American Tower Corp (AMT) : Nichols Asset Management reduced its stake in American Tower Corp by 6.25% during the most recent quarter end. The investment management company now holds a total of 4,500 shares of American Tower Corp which is valued at $468,855 after selling 300 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.American Tower Corp makes up approximately 0.10% of Nichols Asset Management’s portfolio.
American Tower Corp closed down -0.28 points or -0.27% at $104.49 with 16,13,465 shares getting traded on Wednesday. Post opening the session at $104.53, the shares hit an intraday low of $103.8 and an intraday high of $105.28 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Other Hedge Funds, Including , Sigma Planning Corp reduced its stake in AMT by selling 567 shares or 19.41% in the most recent quarter. The Hedge Fund company now holds 2,354 shares of AMT which is valued at $245,263. American Tower Corp makes up approx 0.03% of Sigma Planning Corp’s portfolio. Osborne Partners Capital Management added AMT to its portfolio by purchasing 5,920 company shares during the most recent quarter which is valued at $626,218. American Tower Corp makes up approx 0.09% of Osborne Partners Capital Management’s portfolio. Abner Herrman Brock added AMT to its portfolio by purchasing 2,569 company shares during the most recent quarter which is valued at $272,340. American Tower Corp makes up approx 0.07% of Abner Herrman Brock’s portfolio.
On the company’s financial health, American Tower Corp reported $1.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Feb 26, 2016. Analyst had a consensus of $1.18. The company had revenue of $1280.00 million for the quarter, compared to analysts expectations of $1251.79 million. The company’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS.
Many Wall Street Analysts have commented on American Tower Corp. Company shares were Reiterated by RBC Capital Mkts on Mar 1, 2016 to “Outperform”, Firm has raised the Price Target to $ 128 from a previous price target of $122 .Company shares were Reiterated by Barclays on Feb 29, 2016 to “Overweight”, Firm has raised the Price Target to $ 109 from a previous price target of $107 .Deutsche Bank Initiated American Tower Corp on Feb 24, 2016 to “Buy”, Price Target of the shares are set at $104.
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.