Halbert Hargroverussell Lowers stake in American Tower Corp (AMT)

American Tower Corp (AMT) : Halbert Hargroverussell reduced its stake in American Tower Corp by 25.81% during the most recent quarter end. The investment management company now holds a total of 1,891 shares of American Tower Corp which is valued at $219,148 after selling 658 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.American Tower Corp makes up approximately 0.06% of Halbert Hargroverussell’s portfolio.

Other Hedge Funds, Including , Finemark National Bank Trust boosted its stake in AMT in the latest quarter, The investment management firm added 1,178 additional shares and now holds a total of 5,049 shares of American Tower Corp which is valued at $585,129. American Tower Corp makes up approx 0.06% of Finemark National Bank Trust’s portfolio. Dana Investment Advisors added AMT to its portfolio by purchasing 34,520 company shares during the most recent quarter which is valued at $4,024,342. American Tower Corp makes up approx 0.17% of Dana Investment Advisors’s portfolio.Telemus Capital reduced its stake in AMT by selling 1,235 shares or 4.23% in the most recent quarter. The Hedge Fund company now holds 27,929 shares of AMT which is valued at $3,288,081. American Tower Corp makes up approx 0.38% of Telemus Capital’s portfolio.

American Tower Corp closed down -0.71 points or -0.61% at $115.79 with 8,79,431 shares getting traded on Monday. Post opening the session at $116.62, the shares hit an intraday low of $115.76 and an intraday high of $117.11 and the price fluctuated in this range throughout the day.Shares ended Monday 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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