American Tower's (AMT) Q2 results beat estimates on better-than-anticipated revenues and strong organic tenant billing growth. It has raised its outlook for 2024.
Although the revenue and EPS for American Tower (AMT) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
American Tower posted strong tenant billings growth in the U.S. and international markets. Adjusted funds from operations grew even faster, fueling a growing dividend.
American Tower (AMT) came out with quarterly funds from operations (FFO) of $2.79 per share, beating the Zacks Consensus Estimate of $2.53 per share. This compares to FFO of $2.46 per share a year ago.
Real estate investment trusts (REIT) provide steady income, and most recently, capital appreciation for most investors. Still, I believe that it is advisable to divest in REITs because of different economic and real estate-related issues.
American Tower's (AMT) Q2 earnings are likely to have benefited from the solid demand for its communication real estate portfolio, though high interest expenses and elevated churn remain concerns.
Evaluate the expected performance of American Tower (AMT) for the quarter ended June 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
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American Tower Corp. (AMT, Financial) is known as a good stock for long-term holding. Legendary value investor Chuck Akre (Trades, Portfolio)'s firm has owned this stock for more than 15 years in his fund portfolio.
The latest trading day saw American Tower (AMT) settling at $213.12, representing a +1.41% change from its previous close.
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