Rafferty Asset Management Lowers stake in American Tower Corp (AMT)

American Tower Corp (AMT) : Rafferty Asset Management reduced its stake in American Tower Corp by 18.44% during the most recent quarter end. The investment management company now holds a total of 45,533 shares of American Tower Corp which is valued at $5,276,819 after selling 10,297 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.American Tower Corp makes up approximately 0.33% of Rafferty Asset Management’s portfolio.

Other Hedge Funds, Including , Victory Capital Management Inc reduced its stake in AMT by selling 139 shares or 1.19% in the most recent quarter. The Hedge Fund company now holds 11,504 shares of AMT which is valued at $1,333,199. American Tower Corp makes up approx 0.01% of Victory Capital Management Inc’s portfolio.Advisors Asset Management boosted its stake in AMT in the latest quarter, The investment management firm added 3,485 additional shares and now holds a total of 36,141 shares of American Tower Corp which is valued at $4,188,380. American Tower Corp makes up approx 0.07% of Advisors Asset Management’s portfolio.Northeast Investment Management reduced its stake in AMT by selling 1,851 shares or 1.05% in the most recent quarter. The Hedge Fund company now holds 174,226 shares of AMT which is valued at $20,163,175. American Tower Corp makes up approx 1.99% of Northeast Investment Management’s portfolio. Herndon Capital Management added AMT to its portfolio by purchasing 39 company shares during the most recent quarter which is valued at $4,515.Oakbrook Investments boosted its stake in AMT in the latest quarter, The investment management firm added 1,425 additional shares and now holds a total of 24,915 shares of American Tower Corp which is valued at $2,935,984. American Tower Corp makes up approx 0.16% of Oakbrook Investments’s portfolio.

American Tower Corp opened for trading at $114.41 and hit $114.67 on the upside on Wednesday, eventually ending the session at $114.56, with a gain of 0.39% or 0.44 points. The heightened volatility saw the trading volume jump to 14,48,238 shares. Company has a market cap of $48,744 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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