Traders sold shares of American Tower Corporation (REIT) (NYSE:AMT) on strength during trading on Tuesday. $35.67 million flowed into the stock on the tick-up and $95.95 million flowed out of the stock on the tick-down, for a money net flow of $60.28 million out of the stock. Of all stocks tracked, American Tower Corporation (REIT) had the 2nd highest net out-flow for the day. American Tower Corporation (REIT) traded up $1.17 for the day and closed at $146.94

AMT has been the subject of a number of recent analyst reports. BidaskClub raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Cowen and Company reissued a “buy” rating and issued a $155.00 price objective on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Deutsche Bank AG increased their price objective on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Stifel Nicolaus reissued a “buy” rating and issued a $150.00 price objective on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. Finally, Zacks Investment Research raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a report on Thursday, August 3rd. Thirteen analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $145.00.

The stock has a market capitalization of $63.06 billion, a PE ratio of 58.78 and a beta of 0.70. The stock’s 50-day moving average price is $139.86 and its 200 day moving average price is $128.85.

American Tower Corporation (REIT) (NYSE:AMT) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing the consensus estimate of $1.55 by $0.75. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the firm earned $1.38 EPS. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts predict that American Tower Corporation will post $3.02 earnings per share for the current year.

In other American Tower Corporation (REIT) news, Director Pamela D. A. Reeve sold 5,000 shares of American Tower Corporation (REIT) stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $143.49, for a total transaction of $717,450.00. Following the completion of the sale, the director now owns 17,758 shares of the company’s stock, valued at approximately $2,548,095.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Amit Sharma sold 20,747 shares of American Tower Corporation (REIT) stock in a transaction on Friday, August 18th. The stock was sold at an average price of $139.67, for a total transaction of $2,897,733.49. Following the sale, the executive vice president now directly owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The disclosure for this sale can be found here. Insiders sold a total of 46,295 shares of company stock valued at $6,387,520 in the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in AMT. Waldron LP acquired a new position in shares of American Tower Corporation (REIT) in the 1st quarter valued at $307,000. Acadian Asset Management LLC grew its holdings in shares of American Tower Corporation (REIT) by 296.4% in the 1st quarter. Acadian Asset Management LLC now owns 4,761 shares of the real estate investment trust’s stock valued at $579,000 after buying an additional 3,560 shares during the period. DUPONT CAPITAL MANAGEMENT Corp grew its holdings in shares of American Tower Corporation (REIT) by 12.7% in the 1st quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 120,101 shares of the real estate investment trust’s stock valued at $14,597,000 after buying an additional 13,581 shares during the period. Wetherby Asset Management Inc. grew its holdings in shares of American Tower Corporation (REIT) by 2.7% in the 1st quarter. Wetherby Asset Management Inc. now owns 7,119 shares of the real estate investment trust’s stock valued at $865,000 after buying an additional 189 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of American Tower Corporation (REIT) by 10.0% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 130,429 shares of the real estate investment trust’s stock valued at $15,852,000 after buying an additional 11,883 shares during the period. 92.09% of the stock is owned by institutional investors.

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American Tower Corporation (REIT) Company Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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