Investors purchased shares of American Tower Corp. (NYSE:AMT) on weakness during trading on Wednesday. $41.55 million flowed into the stock on the tick-up and $27.34 million flowed out of the stock on the tick-down, for a money net flow of $14.21 million into the stock. Of all stocks tracked, American Tower Corp. had the 13th highest net in-flow for the day. American Tower Corp. traded down ($0.65) for the day and closed at $114.57

A number of equities analysts have commented on AMT shares. 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. Morgan Stanley reissued a “buy” rating and issued a $125.00 price target on shares of American Tower Corp. in a research note on Friday, April 29th. Bank of America Corp. reissued a “buy” rating and issued a $112.00 price target on shares of American Tower Corp. in a research note on Thursday, April 28th. Jefferies Group reissued a “buy” rating on shares of American Tower Corp. in a research note on Saturday, August 6th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $117.00 price target on shares of American Tower Corp. in a research note on Tuesday, May 31st. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $120.20.

The firm has a market capitalization of $48.75 billion and a PE ratio of 71.12. The company’s 50 day moving average is $115.81 and its 200-day moving average is $105.64.

American Tower Corp. (NYSE:AMT) last released its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. The company’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 earnings per share. Analysts forecast that American Tower Corp. will post $5.72 earnings per share for the current year.

In other news, EVP Steven C. Marshall sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $113.33, for a total transaction of $11,333,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven C. Marshall sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $115.50, for a total transaction of $5,775,000.00. Following the sale, the executive vice president now directly owns 139,689 shares of the company’s stock, valued at approximately $16,134,079.50. The disclosure for this sale can be found here.

A number of institutional investors have added to or reduced their stakes in AMT. Schwab Charles Investment Management Inc. increased its position in American Tower Corp. by 4.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,108,097 shares of the real estate investment trust’s stock worth $107,431,000 after buying an additional 48,520 shares in the last quarter. State of Tennessee Treasury Department increased its position 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 worth $13,035,000 after buying an additional 45,050 shares in the last quarter. Matarin Capital Management LLC acquired a new position in American Tower Corp. during the fourth quarter worth approximately $2,806,000. 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 in the last quarter. Finally, 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 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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