American Tower Corporation (REIT) (NYSE:AMT) traded at a new 52-week high today of $283.22. Approximately 494,000 shares have changed hands today, as compared to an average 30-day volume of 1.5 million shares.
American Tower Corporation (REIT) share prices have moved between a 52-week high of $283.22 and a 52-week low of $197.50 and are now trading 42% above that low price at $281.13 per share.
American Tower owns and operates more than 180,000 cell towers throughout the U.S., Asia, Latin America, Europe, and the Middle East. It leases space on its towers to wireless service providers, which install equipment on the towers to support their wireless networks. The company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company operates more than 40,000 towers in the U.S., which accounted for more than half of its total revenue in 2020. Outside the U.S., American Tower’s greatest presence is in India and Brazil, where it operates roughly 75,000 and 19,000 towers, respectively. American Tower operates as a real estate investment trust.
American Tower Corporation (REIT) (NYSE:AMT) is currently priced 13.2% above its average consensus analyst price target of $244.08.
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