Riverpark Capital Management Lowers stake in American Tower Corp (AMT)

American Tower Corp (AMT) : Riverpark Capital Management reduced its stake in American Tower Corp by 4.07% during the most recent quarter end. The investment management company now holds a total of 77,538 shares of American Tower Corp which is valued at $8,973,473 after selling 3,288 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.American Tower Corp makes up approximately 4.06% of Riverpark Capital Management’s portfolio.

Other Hedge Funds, Including , Gilder Gagnon Howe Co reduced its stake in AMT by selling 806 shares or 0.83% in the most recent quarter. The Hedge Fund company now holds 95,913 shares of AMT which is valued at $11,100,011. American Tower Corp makes up approx 0.21% of Gilder Gagnon Howe Co’s portfolio.Conning boosted its stake in AMT in the latest quarter, The investment management firm added 10 additional shares and now holds a total of 12,197 shares of American Tower Corp which is valued at $1,434,489. American Tower Corp makes up approx 0.06% of Conning’s portfolio.Financial Architects Inc boosted its stake in AMT in the latest quarter, The investment management firm added 173 additional shares and now holds a total of 1,289 shares of American Tower Corp which is valued at $151,599. American Tower Corp makes up approx 0.04% of Financial Architects Inc’s portfolio.Winslow Evans Crocker reduced its stake in AMT by selling 274 shares or 3.17% in the most recent quarter. The Hedge Fund company now holds 8,378 shares of AMT which is valued at $987,264. American Tower Corp makes up approx 0.29% of Winslow Evans Crocker’s portfolio.

American Tower Corp opened for trading at $115.99 and hit $117 on the upside on Thursday, eventually ending the session at $116.42, with a gain of 0.60% or 0.69 points. The heightened volatility saw the trading volume jump to 17,73,786 shares. Company has a market cap of $49,535 M.

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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