Cim Investment Management Inc. Has $1.13 Million Stake in American Tower Corporation $AMT

Cim Investment Management Inc. reduced its holdings in American Tower Corporation (NYSE:AMT) by 50.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,871 shares of the real estate investment trust’s stock after selling 6,017 shares during the quarter. Cim Investment Management Inc.’s holdings in American Tower were worth $1,129,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Abound Wealth Management boosted its stake in American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 81 shares during the period. Triumph Capital Management bought a new position in American Tower in the 3rd quarter worth approximately $29,000. Root Financial Partners LLC acquired a new position in shares of American Tower during the third quarter worth approximately $32,000. Physician Wealth Advisors Inc. boosted its position in shares of American Tower by 85.9% in the third quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 79 shares during the period. Finally, Westside Investment Management Inc. boosted its position in shares of American Tower by 103.6% in the third quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 86 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped 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. Weiss Ratings reissued a “hold (c)” rating on shares of American Tower in a report on Monday, December 29th. Sanford C. Bernstein assumed coverage on shares of American Tower in a research report on Thursday, March 5th. They issued a “market perform” rating and a $205.00 price target on the stock. The Goldman Sachs Group cut their price objective on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Finally, Barclays reiterated an “equal weight” rating and issued a $200.00 target price (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.35.

Insider Buying and Selling

In related news, Director Rajesh Kalathur purchased 2,671 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the purchase, the director owned 4,936 shares in the company, valued at approximately $914,640.80. This represents a 117.92% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total value of $7,872,979.45. Following the sale, the chief operating officer directly owned 29,592 shares in the company, valued at $5,653,551.60. This represents a 58.20% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Up 0.1%

AMT stock opened at $184.93 on Wednesday. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $86.19 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 0.78 and a beta of 0.92. The business’s fifty day moving average price is $181.77 and its two-hundred day moving average price is $183.69.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.79). American Tower had a net margin of 23.76% and a return on equity of 24.36%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the firm posted $2.62 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a yield of 3.9%. This is an increase from American Tower’s previous quarterly dividend of $1.70. American Tower’s payout ratio is presently 132.84%.

American Tower Company Profile

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.