Rare Infrastructure Ltd Lowers stake in American Tower Corp (AMT)

American Tower Corp (AMT) : Rare Infrastructure Ltd reduced its stake in American Tower Corp by 7.88% during the most recent quarter end. The investment management company now holds a total of 2,474,852 shares of American Tower Corp which is valued at $288,320,258 after selling 211,819 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.American Tower Corp makes up approximately 12.68% of Rare Infrastructure Ltd’s portfolio.

Other Hedge Funds, Including , Balyasny Asset Management sold out all of its stake in AMT during the most recent quarter. The investment firm sold 414,837 shares of AMT which is valued $48,328,511.Apg Asset Management N.v. boosted its stake in AMT in the latest quarter, The investment management firm added 57,800 additional shares and now holds a total of 840,110 shares of American Tower Corp which is valued at $97,872,815. American Tower Corp makes up approx 0.18% of Apg Asset Management N.v.’s portfolio.Cornerstone Financial Partners reduced its stake in AMT by selling 505 shares or 18.44% in the most recent quarter. The Hedge Fund company now holds 2,234 shares of AMT which is valued at $258,541. American Tower Corp makes up approx 0.09% of Cornerstone Financial Partners’s portfolio. Armbruster Capital Management added AMT to its portfolio by purchasing 72 company shares during the most recent quarter which is valued at $8,335. American Tower Corp makes up approx 0.01% of Armbruster Capital Management’s portfolio.Shinko Asset Management Ltd. boosted its stake in AMT in the latest quarter, The investment management firm added 399,019 additional shares and now holds a total of 3,307,719 shares of American Tower Corp which is valued at $389,781,607. American Tower Corp makes up approx 2.64% of Shinko Asset Management Ltd.’s portfolio.

American Tower Corp opened for trading at $113.7 and hit $113.85 on the upside on Thursday, eventually ending the session at $113.82, with a gain of 0.39% or 0.44 points. The heightened volatility saw the trading volume jump to 11,57,694 shares. Company has a market cap of $48,429 M.

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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