Traders Sell American Tower Corp. (AMT) on Strength (AMT)
Investors sold shares of American Tower Corp. (NYSE:AMT) on strength during trading hours on Monday. $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 stocks 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
Several research firms have recently weighed in on AMT. Royal Bank Of Canada boosted their price target on American Tower Corp. from $128.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, May 2nd. Vetr upgraded American Tower Corp. from a “hold” rating to a “buy” rating and set a $106.86 price target on the stock in a report on Thursday, April 21st. Morgan Stanley restated a “buy” rating and set a $125.00 price target on shares of American Tower Corp. in a report on Friday, April 29th. Bank of America Corp. restated a “buy” rating and set a $112.00 price target on shares of American Tower Corp. in a report on Thursday, April 28th. Finally, Jefferies Group restated a “buy” rating on shares of American Tower Corp. in a report on Saturday, August 6th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $119.66.
The firm has a 50-day moving average price of $115.48 and a 200 day moving average price of $104.58. The stock has a market cap of $49.00 billion and a P/E ratio of 71.48.
American Tower Corp. (NYSE:AMT) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.33 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 analyst estimates of $1.44 billion. American Tower Corp.’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 earnings per share. On average, equities research analysts predict that American Tower Corp. will post $5.72 EPS for the current fiscal year.
In other American Tower Corp. news, EVP Edmund Disanto sold 21,087 shares of American Tower Corp. stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $116.71, for a total value of $2,461,063.77. Following the transaction, the executive vice president now directly owns 140,749 shares of the company’s stock, valued at approximately $16,426,815.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David E. Sharbutt sold 10,000 shares of American Tower Corp. stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $104.35, for a total value of $1,043,500.00. Following the completion of the transaction, the director now directly owns 15,124 shares in the company, valued at $1,578,189.40. The disclosure for this sale can be found here.
A number of institutional investors recently made changes to their positions in the company. Suntrust Banks Inc. boosted its position in shares of 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 period. Matarin Capital Management LLC acquired a new stake in shares of American Tower Corp. during the fourth quarter worth $2,806,000. Advisors Asset Management Inc. raised its stake in shares of 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 in the last quarter. KBC Group NV raised its stake in shares of 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 in the last quarter. Finally, Stephens Inc. AR raised its stake in shares of American Tower Corp. by 1,211.2% in the fourth quarter. Stephens Inc. AR now owns 43,951 shares of the real estate investment trust’s stock worth $4,261,000 after buying an additional 40,599 shares in 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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