American Tower Corp (AMT) : Evercore Wealth Management reduced its stake in American Tower Corp by 3.65% during the most recent quarter end. The investment management company now holds a total of 440,049 shares of American Tower Corp which is valued at $50,926,871 after selling 16,689 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.American Tower Corp makes up approximately 2.19% of Evercore Wealth Management’s portfolio.
Other Hedge Funds, Including , Badgley Phelps Bell Inc boosted its stake in AMT in the latest quarter, The investment management firm added 113 additional shares and now holds a total of 97,122 shares of American Tower Corp which is valued at $11,239,929. American Tower Corp makes up approx 0.99% of Badgley Phelps Bell Inc’s portfolio.Agran Libbie reduced its stake in AMT by selling 309 shares or 1.19% in the most recent quarter. The Hedge Fund company now holds 25,624 shares of AMT which is valued at $3,013,639. American Tower Corp makes up approx 0.73% of Agran Libbie’s portfolio.Louisiana State Employees Retirement System reduced its stake in AMT by selling 500 shares or 1.76% in the most recent quarter. The Hedge Fund company now holds 27,900 shares of AMT which is valued at $3,281,319. American Tower Corp makes up approx 0.17% of Louisiana State Employees Retirement System’s portfolio. Mizuho Securities Usa added AMT to its portfolio by purchasing 5,500 company shares during the most recent quarter which is valued at $648,120. American Tower Corp makes up approx 0.12% of Mizuho Securities Usa’s portfolio.
American Tower Corp opened for trading at $115.99 and hit $117 on the upside on Thursday, eventually ending the session at $116.42, with a gain of 0.60% or 0.69 points. The heightened volatility saw the trading volume jump to 17,73,786 shares. Company has a market cap of $49,535 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.