American Tower Corp (AMT) : Rmb Capital Management reduced its stake in American Tower Corp by 5.62% during the most recent quarter end. The investment management company now holds a total of 129,695 shares of American Tower Corp which is valued at $15,009,602 after selling 7,730 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.American Tower Corp makes up approximately 1.03% of Rmb Capital Management’s portfolio.
Other Hedge Funds, Including , Ngam Advisors reduced its stake in AMT by selling 1,934 shares or 3.74% in the most recent quarter. The Hedge Fund company now holds 49,734 shares of AMT which is valued at $5,755,716. American Tower Corp makes up approx 0.08% of Ngam 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 -0.85 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.