American Tower Corporation (REIT) [NYSE: AMT] price surged by 2.17 percent to reach at $4.94. The company report on November 18, 2020 that American Tower Corporation Prices Senior Notes Offering.
American Tower Corporation (NYSE: AMT) announced the pricing of its registered public offering of senior unsecured notes due 2024, 2028 and 2051 in aggregate principal amounts of $500.0 million, $650.0 million and $550.0 million, respectively. The 2024 notes will have an interest rate of 0.600% per annum and are being issued at a price equal to 99.825% of their face value. The 2028 notes will have an interest rate of 1.500% per annum and are being issued at a price equal to 99.971% of their face value. The 2051 notes will have an interest rate of 2.950% per annum and are being issued at a price equal to 98.930% of their face value.
The net proceeds of the offering are expected to be approximately $1,678.9 million, after deducting underwriting discounts and estimated offering expenses. American Tower intends to use the net proceeds to repay existing indebtedness under its $2.35 billion senior unsecured revolving credit facility, as amended and restated in December 2019, and for general corporate purposes, which may include, among other things, the funding of acquisitions, additions to working capital and repayment or refinancing of existing indebtedness.
A sum of 2476010 shares traded at recent session while its average daily volume was at 1.89M shares. American Tower Corporation (REIT) shares reached a high of $233.37 and dropped to a low of $228.65 until finishing in the latest session at $233.00.
The one-year AMT stock forecast points to a potential upside of 17.84. The average equity rating for AMT stock is currently 2.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on American Tower Corporation [REIT] [AMT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AMT shares is $283.61 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AMT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for American Tower Corporation (REIT) shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 15, 2020. The new note on the price target was released on July 13, 2020, representing the official price target for American Tower Corporation (REIT) stock. Previously, the target price had yet another raise to $287, while Deutsche Bank analysts kept a Buy rating on AMT stock.
The Average True Range (ATR) for American Tower Corporation (REIT) is set at 5.87, with the Price to Sales ratio for AMT stock in the period of the last 12 months amounting to 13.52. The Price to Book ratio for the last quarter was 27.71. Price to Free Cash Flow for AMT in the course of the last twelve months was 109.95 with Quick ratio for the last quarter at 0.90.
AMT Stock Performance Analysis:
American Tower Corporation (REIT) [AMT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.98. With this latest performance, AMT shares dropped by -1.34% in over the last four-week period, additionally sinking by -9.75% over the last 6 months – not to mention a rise of 8.48% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AMT stock in for the last two-week period is set at 45.79, with the RSI for the last a single of trading hit 45.13, and the three-weeks RSI is set at 45.38 for American Tower Corporation (REIT) [AMT]. The present Moving Average for the last 50 days of trading for this stock 238.78, while it was recorded at 232.21 for the last single week of trading, and 244.72 for the last 200 days.
Insight into American Tower Corporation [REIT] Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and American Tower Corporation (REIT) [AMT] shares currently have an operating margin of +27.05 and a Gross Margin at +47.29. American Tower Corporation (REIT)’s Net Margin is presently recorded at +24.90.
Return on Total Capital for AMT is now 6.24, given the latest momentum, and Return on Invested Capital for the company is 6.69. Return on Equity for this stock inclined to 36.33, with Return on Assets sitting at 4.98. When it comes to the capital structure of this company, American Tower Corporation (REIT) [AMT] has a Total Debt to Total Equity ratio set at 614.40. Additionally, AMT Total Debt to Total Capital is recorded at 86.00, with Total Debt to Total Assets ending up at 72.57. Long-Term Debt to Equity for the company is recorded at 546.69, with the Long-Term Debt to Total Capital now at 76.53.
Reflecting on the efficiency of the workforce at the company, American Tower Corporation (REIT) [AMT] managed to generate an average of $346,131 per employee. Receivables Turnover for the company is 11.24 with a Total Asset Turnover recorded at a value of 0.20.American Tower Corporation (REIT)’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.
AMT Stock EPS
With the latest financial reports released by the company, American Tower Corporation (REIT) posted 1.26/share EPS, while the average EPS was predicted by analysts to be reported at 1.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 22.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AMT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for American Tower Corporation (REIT) go to 16.11%.
American Tower Corporation [REIT] [AMT] Insider Position Details
There are presently around $94,499 million, or 93.10% of AMT stock, in the hands of institutional investors. The top three institutional holders of AMT stocks are: VANGUARD GROUP INC with ownership of 56,368,296, which is approximately -1.779% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 33,571,973 shares of the stock with an approximate value of $7.82 billion in AMT stocks shares; and STATE STREET CORP, currently with $4.11 billion in AMT stock with ownership of nearly -8.749% of the company’s market capitalization.
Positions in American Tower Corporation (REIT) stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 802 institutional holders increased their position in American Tower Corporation (REIT) [NYSE:AMT] by around 15,993,973 shares. Additionally, 607 investors decreased positions by around 19,525,828 shares, while 199 investors held positions by with 370,054,887 shares. The mentioned changes placed institutional holdings at 405,574,688 shares, according to the latest SEC report filing. AMT stock had 111 new institutional investments in for a total of 1,158,435 shares, while 93 institutional investors sold positions of 708,321 shares during the same period.