Retirement Design Management Inc Adv Lowers stake in American Tower Corp (AMT)

American Tower Corp (AMT) : Retirement Design Management Inc Adv reduced its stake in American Tower Corp by 0.04% during the most recent quarter end. The investment management company now holds a total of 23,123 shares of American Tower Corp which is valued at $2,620,992 after selling 9 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.American Tower Corp makes up approximately 1.64% of Retirement Design Management Inc Adv’s portfolio.

Other Hedge Funds, Including , Atria Investments boosted its stake in AMT in the latest quarter, The investment management firm added 999 additional shares and now holds a total of 4,297 shares of American Tower Corp which is valued at $468,115. American Tower Corp makes up approx 0.04% of Atria Investments’s portfolio.Hills Bank Trust Co boosted its stake in AMT in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 8,758 shares of American Tower Corp which is valued at $958,388. American Tower Corp makes up approx 0.35% of Hills Bank Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in AMT by selling 18,663 shares or 34.59% in the most recent quarter. The Hedge Fund company now holds 35,290 shares of AMT which is valued at $3,791,558. American Tower Corp makes up approx 0.02% of Bnp Paribas Arbitrage Sa’s portfolio.

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.

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