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Reporter Name | Goel Sanjay |
Relationship | EVP & President, Asia-Pacific |
Type | Sell |
Amount | $1,190,000 |
SEC Filing | Form 4 |
Sanjay Goel, EVP & President, Asia-Pacific of American Tower Corp, sold 5,000 shares of Common Stock on September 13, 2024, at a price of $238.0 per share, totaling $1,190,000. Following the transaction, Goel directly owns 18,621 shares of the company.
SEC Filing: AMERICAN TOWER CORP /MA/ [ AMT ] - Form 4 - Sep. 17, 2024
Designed to provide broad exposure to the Technology - Telecom segment of the equity market, the First Trust Indxx NextG ETF (NXTG) is a passively managed exchange traded fund launched on 02/17/2011.
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Technology - Telecom is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 7, placing it in top 44%.
Index Details
The fund is sponsored by First Trust Advisors. It has amassed assets over $383.28 million, making it one of the average sized ETFs attempting to match the performance of the Technology - Telecom segment of the equity market. NXTG seeks to match the performance of the INDXX 5G & NEXTG THEMATIC INDEX before fees and expenses.
The Indxx 5G & NextG Thematic Index tracks the performance of companies engaged in the smartphone segment of the telecom and technology sectors.
Costs
Expense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same.
Annual operating expenses for this ETF are 0.70%, making it one of the more expensive products in the space.
It has a 12-month trailing dividend yield of 1.86%.
Sector Exposure and Top Holdings
It is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
Looking at individual holdings, Infosys Limited (adr) (INFY) accounts for about 1.50% of total assets, followed by American Tower Corporation (AMT) and Delta Electronics Inc. (2308.TT).
The top 10 holdings account for about 14.14% of total assets under management.
Performance and Risk
Year-to-date, the First Trust Indxx NextG ETF has added roughly 13% so far, and was up about 25.33% over the last 12 months (as of 09/17/2024). NXTG has traded between $64.60 and $86.25 in this past 52-week period.
The ETF has a beta of 0.86 and standard deviation of 17.68% for the trailing three-year period. With about 110 holdings, it effectively diversifies company-specific risk.
Alternatives
First Trust Indxx NextG ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, NXTG is a reasonable option for those seeking exposure to the Technology ETFs area of the market. Investors might also want to consider some other ETF options in the space.
Zacks Investment Research
Based in Boca Raton, Florida, SBA Communications Corporation owns and operates wireless communications infrastructure and is a prominent real estate investment trust (REIT). Valued at a market cap of $26.1 billion, the company primarily focuses on leasing antenna space on its multi-tenant towers to various wireless service providers under long-term lease contracts.
Companies worth more than $10 billion are generally described as “large-cap” stocks, and SBA Communications fits right into that category. With a portfolio of more than 39,000 communications sites, SBAC owns and operates wireless communications infrastructure, including towers, buildings, rooftops, distributed antenna systems (DAS), and small cells.
Despite a 4.7% decline from their 52-week high of $258.76, which they hit in December last year, shares of this communications tower operator have gained 25.8% over the past three months, surpassing the broader S&P 500 Index’s ($SPX) 3.7% return over the same time frame.
However, in the longer term, SBAC stock is down 2.8% on a YTD basis, lagging behind SPX’s 18.1% gains. Shares of SBAC have gained 13% over the past 52 weeks, compared to SPX’s 26.5% returns over the same time frame.
Nevertheless, SBAC has been trading above its 200-day moving average since mid-August and has remained above its 50-day moving average since early July, indicating a bullish trend.
SBAC's shares have struggled over the past year due to elevated interest rates, high customer concentration, and sluggish wireless carrier activity. However, recent price gains reflect investor optimism about its growth strategies, including expanding communication sites and tower portfolio. Moreover, despite missing revenue estimates and trimming its annual revenue forecast, the stock rose marginally following its better-than-expected Q2 AFFO of $3.29 per share on Jul. 29 due to its stronger international leasing activity, which offset the impact of slower 5G leasing growth in the U.S.
Highlighting the contrast in performance, SBAC has lagged behind its rival American Tower Corporation’s 11.9% YTD gains and 34.1% returns over the past 52 weeks.
Despite SBAC's underperformance over the past year, analysts remain moderately optimistic about its prospects. The stock has a consensus rating of “Moderate Buy” from the 17 analysts covering the stock, and as of writing. However, the stock is trading above its mean price target of $240.06.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
Market volatility cratered last week as stocks bounced back from one of their worst weeks of the year. With the Fed rates decision looming, we could see volatility pick up this week.
That could mean it’s a good time to look for stock with a low implied volatility percentile.
A lot of stock are showing a low implied volatility percentile.
Pfizer for example, is showing implied volatility of 21% compared to a twelve-month low of 18% and a twelve-month high of 34%.
Implied volatility percentile is one of the most common metrics used when trading options.
IV Percentile is a measure of implied volatility where current implied volatility is compared to the range of implied volatilities in this past.
This comparison is made on the same stock.
For example, Palantir’s IV percentile takes the current implied volatility and compares it to the past implied volatilities Palantir has had.
This is then made into a percentage ranging from 0-100%.
A percentage of zero would depict a stock is currently at the lowest level of implied volatility it has been during the lookback period.
In contrast, an IV percentile of 100% illustrates that the stock is trading at its highest level of implied volatility.
To get a true picture of stocks with a low implied volatility percentile, we can use the Stock Screener.
Using the Stock Screener to Find Low Volatility Stocks
Using the Stock Screener, we can set the following filters to find stocks with low implied volatility percentile.
This screener gives us the following stocks ranked from lowest IV Percentile to highest:
Fidelity National Information Services
Here is the full list:
How To Use IV Percentile
As a general rule, when implied volatility percentile is low, it’s better to focus on long volatility trades such as debit spreads, long straddles and long strangles.
It also makes sense to compare a stock’s current IV Percentile to the market in general. If all stocks are showing low IV Percentile, then there might not be much of an edge in buying volatility on a specific stock. But, if general market implied volatility is high, that could be a good time to buy cheap volatility in some of the names above.
It’s also a good idea to keep an eye on the upcoming earnings dates as stocks can make big moves following earnings announcements.
Please remember that options are risky, and investors can lose 100% of their investment. This article is for education purposes only and not a trade recommendation. Remember to always do your own due diligence and consult your financial advisor before making any investment decisions.
On the date of publication, Gavin McMaster had a position in: BABA . All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
American Tower AMT has successfully concluded the sale of all equity interests in its operations in India, referred to as “ATC India” to Data Infrastructure Trust (“DIT”). This Infrastructure Investment Trust is sponsored by an affiliate of Brookfield Asset Management.
AMT’s Transaction Details
The transaction yields total cash proceeds for American Tower of approximately INR 210 billion, or $2.5 billion, based on the exchange rates on Sept. 12, 2024.
This total cash proceeds includes nearly $320 million related to the monetization of optionally converted debentures issued by Vodafone Idea, as well as payments related to ATC India receivables, net of withholding tax. Additionally, around $2.2 billion will be received as final proceeds at the closing of the transaction.
It is expected that these proceeds will be utilized towards the repayment of American Tower's existing indebtedness, including the repayment of the existing term loan in India at the time of closing. No additional proceeds from this transaction are expected.
2024 Outlook Changes for AMT
As a result of the sale, ATC India’s results will now be reported as discontinued operations. Taking into account the contributions from discontinued operations and adjustments for the completion of the transaction, AMT projects that the present outlook midpoints for property revenue and Adjusted EBITDA of $10.83 billion and $7.185 billion, respectively. Furthermore, the AFFO attributable to AMT shareholders per diluted share, which will include contributions from discontinued operations, is anticipated to be $10.48 per share.
The company projects that the property revenue, Adjusted EBITDA from continuing operations and AFFO attributable to AMT common stockholders per share from continuing operations proforma, when adjusted for interest expense savings derived from the utilization of proceeds from the ATC India sale, would amount to $9.92 billion, $6.805 billion and $9.95, respectively, based on annualized effects of these proceeds and the related interest expense savings.
Wrapping Up
The sale of India operations enables the company to explore new investment opportunities and provides financial flexibility in the United States & Canada, Asia-Pacific, Africa, Europe and Latin America. Hence, with such portfolio restructuring moves, American Tower seems well-poised to prosper alongside strengthening its capital position.
Over the past six months, shares of this Zacks Rank #3 (Hold) company have rallied 19% compared with the industry’s growth of 15.9%.
Stocks to Consider
Some better-ranked stocks from the broader REIT sector are Cousins Properties CUZ and Lamar Advertising LAMR, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Cousins Properties’ 2024 FFO per share has moved marginally northward over the past two months to $2.66.
The Zacks Consensus Estimate for Lamar Advertising’s current-year FFO per share has been raised marginally over the past two months to $8.09.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
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