT) today and set a price target of $144. The company’s shares opened today at $139.71.

According to TipRanks.com, Okusanya is a 4-star analyst with an average return of 6.7% and a 63.1% success rate. Okusanya covers the Financial sector, focusing on stocks such as Government Properties Income Trust, National Storage Affiliates Trust, and Retail Properties of America Inc.

Currently, the analyst consensus on American Tower Corp is Strong Buy and the average price target is $152.71, representing a 9.3% upside.

In a report issued on October 2, RBC Capital also reiterated a Buy rating on the stock with a $153 price target.

American Tower Corp’s market cap is currently $60.07B and has a P/E ratio of 56.21. The company has a book value ratio of 9.2665.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2017, Amit Sharma, the EVP, Asia of AMT bought 32,500 shares for a total of $1,225,250.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

American Tower Corp. operates as a developer of wireless and broadcast communications real estate, which engages in leasing antenna space on multi-tenant communications sites to different providers. It operates business through the following segments: U.S., Asia, EMEA, and Latin America. The U.S. segment handles operations in the United States.