American Tower Corp (AMT) : Riverpark Advisors reduced its stake in American Tower Corp by 22.99% during the most recent quarter end. The investment management company now holds a total of 71,282 shares of American Tower Corp which is valued at $7,535,220 after selling 21,279 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.American Tower Corp makes up approximately 3.50% of Riverpark Advisors’s portfolio.
Other Hedge Funds, Including , Johnson Financial Group boosted its stake in AMT in the latest quarter, The investment management firm added 2,119 additional shares and now holds a total of 5,999 shares of American Tower Corp which is valued at $615,317. American Tower Corp makes up approx 0.08% of Johnson Financial Group’s portfolio.Td Asset Management Inc reduced its stake in AMT by selling 6,077 shares or 0.95% in the most recent quarter. The Hedge Fund company now holds 636,565 shares of AMT which is valued at $71,874,554. American Tower Corp makes up approx 0.13% of Td Asset Management Inc’s portfolio.Ballentine Partners boosted its stake in AMT in the latest quarter, The investment management firm added 147 additional shares and now holds a total of 2,170 shares of American Tower Corp which is valued at $245,015. American Tower Corp makes up approx 0.02% of Ballentine Partners’s portfolio.San Francisco Sentry Investment Group (ca) reduced its stake in AMT by selling 832 shares or 5.86% in the most recent quarter. The Hedge Fund company now holds 13,359 shares of AMT which is valued at $1,508,365. American Tower Corp makes up approx 0.93% of San Francisco Sentry Investment Group (ca)’s portfolio.
American Tower Corp closed down -0.45 points or -0.43% at $105.09 with 27,94,273 shares getting traded on Monday. Post opening the session at $105.74, the shares hit an intraday low of $103.97 and an intraday high of $106.43 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, American Tower Corp reported $1.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $1.31. The company had revenue of $1514.84 million for the quarter, compared to analysts expectations of $1510.02 million. The company’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS.
Many Wall Street Analysts have commented on American Tower Corp. Company shares were Reiterated by Stifel on Oct 31, 2016 to “Buy”, Firm has raised the Price Target to $ 135 from a previous price target of $130 .SunTrust Initiated American Tower Corp on Sep 13, 2016 to “Buy”, Price Target of the shares are set at $128.
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.