Mariner Reduces $5M in American Tower Corporation ($AMT)
Key Points
- Mariner changed its American Tower Corporation ($AMT) stake by 5.3% last quarter, cutting to 447,765 shares worth $84.76 million.
- Wall Street's consensus rating on $AMT is Buy and an average price target of $216.14.
- $AMT last traded around $189.29.
Mariner trimmed its position in American Tower Corporation ($AMT) by 5.3% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 447,765 shares of American Tower Corporation after selling 24,972 shares during the quarter. Mariner's holdings in American Tower Corporation were worth $84.76 million as of its most recent filing.
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About American Tower Corporation
American Tower Corporation is one of the largest global real estate investment trusts. It is a leading independent owner, operator and developer of multitenant communications real estate. The Company's primary business is the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a few other industries. The Company refers to this business, inclusive of its data center business discussed below, as its property operations. Additionally, the Company offers tower-related services in the United States, which the Company refers to as its services operations. These services include site application, zoning and permitting, structural and mount analyses, and construction management services, together with program management offerings that support customer deployment needs from project scoping through construction. The Company's services operations primarily support the Company's site leasing business, including through the addition of new tenants and equipment on its sites. The Company's customers include its tenants, licensees and other payers. American Tower Corporation was incorporated in 1995 in Delaware and is based in Massachusetts, Boston.
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