Jennison Associates buys $937,845,483 stake in American Tower Corp (AMT)

American Tower Corp (AMT) : Jennison Associates scooped up 270,233 additional shares in American Tower Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 8,103,737 shares of American Tower Corp which is valued at $937,845,483.American Tower Corp makes up approximately 0.98% of Jennison Associates’s portfolio.

Other Hedge Funds, Including , Swiss National Bank boosted its stake in AMT in the latest quarter, The investment management firm added 69,500 additional shares and now holds a total of 1,668,526 shares of American Tower Corp which is valued at $193,098,514. American Tower Corp makes up approx 0.30% of Swiss National Bank’s portfolio.Miller Howard Investments Inc Ny reduced its stake in AMT by selling 5,305 shares or 10.26% in the most recent quarter. The Hedge Fund company now holds 46,386 shares of AMT which is valued at $5,466,126. American Tower Corp makes up approx 0.10% of Miller Howard Investments Inc Ny’s portfolio.Macguire Cheswick Tuttle Investment Counsel boosted its stake in AMT in the latest quarter, The investment management firm added 725 additional shares and now holds a total of 15,000 shares of American Tower Corp which is valued at $1,767,600. American Tower Corp makes up approx 0.38% of Macguire Cheswick Tuttle Investment Counsel’s portfolio.Private Trust Co Na boosted its stake in AMT in the latest quarter, The investment management firm added 5,594 additional shares and now holds a total of 12,501 shares of American Tower Corp which is valued at $1,471,743. American Tower Corp makes up approx 0.37% of Private Trust Co Na’s portfolio.Davis R M Inc boosted its stake in AMT in the latest quarter, The investment management firm added 11,512 additional shares and now holds a total of 332,534 shares of American Tower Corp which is valued at $38,673,704. American Tower Corp makes up approx 1.85% of Davis R M Inc’s portfolio.

American Tower Corp closed down -0.85 points or -0.73% at $115.73 with 15,49,011 shares getting traded on Monday. Post opening the session at $116.54, the shares hit an intraday low of $115.575 and an intraday high of $116.8 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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