Cantillon Capital Management LLC Has $405.76 Million Holdings in American Tower Corporation $AMT

Cantillon Capital Management LLC cut its holdings in shares of American Tower Corporation (NYSE:AMT) by 2.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,835,851 shares of the real estate investment trust’s stock after selling 53,339 shares during the quarter. American Tower accounts for about 2.3% of Cantillon Capital Management LLC’s investment portfolio, making the stock its 20th largest holding. Cantillon Capital Management LLC owned 0.39% of American Tower worth $405,760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in American Tower in the 1st quarter valued at approximately $991,525,000. Price T Rowe Associates Inc. MD boosted its stake in American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after buying an additional 2,309,627 shares in the last quarter. Bessemer Group Inc. boosted its stake in American Tower by 272.0% in the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock valued at $247,390,000 after buying an additional 831,247 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in American Tower in the 1st quarter valued at $162,127,000. Finally, Amundi boosted its stake in American Tower by 35.5% in the 1st quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock valued at $645,694,000 after buying an additional 743,617 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Jefferies Financial Group cut their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Citigroup dropped their price objective on American Tower from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 16th. HSBC cut American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price for the company. in a research note on Wednesday, July 30th. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Finally, Barclays upped their price objective on American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.75.

Insider Buying and Selling

In other news, CEO Juan Font sold 720 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

American Tower Trading Down 0.4%

NYSE AMT opened at $192.35 on Wednesday. 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 Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The company 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 business’s fifty day moving average is $196.13 and its 200 day moving average is $209.39.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm 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 business earned $2.79 EPS. The business’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. As a group, sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s payout ratio is currently 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.