American Tower Corporation (NYSE: AMT) stock fell -0.45% on Thursday to $182.56 against a previous-day closing price of $183.39. With 2.56 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.97 million shares. During the session, the REIT – Specialty company that operates in wider Real Estate sector, reached to the highest price of $184.65 whereas the lowest price it dropped to was $181.65. The 52-week range on AMT shows that it touched its highest point at $282.47 and its lowest point at $178.17 during that stretch. It currently has a 1-year price target of $241.13. With its current market cap of 85.22 billion, AMT has annualized dividend of $6.24 while the current yield stands at 3.42%. Beta for the stock currently stands at 0.58.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AMT was down-trending over the past week, with a drop of -4.43%, but this was down by -8.87% over a month. Three-month performance dropped to -6.73% while six-month performance fell -16.31%. The stock lost -29.38% in the past year, while it has lost -13.83% so far this year. A look at the trailing 12-month EPS for AMT yields 3.00 with Next year EPS estimates of 4.91. For the next quarter, that number is 1.07. This implies an EPS growth rate of -32.60% for this year and 21.41% for next year. EPS is expected to grow by 7.51% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 7.40%.
Float and Shares Shorts:
At present, 465.74 million AMT shares are outstanding with a float of 464.37 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.18 million, which was 0.90% higher than short shares on Mar 30, 2023. In addition to AMD as the firm’s Advanced Micro Devices, Inc., AMC serves as its AMC Entertainment Holdings, Inc.
Institutional Ownership:
Through their ownership of 93.23% of AMT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.72% of AMT, in contrast to 38.97% held by mutual funds. Shares owned by individuals account for 0.41%. As the largest shareholder in AMT with 12.76% of the stake, The Vanguard Group, Inc. holds 59,455,754 shares worth 59,455,754. A second-largest stockholder of AMT, BlackRock Fund Advisors, holds 22,356,546 shares, controlling over 4.80% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in AMT, holding 20,324,024 shares or 4.36% stake. With a 4.39% stake in AMT, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 20,462,217 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.11% of AMT stock, is the second-largest Mutual Fund holder. It holds 14,472,101 shares valued at 2.96 billion. Vanguard 500 Index Fund holds 2.35% of the stake in AMT, owning 10,928,734 shares worth 2.23 billion.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, AMT reported revenue of $2.67B and operating income of $782.30M. The EBITDA in the recently reported quarter was $2.00B and diluted EPS was $1.95.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AMT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AMT analysts setting a high price target of $271.00 and a low target of $213.00, the average target price over the next 12 months is $242.47. Based on these targets, AMT could surge 48.44% to reach the target high and rise by 16.67% to reach the target low. Reaching the average price target will result in a growth of 32.82% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded AMT stock several times over the past three months with 21 Buys and 18 Sells. In these transactions, 93,918 shares were bought while 59,460 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 43 over the past year. The total number of shares bought during that period was 208,439 while 112,489 shares were sold.
