Hudson Valley Investment Advisors Inc. ADV Sells 748 Shares of American Tower Corporation $AMT

Hudson Valley Investment Advisors Inc. ADV cut its position in shares of American Tower Corporation (NYSE:AMT) by 18.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,297 shares of the real estate investment trust’s stock after selling 748 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in American Tower were worth $729,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. Focus Financial Network Inc. raised its position in American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock valued at $451,000 after purchasing an additional 170 shares during the period. Resolution Capital Ltd purchased a new stake in American Tower during the first quarter valued at approximately $72,706,000. Golden State Wealth Management LLC raised its position in American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 69 shares during the period. Shum Financial Group Inc. raised its position in American Tower by 3.5% during the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust’s stock valued at $913,000 after purchasing an additional 141 shares during the period. Finally, Kovitz Investment Group Partners LLC raised its position in American Tower by 126.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock valued at $21,215,000 after purchasing an additional 54,360 shares during the period. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMT shares. UBS Group upped their price objective on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. BMO Capital Markets restated an “outperform” rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Wells Fargo & Company decreased their price objective on American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, Raymond James Financial set a $250.00 price target on American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.07.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is owned by insiders.

American Tower Trading Down 0.6%

Shares of NYSE AMT opened at $190.10 on Friday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The business’s 50 day moving average price is $201.53 and its 200-day moving average price is $211.76. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The company has a market cap of $89.01 billion, a price-to-earnings ratio of 69.13, a PEG ratio of 1.18 and a beta of 0.86.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the business posted $2.79 earnings per share. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, sell-side analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is presently 247.27%.

American Tower Company 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.