American Tower (NYSE: 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. These figures are adjusted for non-recurring items.
This quarterly report represents an FFO surprise of 10.28%. A quarter ago, it was expected that this wireless communications infrastructure company would post FFO of $2.55 per share when it actually produced FFO of $2.79, delivering a surprise of 9.41%.
Over the last four quarters, the company has surpassed consensus FFO estimates four times.
American Tower, which belongs to the Zacks REIT and Equity Trust – Other industry, posted revenues of $2.9 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.36%. This compares to year-ago revenues of $2.77 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management’s commentary on …