Have you been eager to see how American Tower Corporation (AMT - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Boston, MA-based infrastructure real estate investment trust’s (REIT) earnings release this morning:
FFO Improves Y/Y
American Tower reported second-quarter 2018 consolidated adjusted funds from operations (AFFO) per share of $1.90. The figure came in 13.1% higher than the prior year tally.
How Was the Earnings Surprise Trend?
American Tower has a mixed surprise history. Before posting Q2 results, the company delivered positive surprises in two of the trailing four quarters. In the other two occasions, the company had missed the estimate.
This is depicted in the graph below:
Overall, the company surpassed the Zacks Consensus Estimate by an average of 0.22% in the trailing four quarters.
Revenues Came in Higher Y/Y
American Tower posted quarterly total revenues of $1,781 million which witnessed an increase of 7.1% year over year.
Key Developments to Note
American Tower’s property revenue growth was 6.8% in the second quarter of 2018.
The company exited the quarter with higher cash and cash equivalents.
What Zacks Rank Says
American Tower has a Zacks Rank #4 (Sell). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this AMT earnings report!
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6% and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>