American Tower Corp (AMT) : Grand Jean Capital Management Inc reduced its stake in American Tower Corp by 4.39% during the most recent quarter end. The investment management company now holds a total of 176,129 shares of American Tower Corp which is valued at $18.6 Million after selling 8,085 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on May 13, 2016.American Tower Corp makes up approximately 7.91% of Grand Jean Capital Management Inc’s portfolio.
Other Hedge Funds, Including , Tiaa Cref Investment Management reduced its stake in AMT by selling 455,920 shares or 17.43% in the most recent quarter. The Hedge Fund company now holds 2,159,457 shares of AMT which is valued at $230.1 Million. American Tower Corp makes up approx 0.17% of Tiaa Cref Investment Management’s portfolio.Front Barnett Associates reduced its stake in AMT by selling 200 shares or 0.73% in the most recent quarter. The Hedge Fund company now holds 27,328 shares of AMT which is valued at $2.9 Million. American Tower Corp makes up approx 0.59% of Front Barnett Associates’s portfolio.Alliance Trust Plc reduced its stake in AMT by selling 18,700 shares or 2.08% in the most recent quarter. The Hedge Fund company now holds 878,957 shares of AMT which is valued at $93.7 Million. American Tower Corp makes up approx 4.51% of Alliance Trust Plc’s portfolio.Russell Frank Co reduced its stake in AMT by selling 36,978 shares or 2.5% in the most recent quarter. The Hedge Fund company now holds 1,439,328 shares of AMT which is valued at $151 Million. American Tower Corp makes up approx 0.26% of Russell Frank Co’s portfolio.
American Tower Corp opened for trading at $106 and hit $106.47 on the upside on Wednesday, eventually ending the session at $106.17, with a gain of 0.83% or 0.87 points. The heightened volatility saw the trading volume jump to 13,11,783 shares. Company has a market cap of $45,082 M.
On the company’s financial health, American Tower Corp reported $1.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $1.26. The company had revenue of $1289.00 million for the quarter, compared to analysts expectations of $1286.27 million. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS.
Many Wall Street Analysts have commented on American Tower Corp. Company shares were Reiterated by RBC Capital Mkts on May 2, 2016 to “Outperform”, Firm has raised the Price Target to $ 132 from a previous price target of $128 .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 .
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.