American Tower Corporation (REIT) [NYSE: AMT] loss -1.84% or -4.58 points to close at $244.02 with a heavy trading volume of 5244037 shares. The company report on May 6, 2021 that American Tower Corporation Prices Upsized Public Offering of Common Stock.
American Tower Corporation (NYSE: AMT) announced the pricing of its registered public offering of 9,000,000 shares of common stock at $244.75 per share. The offering was upsized from the previously announced offering size of 8,500,000 shares. The underwriters of the offering have an option to purchase up to an additional 900,000 shares of common stock to cover over-allotments, if any. The net proceeds of the offering are expected to be approximately $2,147.1 million (or approximately $2,361.8 million if the underwriters exercise their option to purchase additional shares in full) after deducting underwriting discounts and estimated offering expenses. American Tower expects to use the net proceeds from this offering, together with cash on hand and borrowings under its revolving credit facilities and term loans, to finance the recently announced Telxius transaction and to pay related fees and expenses. If for any reason the Telxius transaction is not completed, American Tower expects to use the net proceeds from these offerings to repay existing indebtedness and for general corporate purposes.
BofA Securities is acting as lead book-running manager for the offering. Barclays, Citigroup, Morgan Stanley and RBC Capital Markets are also acting as joint book-running managers with respect to the offering.
It opened the trading session at $244.27, the shares rose to $246.83 and dropped to $242.35, the range by which the price of stock traded the whole day. The daily chart for AMT points out that the company has recorded 4.18% gains over the past six months. However, it is still -23.55% lower than its most recent low trading price.
If we look at the average trading volume of 2.07M shares, AMT reached to a volume of 5244037 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $275.29 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 1.90. 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.
Jefferies have made an estimate for American Tower Corporation (REIT) shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 12, 2021. The new note on the price target was released on March 26, 2021, representing the official price target for American Tower Corporation (REIT) stock.
The Average True Range (ATR) for American Tower Corporation (REIT) is set at 4.50, with the Price to Sales ratio for AMT stock in the period of the last 12 months amounting to 13.00. The Price to Book ratio for the last quarter was 26.50. Price to Free Cash Flow for AMT in the course of the last twelve months was 110.58 with Quick ratio for the last quarter at 0.80.
Trading performance analysis for AMT stock
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 -2.55. With this latest performance, AMT shares dropped by -0.28% in over the last four-week period, additionally plugging by 4.18% over the last 6 months – not to mention a rise of 2.85% 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 47.88, with the RSI for the last a single of trading hit 38.20, and the three-weeks RSI is set at 52.44 for American Tower Corporation (REIT) [AMT]. The present Moving Average for the last 50 days of trading for this stock 233.40, while it was recorded at 249.74 for the last single week of trading, and 236.08 for the last 200 days.
American Tower Corporation [REIT] [AMT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and American Tower Corporation (REIT) [AMT] shares currently have an operating margin of +39.37 and a Gross Margin at +48.90. American Tower Corporation (REIT)’s Net Margin is presently recorded at +21.02.
Return on Total Capital for AMT is now 8.00, given the latest momentum, and Return on Invested Capital for the company is 4.69. Return on Equity for this stock inclined to 36.96, with Return on Assets sitting at 3.76. 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 896.83. Additionally, AMT Total Debt to Total Capital is recorded at 89.97, with Total Debt to Total Assets ending up at 77.72. Long-Term Debt to Equity for the company is recorded at 864.35, with the Long-Term Debt to Total Capital now at 86.71.
Reflecting on the efficiency of the workforce at the company, American Tower Corporation (REIT) [AMT] managed to generate an average of $300,926 per employee. Receivables Turnover for the company is 12.75 with a Total Asset Turnover recorded at a value of 0.18.American Tower Corporation (REIT)’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.
American Tower Corporation (REIT) [AMT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, American Tower Corporation (REIT) posted 1/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 fail the estimates by a Surprise Factor of -2.90%. 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 19.42%.
An analysis of insider ownership at American Tower Corporation [REIT] [AMT]
There are presently around $101,173 million, or 93.50% of AMT stock, in the hands of institutional investors. The top three institutional holders of AMT stocks are: VANGUARD GROUP INC with ownership of 56,124,669, which is approximately -0.432% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 34,348,573 shares of the stock with an approximate value of $8.54 billion in AMT stocks shares; and STATE STREET CORP, currently with $4.29 billion in AMT stock with ownership of nearly -2.135% of the company’s market capitalization.
Positions in American Tower Corporation (REIT) stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 874 institutional holders increased their position in American Tower Corporation (REIT) [NYSE:AMT] by around 27,850,951 shares. Additionally, 653 investors decreased positions by around 26,417,690 shares, while 183 investors held positions by with 352,703,044 shares. The mentioned changes placed institutional holdings at 406,971,685 shares, according to the latest SEC report filing. AMT stock had 170 new institutional investments in for a total of 5,188,781 shares, while 123 institutional investors sold positions of 1,353,574 shares during the same period.