Traders sold shares of American Tower Corporation (REIT) (NYSE:AMT) on strength during trading hours 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 companies tracked, American Tower Corporation (REIT) had the 0th 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 topic of several research analyst reports. Citigroup Inc. upped their price target on shares of American Tower Corporation (REIT) from $142.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 28th. Zacks Investment Research cut shares of American Tower Corporation (REIT) from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Cowen and Company reaffirmed a “buy” rating and issued a $155.00 price target on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of American Tower Corporation (REIT) in a report on Monday, June 12th. Thirteen research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $145.00.

The company has a market capitalization of $62.75 billion, a P/E ratio of 58.49 and a beta of 0.70. The stock has a 50-day moving average of $140.14 and a 200 day moving average of $128.97.

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

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

Several hedge funds have recently added to or reduced their stakes in the company. Alexandria Capital LLC raised its position in shares of American Tower Corporation (REIT) by 0.5% during the second quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 4 shares during the last quarter. Cornerstone Advisors Inc. raised its position in shares of American Tower Corporation (REIT) by 1.2% during the second quarter. Cornerstone Advisors Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 15 shares during the last quarter. Baxter Bros Inc. raised its position in shares of American Tower Corporation (REIT) by 0.4% during the second quarter. Baxter Bros Inc. now owns 3,470 shares of the real estate investment trust’s stock worth $459,000 after acquiring an additional 15 shares during the last quarter. Guardian Life Insurance Co. of America raised its position in shares of American Tower Corporation (REIT) by 1.2% during the first quarter. Guardian Life Insurance Co. of America now owns 1,650 shares of the real estate investment trust’s stock worth $201,000 after acquiring an additional 19 shares during the last quarter. Finally, HL Financial Services LLC raised its position in shares of American Tower Corporation (REIT) by 0.5% during the second quarter. HL Financial Services LLC now owns 3,675 shares of the real estate investment trust’s stock worth $486,000 after acquiring an additional 19 shares during the last quarter. Institutional investors own 92.09% of the company’s stock.

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About American Tower Corporation (REIT)

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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