Friedberg Investment Management buys $8,459,065 stake in American Tower Corp (AMT)

American Tower Corp (AMT) : Friedberg Investment Management scooped up 110 additional shares in American Tower Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 72,610 shares of American Tower Corp which is valued at $8,459,065.American Tower Corp makes up approximately 3.90% of Friedberg Investment Management’s portfolio.

Other Hedge Funds, Including , Mizuho Asset Managementltd. boosted its stake in AMT in the latest quarter, The investment management firm added 2,808 additional shares and now holds a total of 5,701 shares of American Tower Corp which is valued at $664,167. American Tower Corp makes up approx 0.12% of Mizuho Asset Managementltd.’s portfolio. First Personal Financial Services added AMT to its portfolio by purchasing 27 company shares during the most recent quarter which is valued at $3,125.Mn Services Vermogensbeheer B.v. boosted its stake in AMT in the latest quarter, The investment management firm added 183 additional shares and now holds a total of 10,768 shares of American Tower Corp which is valued at $1,255,333. American Tower Corp makes up approx 0.25% of Mn Services Vermogensbeheer B.v.’s portfolio. Bartlett added AMT to its portfolio by purchasing 100 company shares during the most recent quarter which is valued at $11,761. Vigilant Capital Management added AMT to its portfolio by purchasing 132 company shares during the most recent quarter which is valued at $15,540.

American Tower Corp closed down -0.74 points or -0.65% at $113.61 with 30,96,721 shares getting traded on Friday. Post opening the session at $114.18, the shares hit an intraday low of $113.25 and an intraday high of $114.57 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, American Tower Corp reported $1.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.28. The company had revenue of $1442.00 million for the quarter, compared to analysts expectations of $1432.38 million. The company’s revenue was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS.

American Tower Corporation is an independent owner operator and developer of communications real estate. The Company is engaged in the leasing of space on multi-tenant communications sites to wireless service providers radio and television broadcast companies wireless data and data providers government agencies and municipalities and tenants in a number of other industries. It has a portfolio of over 87000 communications sites. The Company’s continuing operations are managed through three segments: Domestic Rental and Management which includes its property interests that it leases to communications service providers and third-party tower operators in the United States; International Rental and Management which includes its interests in international communications sites and Network Development Services which offers tower-related services domestically including site acquisition zoning and permitting services and structural analysis services.

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