American Tower Corp (AMT) : Washington Trust Bank scooped up 289 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 4, 2016. The investment management firm now holds a total of 12,566 shares of American Tower Corp which is valued at $1,350,091.American Tower Corp makes up approximately 0.32% of Washington Trust Bank’s portfolio.
Other Hedge Funds, Including , Bath Savings Trust Co boosted its stake in AMT in the latest quarter, The investment management firm added 3,565 additional shares and now holds a total of 32,265 shares of American Tower Corp which is valued at $3,466,552. American Tower Corp makes up approx 1.09% of Bath Savings Trust Co’s portfolio.Cullinan Associates Inc reduced its stake in AMT by selling 4,630 shares or 11.51% in the most recent quarter. The Hedge Fund company now holds 35,600 shares of AMT which is valued at $3,824,864. American Tower Corp makes up approx 0.33% of Cullinan Associates Inc’s portfolio.
American Tower Corp closed down -1.64 points or -1.46% at $110.61 with 25,72,437 shares getting traded on Tuesday. Post opening the session at $112.25, the shares hit an intraday low of $110.18 and an intraday high of $112.25 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.