American Tower Corp (AMT) : Reliance Trust Co Of Delaware reduced its stake in American Tower Corp by 2.69% during the most recent quarter end. The investment management company now holds a total of 26,022 shares of American Tower Corp which is valued at $2,949,594 after selling 720 shares in American Tower Corp , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.American Tower Corp makes up approximately 0.27% of Reliance Trust Co Of Delaware’s portfolio.
Other Hedge Funds, Including , Bristlecone Advisors boosted its stake in AMT in the latest quarter, The investment management firm added 525 additional shares and now holds a total of 4,075 shares of American Tower Corp which is valued at $443,931. American Tower Corp makes up approx 0.16% of Bristlecone Advisors’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in AMT by selling 1,254 shares or 1.14% in the most recent quarter. The Hedge Fund company now holds 108,643 shares of AMT which is valued at $11,788,852. American Tower Corp makes up approx 0.25% of Exxonmobil Investment Management Inc Tx’s portfolio.Telemus Capital boosted its stake in AMT in the latest quarter, The investment management firm added 1,232 additional shares and now holds a total of 29,161 shares of American Tower Corp which is valued at $3,133,058. American Tower Corp makes up approx 0.35% of Telemus Capital’s portfolio.Bath Savings Trust Co boosted its stake in AMT in the latest quarter, The investment management firm added 3,565 additional shares and now holds a total of 32,265 shares of American Tower Corp which is valued at $3,466,552. American Tower Corp makes up approx 1.09% of Bath Savings Trust Co’s portfolio.
American Tower Corp opened for trading at $112.97 and hit $114.59 on the upside on Friday, eventually ending the session at $113.35, with a gain of 0.58% or 0.65 points. The heightened volatility saw the trading volume jump to 22,54,770 shares. Company has a market cap of $48,229 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.
Many Wall Street Analysts have commented on American Tower Corp. SunTrust Initiated American Tower Corp on Sep 13, 2016 to “Buy”, Price Target of the shares are set at $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.