American Tower Corp (AMT) : Paradigm Financial Advisors reduced its stake in American Tower Corp by 2.45% during the most recent quarter end. The investment management company now holds a total of 53,307 shares of American Tower Corp which is valued at $6,269,436 after selling 1,340 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.American Tower Corp makes up approximately 3.69% of Paradigm Financial Advisors’s portfolio.
Other Hedge Funds, Including , Retirement Systems Of Alabama reduced its stake in AMT by selling 12,992 shares or 2.71% in the most recent quarter. The Hedge Fund company now holds 467,146 shares of AMT which is valued at $54,941,041. American Tower Corp makes up approx 0.31% of Retirement Systems Of Alabama’s portfolio.Fragasso Group boosted its stake in AMT in the latest quarter, The investment management firm added 239 additional shares and now holds a total of 10,417 shares of American Tower Corp which is valued at $1,208,476. American Tower Corp makes up approx 0.44% of Fragasso Group’s portfolio.
American Tower Corp closed down -0.88 points or -0.75% at $115.77 with 22,96,817 shares getting traded on Friday. Post opening the session at $116.26, the shares hit an intraday low of $115.56 and an intraday high of $116.451 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.
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 .
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.