Avenir Corp Lowers stake in American Tower Corp (AMT)

American Tower Corp (AMT) : Avenir Corp reduced its stake in American Tower Corp by 8.74% during the most recent quarter end. The investment management company now holds a total of 936,577 shares of American Tower Corp which is valued at $96,064,703 after selling 89,723 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 8.30% of Avenir Corp’s portfolio.

Other Hedge Funds, Including , Northwestern Mutual Wealth Management Co reduced its stake in AMT by selling 2,577 shares or 18.5% in the most recent quarter. The Hedge Fund company now holds 11,354 shares of AMT which is valued at $1,164,580. American Tower Corp makes up approx 0.02% of Northwestern Mutual Wealth Management Co’s portfolio.Schroder Investment Management Group boosted its stake in AMT in the latest quarter, The investment management firm added 45,409 additional shares and now holds a total of 50,509 shares of American Tower Corp which is valued at $5,516,593. American Tower Corp makes up approx 0.01% of Schroder Investment Management Group’s portfolio.Oppenheimer Co Inc reduced its stake in AMT by selling 103 shares or 0.22% in the most recent quarter. The Hedge Fund company now holds 47,195 shares of AMT which is valued at $5,436,392. American Tower Corp makes up approx 0.16% of Oppenheimer Co Inc’s portfolio.Ubs Asset Management Americas Inc boosted its stake in AMT in the latest quarter, The investment management firm added 4,218 additional shares and now holds a total of 1,138,036 shares of American Tower Corp which is valued at $128,575,307. American Tower Corp makes up approx 0.15% of Ubs Asset Management Americas Inc’s portfolio.Commerce Bank reduced its stake in AMT by selling 1,077 shares or 5.6% in the most recent quarter. The Hedge Fund company now holds 18,162 shares of AMT which is valued at $2,057,210. American Tower Corp makes up approx 0.03% of Commerce Bank’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.

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