Cantillon Capital Management LLC Sells 57,953 Shares of American Tower Co. (NYSE:AMT)

Cantillon Capital Management LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,937,252 shares of the real estate investment trust's stock after selling 57,953 shares during the quarter. American Tower makes up approximately 2.8% of Cantillon Capital Management LLC's portfolio, making the stock its 18th biggest position. Cantillon Capital Management LLC owned approximately 0.41% of American Tower worth $450,527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in American Tower by 41.8% in the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust's stock valued at $1,243,333,000 after buying an additional 1,885,421 shares during the last quarter. Clearbridge Investments LLC lifted its stake in American Tower by 8.9% in the second quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust's stock valued at $720,206,000 after buying an additional 302,676 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in American Tower by 16.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust's stock valued at $643,571,000 after buying an additional 464,429 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in American Tower by 4.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,536,255 shares of the real estate investment trust's stock valued at $298,617,000 after buying an additional 69,300 shares during the last quarter. Finally, ClearBridge Investments Ltd lifted its stake in American Tower by 6.2% in the second quarter. ClearBridge Investments Ltd now owns 1,442,759 shares of the real estate investment trust's stock valued at $280,443,000 after buying an additional 84,180 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BMO Capital Markets cut their price target on American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Scotiabank cut their price target on American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a research note on Wednesday, October 30th. TD Cowen upped their price target on American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price objective on American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. upped their price objective on American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, September 23rd. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, American Tower has a consensus rating of "Moderate Buy" and an average price target of $235.54.

American Tower Stock Up 1.2 %

NYSE AMT traded up $2.33 on Tuesday, reaching $201.17. The stock had a trading volume of 2,513,873 shares, compared to its average volume of 2,324,283. The business has a 50 day moving average price of $220.88 and a 200 day moving average price of $211.37. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a market capitalization of $94.00 billion, a price-to-earnings ratio of 84.88, a P/E/G ratio of 1.31 and a beta of 0.84.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.77 billion. During the same quarter last year, the firm earned $2.58 EPS. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. On average, analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.22%. American Tower's dividend payout ratio (DPR) is presently 273.42%.

About American Tower

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.