American Tower Corp (AMT) : Vontobel Asset Management Inc reduced its stake in American Tower Corp by 8.88% during the most recent quarter end. The investment management company now holds a total of 1,696,478 shares of American Tower Corp which is valued at $185,645,588 after selling 165,338 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.American Tower Corp makes up approximately 1.47% of Vontobel Asset Management Inc’s portfolio.
Other Hedge Funds, Including , Dorsey Wright Associates added AMT to its portfolio by purchasing 7,148 company shares during the most recent quarter which is valued at $782,206. American Tower Corp makes up approx 0.39% of Dorsey Wright Associates’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.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.Chevy Chase Trust Holdings reduced its stake in AMT by selling 7,626 shares or 2.09% in the most recent quarter. The Hedge Fund company now holds 356,440 shares of AMT which is valued at $38,295,914. American Tower Corp makes up approx 0.21% of Chevy Chase Trust Holdings’s portfolio.Washington Trust Bank boosted its stake in AMT in the latest quarter, The investment management firm added 289 additional shares and now holds a total of 12,566 shares of American Tower Corp which is valued at $1,350,091. American Tower Corp makes up approx 0.32% of Washington Trust Bank’s portfolio.
American Tower Corp closed down -0.49 points or -0.45% at $108.94 with 14,83,201 shares getting traded on Tuesday. Post opening the session at $109.17, the shares hit an intraday low of $108.24 and an intraday high of $109.48 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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.