American Tower Q1 consolidated AFFO per share jumps 24.1% YOY | AMT Message Board Posts


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Msg  51 of 61  at  5/4/2021 7:01:20 AM  by

jerrykrause


American Tower Q1 consolidated AFFO per share jumps 24.1% YOY

from SNL Real Estate Daily
 
 

American Tower Q1 consolidated AFFO per share jumps 24.1% YOY

 
 
Byline: Ali Imran Naqvi
 
 

American Tower Corp. said its consolidated adjusted funds from operations for the first quarter stood at $2.52 per share, a 24.1% rise from $2.03 per share in the year-ago period.

Consolidated AFFO totaled $1.12 billion, a gain of 23.8% from $906.6 million in the year-earlier period.

AFFO attributable to common stockholders rose 16.3% year over year to $1.10 billion, or $2.46 per share, from $945.4 million, or $2.12 per share.

The S&P Capital IQ consensus AFFO per share estimate for the quarter was $2.30.

The company's property revenue for the first quarter amounted to $2.13 billion, a 7.9% year over year increase from $1.97 billion.

Nareit FFO attributable to common stockholders for the quarter ended March 31 stood at $1.11 billion, up 34.9% from $819.2 million in the first quarter of 2020.

Nareit is the U.S.-based trade association for real estate investment trusts and publicly traded real estate companies.

In reporting results, American Tower said it forecasts consolidated AFFO of $4.09 billion to $4.19 billion, marking a 9.1% growth at the midpoint compared to the prior-year period.

 


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