Profile
Sector:
Real EstateIndustry:
SpecialtyCountry:
United StatesIPO:
27 February 1998Website:
http://www.americantower.comNext earnings report:
N/ALast dividends:
09 October 2024Next dividends:
N/APrice
pre-market | 17 min agoAnalysts recommendations
Institutional Ownership
Included in screeners
AMT Latest News
American Tower's growth headwinds should fade next year.
American Tower Corporation shared its Q3-2024 results and revealed the sale of its business in India. Investors are still optimistic about a comeback to its past success. However, the company is finding it difficult to regain the same level of growth it experienced in its prime.
AMT's results for the third quarter show an increase in revenue compared to last year and significant growth in tenant billing. However, the company has reduced its expectations for 2024.
The financial results for American Tower (AMT) from the quarter ending in September 2024 provide insight into the company's performance. It may be helpful to compare some important metrics with Wall Street predictions and figures from the same period last year.
American Tower (AMT) reported quarterly funds from operations (FFO) of $2.64 per share, which is higher than the Zacks Consensus Estimate of $2.54 per share. This is an increase compared to last year's FFO of $2.58 per share.
The American Tower Corporation (NYSE:AMT) held its Q3 2024 Earnings Call on October 29, 2024, at 8:30 AM ET. Key company participants included Adam Smith, Steve Vondran, and Rod Smith, while various analysts from firms like Raymond James and Goldman Sachs also joined the call. The operator welcomed everyone and thanked them for their patience as the conference began.
AMT's earnings for the third quarter are expected to be negatively affected by high interest costs and increased customer turnover, even though there is strong demand for its communication real estate assets.
In addition to Wall Street's predictions for American Tower's (AMT) revenue and profits, take a look at forecasts for some important metrics to better understand how the company performed in the quarter that ended in September 2024.
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American Tower is still considered overvalued and has underperformed the S&P 500 by 40% since we last advised against investing in it. The company's high debt, expensive valuation, and average growth potential restrict its ability to provide good returns for shareholders. Increased competition in the datacenter market and a high payout ratio may also affect American Tower's ability to grow dividends in the future.
What type of business is American Tower?
American Tower Corporation is one of the largest global real estate investment trusts. Initially created as a subsidiary of American Radio Systems Corporation in 1995, it was converted into an independent public company in 1998. American Tower Corporation is a holding company and operates through its subsidiaries. The headquarters is located in Boston. Offices are located worldwide. The company's portfolio consists of communication real estate, which is owned or operated under long-term lease agreements, subleases. In addition to communication sites, the company owns other telecommunication infrastructure such as distributed antenna systems, fiber optic networks, and more.
What sector is American Tower in?
American Tower is in the Real Estate sector
What industry is American Tower in?
American Tower is in the Specialty industry
What country is American Tower from?
American Tower is headquartered in United States
When did American Tower go public?
American Tower initial public offering (IPO) was on 27 February 1998
What is American Tower website?
https://www.americantower.com
Is American Tower in the S&P 500?
Yes, American Tower is included in the S&P 500 index
Is American Tower in the NASDAQ 100?
No, American Tower is not included in the NASDAQ 100 index
Is American Tower in the Dow Jones?
No, American Tower is not included in the Dow Jones index
When was American Tower the previous earnings report?
No data
When does American Tower earnings report?
Next earnings report date is not announced yet