Cantillon Capital Management LLC Sells 20,035 Shares of American Tower Corporation $AMT

Cantillon Capital Management LLC reduced its holdings in shares of American Tower Corporation (NYSE:AMT) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,815,816 shares of the real estate investment trust’s stock after selling 20,035 shares during the quarter. American Tower makes up approximately 1.9% of Cantillon Capital Management LLC’s holdings, making the stock its 27th biggest position. Cantillon Capital Management LLC owned approximately 0.39% of American Tower worth $349,218,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AMT. Blossom Wealth Management grew its position in American Tower by 1.8% in the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 45 shares in the last quarter. TFG Advisers LLC boosted its stake in shares of American Tower by 0.3% during the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock worth $3,578,000 after buying an additional 47 shares during the last quarter. Novem Group grew its holdings in shares of American Tower by 3.8% in the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 48 shares in the last quarter. Analyst IMS Investment Management Services Ltd. increased its position in shares of American Tower by 3.6% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock valued at $303,000 after acquiring an additional 48 shares during the last quarter. Finally, Marion Wealth Management raised its holdings in American Tower by 0.8% during the second quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock worth $1,309,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of AMT opened at $176.93 on Friday. The company’s 50-day moving average is $177.61 and its 200-day moving average is $192.24. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $82.83 billion, a PE ratio of 28.26, a PEG ratio of 0.72 and a beta of 0.92. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. American Tower’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Insider Buying and Selling at American Tower

In other American Tower news, Director Eugene F. Reilly bought 5,554 shares of American Tower stock in a transaction dated Friday, October 31st. The stock was bought at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the transaction, the director owned 5,689 shares in the company, valued at $1,018,274.11. The trade was a 4,114.07% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the transaction, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AMT. BMO Capital Markets lowered American Tower from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $210.00 to $185.00 in a research report on Friday, January 9th. New Street Research upgraded shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 target price on the stock in a report on Monday, January 5th. Scotiabank cut their price target on shares of American Tower from $248.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, January 14th. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Finally, Royal Bank Of Canada cut their target price on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a research note on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $218.89.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.