Hudson Valley Investment Advisors Inc. ADV Has $1.07 Million Stake in American Tower Co. (NYSE:AMT)

Hudson Valley Investment Advisors Inc. ADV trimmed its holdings in American Tower Co. (NYSE:AMT) by 12.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,830 shares of the real estate investment trust’s stock after selling 808 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in American Tower were worth $1,069,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMT. State Street Corp raised its position in American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after purchasing an additional 635,726 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of American Tower by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after buying an additional 204,426 shares during the period. FMR LLC boosted its holdings in American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after acquiring an additional 2,152,646 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of American Tower by 41.8% in the 2nd 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 purchasing an additional 1,885,421 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of American Tower by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after buying an additional 243,061 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BMO Capital Markets decreased their price objective 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. Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, Scotiabank decreased their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.67.

American Tower Stock Up 1.1 %

Shares of AMT stock opened at $179.15 on Friday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a market cap of $83.71 billion, a price-to-earnings ratio of 75.59, a PEG ratio of 1.31 and a beta of 0.84. The firm’s 50-day moving average is $195.74 and its 200-day moving average is $211.81. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.58 earnings per share. Sell-side analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio 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.