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ClearBridge Investments, an funding administration firm, launched its “ClearBridge World Infrastructure Worth Technique” second quarter 2022 investor letter. A duplicate of the letter might be downloaded right here. Within the second quarter, the fund underperformed relative to the S&P World Infrastructure Index. The utilities with clear power portfolios contributed positively to the fund’s efficiency however fears of recession affected the rail firms. For extra data on the fund’s finest picks in 2022, please examine its prime 5 holdings.
Within the letter, ClearBridge Investments mentioned the efficiency of the ClearBridge World Infrastructure Worth Technique portfolio. American Tower Company (NYSE:AMT) was a number one contributor to the technique within the second quarter. Headquartered in Boston, Massachusetts, American Tower Company (NYSE:AMT) is a REIT and operator and proprietor of wi-fi and broadcast communications infrastructure. The inventory of American Tower Company (NYSE:AMT) closed at $273.00 on August 8, 2022. One-month return of American Tower Company (NYSE:AMT) was 6.85% and its shares misplaced 0.84% of their worth during the last 52 weeks. It has a market capitalization of $127.105 billion.
This is what ClearBridge World Infrastructure Worth Technique particularly instructed about American Tower Company (NYSE:AMT):
“The main contributor for the quarter was American Tower Company (NYSE:AMT), a number one unbiased proprietor, operator and developer of wi-fi and broadcast communications infrastructure. The corporate has 41,000 websites within the U.S. and an additional 139,000 websites throughout 19 international locations, predominantly in rising markets (75,000 in India, 40,000 in Latin America and 18,000 in Africa). Shares outperformed as traders grew petrified of an impending recession and positioned portfolios in comparatively economically insulated firms equivalent to towers. American Tower additionally efficiently raised fairness to fund a current acquisition, lifting an overhang that had been dragging on the inventory’s efficiency.”
Copyright: bluebay / 123RF Inventory Picture
Though American Tower Company (NYSE:AMT) is the fund’s main contributor, it isn’t among the many 30 Most Common Shares Amongst Hedge Funds. As per our database, American Tower Company (NYSE:AMT) was held by 50 hedge fund portfolios on the finish of the primary quarter which was 53 within the earlier quarter.
We mentioned American Tower Company (NYSE:AMT) in one other article and shared Richie Capital Group’s insights on the corporate. You’ll be able to try our hedge fund investor letters Q2 2022 web page for extra investor letters from hedge funds and different distinguished traders.
Disclosure: None. This text is initially revealed at Insider Monkey.
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