Chemical Bank Has Increased Its Position in American Tower Reit (AMT) by $359,165; As Bank Amer (BAC) Shares Declined, Holder Wexford Capital LP Raised Holding

June 18, 2018 - By Linda Rogers

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Chemical Bank increased its stake in American Tower Corp Reit (AMT) by 76.57% based on its latest 2018Q1 regulatory filing with the SEC. Chemical Bank bought 2,477 shares as the company’s stock declined 4.49% with the market. The institutional investor held 5,712 shares of the real estate investment trusts company at the end of 2018Q1, valued at $830,000, up from 3,235 at the end of the previous reported quarter. Chemical Bank who had been investing in American Tower Corp Reit for a number of months, seems to be bullish on the $61.20 billion market cap company. The stock increased 0.15% or $0.21 during the last trading session, reaching $138.56. About 3.09 million shares traded or 35.17% up from the average. American Tower Corporation (NYSE:AMT) has risen 4.03% since June 18, 2017 and is uptrending. It has underperformed by 8.54% the S&P500.

Charles Davidson increased its stake in Bank Amer Corp (BAC) by 4.3% based on its latest 2018Q1 regulatory filing with the SEC. Wexford Capital Lp bought 12,762 shares as the company’s stock declined 6.97% with the market. The hedge fund run by Charles Davidson held 309,622 shares of the major banks company at the end of 2018Q1, valued at $9.29 million, up from 296,860 at the end of the previous reported quarter. Wexford Capital Lp who had been investing in Bank Amer Corp for a number of months, seems to be bullish on the $296.88 billion market cap company. The stock decreased 0.75% or $0.22 during the last trading session, reaching $29.28. About 105.08 million shares traded or 54.54% up from the average. Bank of America Corporation (NYSE:BAC) has risen 29.72% since June 18, 2017 and is uptrending. It has outperformed by 17.15% the S&P500. Some Historical BAC News: 14/05/2018 – Homology Medicines at Bank of America Conference Tomorrow; 04/05/2018 – BUYOUT FIRM WORKING WITH BANK OF AMERICA, NOMURA TO SEEK BUYERS; 11/05/2018 – Tenet to Participate in the Bank of America Merrill Lynch 2018 Healthcare Conference; 14/05/2018 – Alcoa Presenting at Bank of America Conference Tomorrow; 23/05/2018 – BofA Is Said to Name Zapparoli, Gadkari to Head Capital Markets; 11/05/2018 – BANK OF AMERICA’S PACKLES, CAVAN YANG ARE SAID TO LEAVE FIRM; 09/03/2018 – JPMorgan Poaches Bank of America Energy Banker for EMEA; 09/05/2018 – FLUOR CORP FLR.N : BOFA MERRILL RAISES TO BUY FROM UNDERPERFORM – TRADERS; 06/04/2018 – MAIDEN HOLDINGS APPOINTS BOFA MERRILL LYNCH TO MANAGE STRATEGIC REVIEW PROCESS; 16/05/2018 – Hedge Funds Buy VICI Properties, Sell BofA in Financials: 13F

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Benzinga.com which released: “A Concerning Weakness In Bank Stocks” on June 16, 2018, also Seekingalpha.com with their article: “US banks fall as ECB keeps rates unchanged, day after Fed raises” published on June 14, 2018, Bizjournals.com published: “CBJ Morning Buzz: BofA to pay $15M settlement; Movement on I-77 changes; Kohl’s to add store here” on June 13, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Seekingalpha.com and their article: “Bank Of America: More Tailwinds” published on June 03, 2018 as well as Fool.com‘s news article titled: “How Wells Fargo Is Following in Bank of America’s Footsteps” with publication date: June 11, 2018.

Wexford Capital Lp, which manages about $6.34 billion and $1.37 billion US Long portfolio, decreased its stake in Energy Transfer Partners Lp by 197,097 shares to 324,535 shares, valued at $5.26 million in 2018Q1, according to the filing. It also reduced its holding in Diamondback Energy Inc (NASDAQ:FANG) by 111,165 shares in the quarter, leaving it with 314,643 shares, and cut its stake in Norfolk Southern Corp (NYSE:NSC).

Investors sentiment decreased to 0.95 in 2018 Q1. Its down 0.24, from 1.19 in 2017Q4. It fall, as 73 investors sold BAC shares while 633 reduced holdings. 134 funds opened positions while 535 raised stakes. 6.66 billion shares or 2.67% less from 6.85 billion shares in 2017Q4 were reported. State Bank Of The Ozarks has 83,656 shares for 1% of their portfolio. 118,978 were reported by Essex Inv Limited Liability Company. 369,353 are held by Edge Wealth Ltd Liability Com. Perkins Capital invested in 0.81% or 30,050 shares. Firefly Value Limited Partnership invested in 3.56% or 1.32 million shares. Hartford Fincl Mgmt Inc reported 21,986 shares or 0.33% of all its holdings. 639,735 are held by Davidson Inv. 334,450 were reported by Riggs Asset Managment Company Inc. Cap Guardian reported 2,000 shares or 0% of all its holdings. Griffin Asset has invested 0.43% in Bank of America Corporation (NYSE:BAC). British Columbia Management holds 1.03% of its portfolio in Bank of America Corporation (NYSE:BAC) for 4.51M shares. Stone Ridge Asset Limited Liability Corp has invested 0.44% of its portfolio in Bank of America Corporation (NYSE:BAC). St Johns Investment Management Limited Liability Company holds 2.44% or 107,766 shares in its portfolio. Sawgrass Asset Ltd Llc holds 0.05% or 32,954 shares in its portfolio. Northeast Inv Mgmt has 0.47% invested in Bank of America Corporation (NYSE:BAC).

Among 33 analysts covering Bank of America (NYSE:BAC), 22 have Buy rating, 0 Sell and 11 Hold. Therefore 67% are positive. Bank of America had 114 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Wednesday, July 13 by Berenberg. Wood downgraded it to “Market Perform” rating and $16 target in Monday, May 16 report. Robert W. Baird maintained it with “Hold” rating and $24.0 target in Tuesday, October 31 report. Robert W. Baird upgraded the shares of BAC in report on Tuesday, September 1 to “Buy” rating. On Friday, August 25 the stock rating was maintained by Robert W. Baird with “Hold”. Wells Fargo maintained the stock with “Outperform” rating in Thursday, August 10 report. Vining Sparks initiated the stock with “Buy” rating in Monday, April 16 report. The company was downgraded on Tuesday, November 8 by Deutsche Bank. RBC Capital Markets maintained Bank of America Corporation (NYSE:BAC) rating on Friday, October 6. RBC Capital Markets has “Buy” rating and $26.0 target. On Thursday, April 7 the stock rating was maintained by JP Morgan with “Overweight”.

Investors sentiment decreased to 1.18 in 2018 Q1. Its down 0.07, from 1.25 in 2017Q4. It fall, as 49 investors sold AMT shares while 291 reduced holdings. 94 funds opened positions while 308 raised stakes. 389.87 million shares or 3.17% more from 377.89 million shares in 2017Q4 were reported. Jpmorgan Chase & reported 1.64 million shares. Comerica Incorporated holds 2,661 shares or 0.05% of its portfolio. Waterfront Capital Prns Llc has invested 2.61% in American Tower Corporation (NYSE:REIT). Price T Rowe Associates Md reported 13.76 million shares. Schmidt P J Mngmt Inc reported 0.51% in American Tower Corporation (NYSE:REIT). Wright Service stated it has 3,829 shares or 0.19% of all its holdings. Seabridge Invest Advsr Lc owns 200 shares. Meiji Yasuda Asset Management Com Ltd accumulated 9,736 shares. Hightower Advsr Limited Liability invested in 0.08% or 66,527 shares. Segment Wealth Mgmt Limited Company has 0.84% invested in American Tower Corporation (NYSE:REIT). Pittenger & Anderson holds 0.71% of its portfolio in American Tower Corporation (NYSE:REIT) for 55,540 shares. Nbw Capital Ltd Llc holds 1.73% or 38,062 shares. Citigroup owns 0.05% invested in American Tower Corporation (NYSE:REIT) for 420,782 shares. Nomura Asset Mngmt Communications accumulated 60,900 shares or 0.1% of the stock. Thrivent Financial For Lutherans holds 226,194 shares or 0.11% of its portfolio.

Chemical Bank, which manages about $915.12M US Long portfolio, decreased its stake in Jp Morgan Chase & Co (NYSE:JPM) by 3,747 shares to 142,828 shares, valued at $15.71 million in 2018Q1, according to the filing. It also reduced its holding in Vanguard Dividend Apprec Etf (VIG) by 7,050 shares in the quarter, leaving it with 8,303 shares, and cut its stake in General Electric Corp (NYSE:GE).

Among 19 analysts covering American Tower Corporation (NYSE:AMT), 18 have Buy rating, 0 Sell and 1 Hold. Therefore 95% are positive. American Tower Corporation had 73 analyst reports since August 6, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Wednesday, November 29 by RBC Capital Markets. The rating was maintained by Deutsche Bank with “Buy” on Friday, July 14. As per Monday, October 2, the company rating was maintained by RBC Capital Markets. The stock of American Tower Corporation (NYSE:REIT) earned “Buy” rating by Jefferies on Monday, September 11. The stock of American Tower Corporation (NYSE:REIT) earned “Hold” rating by Zacks on Wednesday, August 26. Jefferies maintained American Tower Corporation (NYSE:REIT) on Friday, July 29 with “Buy” rating. As per Thursday, August 3, the company rating was maintained by Argus Research. On Wednesday, December 6 the stock rating was maintained by SunTrust with “Buy”. Cowen & Co maintained it with “Buy” rating and $161.0 target in Thursday, September 21 report. The firm has “Buy” rating given on Thursday, July 27 by Oppenheimer.

Since January 2, 2018, it had 0 insider purchases, and 8 sales for $24.06 million activity. 28,291 shares were sold by HESS WILLIAM H, worth $4.11M on Saturday, March 10. TAICLET JAMES D JR had sold 43,843 shares worth $5.94 million. Sharma Amit had sold 32,943 shares worth $4.57 million. $1.99 million worth of American Tower Corporation (NYSE:REIT) was sold by DiSanto Edmund. $715,800 worth of American Tower Corporation (NYSE:REIT) was sold by THOMPSON SAMME L on Tuesday, January 2.

Bank of America Corporation (NYSE:BAC) Institutional Positions Chart

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