American Tower Corp (AMT) : Sitrin Capital Management reduced its stake in American Tower Corp by 3.93% during the most recent quarter end. The investment management company now holds a total of 45,656 shares of American Tower Corp which is valued at $4.8 Million after selling 1,870 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on May 11, 2016.American Tower Corp makes up approximately 3.83% of Sitrin Capital Management’s portfolio.
Other Hedge Funds, Including , Reaves W H Co Inc reduced its stake in AMT by selling 58,622 shares or 8.63% in the most recent quarter. The Hedge Fund company now holds 620,319 shares of AMT which is valued at $65.6 Million. American Tower Corp makes up approx 2.34% of Reaves W H Co Inc’s portfolio.California Public Employees Retirement System reduced its stake in AMT by selling 800 shares or 0.08% in the most recent quarter. The Hedge Fund company now holds 1,063,201 shares of AMT which is valued at $113.3 Million. American Tower Corp makes up approx 0.18% of California Public Employees Retirement System’s portfolio.Tributary Capital Management boosted its stake in AMT in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 12,000 shares of American Tower Corp which is valued at $1.3 Million. American Tower Corp makes up approx 0.20% of Tributary Capital Management’s portfolio. Cantillon Capital Management added AMT to its portfolio by purchasing 755,900 company shares during the most recent quarter which is valued at $79.3 Million. American Tower Corp makes up approx 1.38% of Cantillon Capital Management’s portfolio.Commonwealth Equity Services Inc reduced its stake in AMT by selling 1,615 shares or 3.68% in the most recent quarter. The Hedge Fund company now holds 42,240 shares of AMT which is valued at $4.4 Million. American Tower Corp makes up approx 0.04% of Commonwealth Equity Services Inc’s portfolio.
American Tower Corp opened for trading at $105.75 and hit $106.72 on the upside on Monday, eventually ending the session at $106.48, with a gain of 0.74% or 0.78 points. The heightened volatility saw the trading volume jump to 16,20,907 shares. Company has a market cap of $45,214 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.