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

Cantillon Capital Management LLC trimmed its stake in shares of American Tower Corporation (NYSE:AMT) by 1.1% in the third quarter, HoldingsChannel.com reports. The fund owned 1,815,816 shares of the real estate investment trust’s stock after selling 20,035 shares during the quarter. American Tower comprises about 1.9% of Cantillon Capital Management LLC’s investment portfolio, making the stock its 27th biggest position. Cantillon Capital Management LLC’s holdings in American Tower were worth $349,218,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC raised its position in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC increased its stake in American Tower by 34.3% in the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after acquiring an additional 368 shares during the last quarter. Sheets Smith Wealth Management raised its position in American Tower by 4.5% during the second quarter. Sheets Smith Wealth Management now owns 1,613 shares of the real estate investment trust’s stock valued at $357,000 after purchasing an additional 69 shares in the last quarter. Fifth Third Bancorp lifted its stake in American Tower by 15.3% during the second quarter. Fifth Third Bancorp now owns 151,095 shares of the real estate investment trust’s stock worth $33,395,000 after purchasing an additional 20,001 shares during the last quarter. Finally, Norden Group LLC boosted its holdings in shares of American Tower by 4.9% in the 2nd quarter. Norden Group LLC now owns 4,997 shares of the real estate investment trust’s stock valued at $1,105,000 after purchasing an additional 233 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $176.93 on Friday. The stock 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. The business’s 50 day simple moving average is $177.61 and its 200 day simple 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. American Tower Corporation has a one year low of $166.88 and a one year high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period last year, the business posted $2.52 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

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

Insider Transactions at American Tower

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eugene F. Reilly purchased 5,554 shares of the business’s stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the acquisition, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMT. BMO Capital Markets cut 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 report on Friday, January 9th. Mizuho dropped their target price on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Morgan Stanley decreased their price target on shares of American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, December 4th. Raymond James Financial reiterated a “strong-buy” rating and set a $231.00 price objective (down from $250.00) on shares of American Tower in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.89.

About American Tower

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.