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American Tower Q1 consolidated AFFO per share jumps 24.1% YOYfrom SNL Real Estate Daily American Tower Q1 consolidated AFFO per share jumps 24.1% YOYByline: 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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