American Assets Capital Advisers Lowers stake in American Tower Corp (AMT)

American Tower Corp (AMT) : American Assets Capital Advisers reduced its stake in American Tower Corp by 0.37% during the most recent quarter end. The investment management company now holds a total of 64,046 shares of American Tower Corp which is valued at $7,461,359 after selling 236 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.American Tower Corp makes up approximately 4.68% of American Assets Capital Advisers’s portfolio.

Other Hedge Funds, Including , Parsons Capital Management Incri reduced its stake in AMT by selling 739 shares or 1.14% in the most recent quarter. The Hedge Fund company now holds 63,842 shares of AMT which is valued at $7,437,593. American Tower Corp makes up approx 0.98% of Parsons Capital Management Incri’s portfolio.Boston Family Office reduced its stake in AMT by selling 59 shares or 0.05% in the most recent quarter. The Hedge Fund company now holds 125,956 shares of AMT which is valued at $14,683,950. American Tower Corp makes up approx 1.85% of Boston Family Office’s portfolio.Rehmann Capital Advisory Group reduced its stake in AMT by selling 35 shares or 1.22% in the most recent quarter. The Hedge Fund company now holds 2,838 shares of AMT which is valued at $333,777. American Tower Corp makes up approx 0.06% of Rehmann Capital Advisory Group’s portfolio.Mai Capital Management boosted its stake in AMT in the latest quarter, The investment management firm added 25 additional shares and now holds a total of 21,980 shares of American Tower Corp which is valued at $2,556,274. American Tower Corp makes up approx 0.20% of Mai Capital Management’s portfolio.

American Tower Corp closed down -0.74 points or -0.65% at $113.61 with 30,96,721 shares getting traded on Friday. Post opening the session at $114.18, the shares hit an intraday low of $113.25 and an intraday high of $114.57 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

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.

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