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 0th 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 subject of several recent research reports. Evercore ISI downgraded shares of American Tower Corp. from a “buy” rating to a “hold” rating and lifted their target price for the stock from $105.00 to $110.00 in a research note on Tuesday, April 19th. They noted that the move was a valuation call. Vetr upgraded shares of American Tower Corp. from a “hold” rating to a “buy” rating and set a $106.86 target price for the company in a research note on Thursday, April 21st. Bank of America Corp. reiterated a “buy” rating and issued a $112.00 target price on shares of American Tower Corp. in a research note on Thursday, April 28th. Morgan Stanley reiterated a “buy” rating and issued a $125.00 target price on shares of American Tower Corp. in a research note on Friday, April 29th. Finally, Royal Bank Of Canada lifted their target price on shares of American Tower Corp. from $128.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, May 2nd. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $119.66.

The firm has a market capitalization of $49.57 billion and a PE ratio of 72.32. The firm 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 posted its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by $0.03. The business earned $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the company earned $1.26 earnings per share. American Tower Corp.’s quarterly revenue was up 22.8% compared to the same quarter last year. Equities research analysts predict that American Tower Corp. will post $5.72 earnings per share for the current year.

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

In other news, Director Carolyn Katz sold 10,000 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $116.25, for a total value of $1,162,500.00. Following the transaction, the director now owns 16,584 shares in the company, valued at approximately $1,927,890. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven C. Marshall sold 100,000 shares of the stock in a transaction dated Monday, July 11th. The shares were 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 and institutional investors have added to or reduced their stakes in the stock. American International Group Inc. increased its position 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 worth $18,298,000 after buying an additional 2,141 shares during the last quarter. Advisors Asset Management Inc. increased its position in American Tower Corp. by 8.1% in the fourth quarter. Advisors Asset Management Inc. now owns 30,862 shares of the real estate investment trust’s stock worth $2,992,000 after buying an additional 2,312 shares during the last quarter. KBC Group NV increased its position 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 worth $3,835,000 after buying an additional 2,847 shares during the last quarter. King Luther Capital Management Corp increased its position 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 worth $8,412,000 after buying an additional 4,115 shares during the last quarter. Finally, Suntrust Banks Inc. increased its position in American Tower Corp. by 69.0% in the fourth quarter. Suntrust Banks Inc. now owns 25,134 shares of the real estate investment trust’s stock worth $2,435,000 after buying an additional 10,263 shares during the last quarter.

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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