Cantillon Capital Management LLC Has $278.28 Million Stock Position in American Tower Corporation $AMT

Key Points

• Cantillon Capital Management reduced its American Tower stake by 11.9% in the first quarter, selling 218,052 shares and ending with 1,612,473 shares valued at about $278.3 million.
• Wall Street remains upbeat on American Tower, with multiple analysts issuing buy or outperform ratings and a consensus target price of $215.57.
• American Tower reported strong quarterly results, beating EPS and revenue estimates, and it also paid a quarterly dividend of $1.79 per share, equal to an annualized yield of 4.2%.

Cantillon Capital Management LLC lowered its position in American Tower Corporation (NYSE:AMT - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,612,473 shares of the real estate investment trust's stock after selling 218,052 shares during the period. American Tower accounts for about 1.8% of Cantillon Capital Management LLC's holdings, making the stock its 26th biggest position. Cantillon Capital Management LLC owned approximately 0.35% of American Tower worth $278,281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV increased its stake in American Tower by 12.9% during the 1st quarter. KBC Group NV now owns 260,181 shares of the real estate investment trust's stock valued at $44,902,000 after purchasing an additional 29,631 shares in the last quarter. SEB Asset Management AB bought a new position in shares of American Tower in the first quarter valued at $18,525,000. Swiss National Bank lifted its stake in shares of American Tower by 7.1% in the first quarter. Swiss National Bank now owns 1,373,900 shares of the real estate investment trust's stock valued at $237,108,000 after buying an additional 90,800 shares in the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of American Tower during the first quarter valued at about $4,463,000. Finally, AIA Group Ltd grew its holdings in shares of American Tower by 8.0% during the first quarter. AIA Group Ltd now owns 68,285 shares of the real estate investment trust's stock valued at $11,785,000 after buying an additional 5,074 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMT shares. The Goldman Sachs Group started coverage on shares of American Tower in a report on Friday, June 26th. They issued a "buy" rating and a $215.00 target price on the stock. Raymond James Financial reissued a "strong-buy" rating and set a $240.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Scotiabank increased their price objective on American Tower from $214.00 to $218.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Wolfe Research upgraded American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 target price on the stock in a report on Wednesday, July 8th. Finally, Mizuho raised American Tower from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $215.57.

Insider Buying and Selling

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the business's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the transaction, the executive vice president owned 29,461 shares of the company's stock, valued at approximately $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company's stock.

American Tower Stock Up 0.0%

American Tower stock opened at $170.13 on Monday. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $234.33. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The firm's 50-day simple moving average is $177.64 and its 200 day simple moving average is $178.72. The stock has a market cap of $79.26 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 0.71 and a beta of 0.91.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter last year, the firm earned $2.75 EPS. The company's quarterly revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Research analysts predict that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, June 12th. American Tower's dividend payout ratio (DPR) is 115.67%.

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.

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