Hudson Valley Investment Advisors Inc. ADV Sells 1,785 Shares of American Tower Co. (NYSE:AMT)

Hudson Valley Investment Advisors Inc. ADV reduced its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 30.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,045 shares of the real estate investment trust's stock after selling 1,785 shares during the period. Hudson Valley Investment Advisors Inc. ADV's holdings in American Tower were worth $880,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC bought a new stake in American Tower during the 4th quarter worth approximately $29,000. Roxbury Financial LLC bought a new stake in American Tower during the 4th quarter worth approximately $32,000. Graney & King LLC bought a new stake in American Tower during the 4th quarter worth approximately $32,000. Lowe Wealth Advisors LLC increased its holdings in American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 109 shares in the last quarter. Finally, Crowley Wealth Management Inc. bought a new stake in American Tower during the 4th quarter worth approximately $37,000. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup upped their target price on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. Royal Bank of Canada upped their target price on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. UBS Group upped their target price on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company upped their target price on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Finally, JMP Securities increased their price objective on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $240.25.

American Tower Trading Down 1.7%

Shares of AMT stock opened at $212.57 on Friday. 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 Co. has a 52-week low of $172.51 and a 52-week high of $243.56. The company has a market capitalization of $99.51 billion, a PE ratio of 89.69, a price-to-earnings-growth ratio of 1.29 and a beta of 0.82. The business's fifty day moving average is $215.09 and its 200 day moving average is $202.78.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm's revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.79 earnings per share. On average, equities research analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be paid a $1.70 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.20%. American Tower's dividend payout ratio is presently 174.81%.

American Tower Profile

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.

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