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

Hudson Valley Investment Advisors Inc. ADV lowered its holdings in American Tower Co. (NYSE:AMT) by 12.2% in the fourth quarter, HoldingsChannel.com reports. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares during the period. Fairscale Capital LLC bought a new position in shares of American Tower in the second quarter worth about $27,000. Northwest Investment Counselors LLC bought a new stake in shares of American Tower during the 3rd quarter valued at approximately $30,000. Hara Capital LLC acquired a new position in American Tower during the 3rd quarter worth approximately $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the third quarter worth $34,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AMT shares. BMO Capital Markets reduced their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Scotiabank dropped their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $233.67.

American Tower Stock Performance

Shares of American Tower stock opened at $179.15 on Friday. The firm has a market capitalization of $83.71 billion, a P/E ratio of 75.59, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The business’s fifty day simple moving average is $195.74 and its 200 day simple moving average is $211.81. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the company posted $2.58 EPS. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.62%. American Tower’s payout ratio is 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.