Cantillon Capital Management LLC Sells 53,339 Shares of American Tower Corporation $AMT

Cantillon Capital Management LLC cut its holdings in American Tower Corporation (NYSE:AMT) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,835,851 shares of the real estate investment trust’s stock after selling 53,339 shares during the quarter. American Tower makes up approximately 2.3% of Cantillon Capital Management LLC’s holdings, making the stock its 20th largest holding. Cantillon Capital Management LLC’s holdings in American Tower were worth $405,760,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Blossom Wealth Management lifted its holdings 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 worth $575,000 after buying an additional 45 shares during the period. TFG Advisers LLC raised its holdings in American Tower by 0.3% in the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock worth $3,578,000 after acquiring an additional 47 shares during the last quarter. Novem Group raised its holdings in American Tower by 3.8% in the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 48 shares during the last quarter. Cypress Wealth Services LLC grew its position in American Tower by 1.9% in the 2nd quarter. Cypress Wealth Services LLC now owns 2,684 shares of the real estate investment trust’s stock worth $593,000 after purchasing an additional 49 shares during the period. Finally, Elmwood Wealth Management Inc. grew its position in American Tower by 2.5% in the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 50 shares during the period. 92.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMT. JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. Morgan Stanley decreased their target price on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Finally, Raymond James Financial set a $250.00 price target on shares of American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $236.75.

American Tower Stock Down 0.4%

Shares of NYSE AMT opened at $192.35 on Wednesday. The company’s 50-day simple moving average is $196.13 and its 200-day simple moving average is $209.39. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The firm has a market cap of $90.07 billion, a price-to-earnings ratio of 69.95, a price-to-earnings-growth ratio of 1.17 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. American Tower’s quarterly revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.5%. The ex-dividend date was Tuesday, September 30th. American Tower’s payout ratio is 247.27%.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.