Investors sold shares of American Tower Corp. (NYSE:AMT) on strength during trading hours on Friday. $15.44 million flowed into the stock on the tick-up and $28.79 million flowed out of the stock on the tick-down, for a money net flow of $13.35 million out of the stock. Of all equities tracked, American Tower Corp. had the 23rd highest net out-flow for the day. American Tower Corp. traded up $0.61 for the day and closed at $116.50

AMT has been the topic of several research reports. Evercore ISI downgraded shares of American Tower Corp. from a “buy” rating to a “hold” rating and upped their price target for the stock from $105.00 to $110.00 in a research report on Tuesday, April 19th. They noted that the move was a valuation call. Morgan Stanley reiterated a “buy” rating and set a $125.00 price target on shares of American Tower Corp. in a research report on Friday, April 29th. Citigroup Inc. upped their price target on shares of American Tower Corp. from $121.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, July 11th. Deutsche Bank AG reiterated a “buy” rating and set a $117.00 price target on shares of American Tower Corp. in a research report on Tuesday, May 31st. Finally, Vetr upgraded shares of American Tower Corp. from a “hold” rating to a “buy” rating and set a $106.86 price target on the stock in a research report on Thursday, April 21st. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. American Tower Corp. presently has a consensus rating of “Buy” and an average price target of $119.66.

The firm has a market capitalization of $49.57 billion and a price-to-earnings ratio of 72.32. The stock has a 50 day moving average price of $115.27 and a 200-day moving average price of $104.24.

American Tower Corp. (NYSE:AMT) last released its earnings results on Thursday, July 28th. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.36 by $0.03. The business earned $1.44 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the company posted $1.26 EPS. The firm’s revenue was up 22.8% on a year-over-year basis. Equities analysts anticipate that American Tower Corp. will post $5.72 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, June 17th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Wednesday, June 15th. This is a boost from American Tower Corp.’s previous quarterly dividend of $0.51.

In other news, SVP Robert Joseph Meyer, Jr. sold 3,106 shares of the business’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $108.68, for a total transaction of $337,560.08. Following the sale, the senior vice president now directly owns 21,386 shares in the company, valued at $2,324,230.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Steven C. Marshall sold 100,000 shares of the business’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $113.33, for a total value of $11,333,000.00. The disclosure for this sale can be found here.

Several hedge funds have recently added to or reduced their stakes in the company. King Luther Capital Management Corp boosted its stake in American Tower Corp. by 5.0% in the fourth quarter. King Luther Capital Management Corp now owns 86,762 shares of the real estate investment trust’s stock valued at $8,412,000 after buying an additional 4,115 shares during the period. American International Group Inc. boosted its stake in American Tower Corp. by 1.1% in the fourth quarter. American International Group Inc. now owns 188,739 shares of the real estate investment trust’s stock valued at $18,298,000 after buying an additional 2,141 shares during the period. KBC Group NV boosted its stake in American Tower Corp. by 7.8% in the fourth quarter. KBC Group NV now owns 39,550 shares of the real estate investment trust’s stock valued at $3,835,000 after buying an additional 2,847 shares during the period. State of Tennessee Treasury Department boosted its stake in American Tower Corp. by 50.4% in the fourth quarter. State of Tennessee Treasury Department now owns 134,450 shares of the real estate investment trust’s stock valued at $13,035,000 after buying an additional 45,050 shares during the period. Finally, Employees Retirement System of Texas boosted its stake in American Tower Corp. by 12.4% in the fourth quarter. Employees Retirement System of Texas now owns 154,100 shares of the real estate investment trust’s stock valued at $14,940,000 after buying an additional 17,000 shares during the period.

American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.

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