American Tower Corp (AMT) : Pennsylvania Trust Co scooped up 8,680 additional shares in American Tower Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 19,750 shares of American Tower Corp which is valued at $2,238,663.American Tower Corp makes up approximately 0.18% of Pennsylvania Trust Co’s portfolio.
Other Hedge Funds, Including , Raymond James Trust N.a. reduced its stake in AMT by selling 515 shares or 7.14% in the most recent quarter. The Hedge Fund company now holds 6,697 shares of AMT which is valued at $732,853. American Tower Corp makes up approx 0.06% of Raymond James Trust N.a.’s portfolio.First Mercantile Trust Co reduced its stake in AMT by selling 7,138 shares or 35.52% in the most recent quarter. The Hedge Fund company now holds 12,955 shares of AMT which is valued at $1,405,747. American Tower Corp makes up approx 0.19% of First Mercantile Trust Co’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in AMT by selling 1,254 shares or 1.14% in the most recent quarter. The Hedge Fund company now holds 108,643 shares of AMT which is valued at $11,788,852. American Tower Corp makes up approx 0.25% of Exxonmobil Investment Management Inc Tx’s portfolio. Central Bank Trust Co sold out all of its stake in AMT during the most recent quarter. The investment firm sold 80 shares of AMT which is valued $8,681.
American Tower Corp opened for trading at $112.97 and hit $114.59 on the upside on Friday, eventually ending the session at $113.35, with a gain of 0.58% or 0.65 points. The heightened volatility saw the trading volume jump to 22,54,770 shares. Company has a market cap of $48,229 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.
Many Wall Street Analysts have commented on American Tower Corp. 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.