WASHINGTON (dpa-AFX) - REIT American Tower Corp. (AMT) on Tuesday reported higher Funds From Operations in the second quarter, with increased revenues. Further, the firm lifted fiscal 2026 outlook.
For fiscal 2026, the company now expects Adjusted Funds From Operations or AFFO attributable to stockholders of 5.14 billion to $5.22 billion, up 2.7 percent from last year, and AFFO per share of $11.00 to $11.17, up 3.0 percent year-over-year.
Total property revenue is now expected to be $10.695 billion to $10.845 billion, a growth of 4.5 percent from last year.
The company previously projected AFFO in a range of $10.90 to $11.07 per share on total property revenue between $10.585 billion to $10.735 billion.
In the second quarter, Nareit Funds From Operations or FFO attributable to AMT common stockholders was $1.249 billion, compared to $764.7 million a year ago.
AFFO attributable to stockholders was $1.264 billion, up from $1.218 billion last year. AFFO per share was $2.71, compared to $2.60 a year ago.
The company's net earnings totaled $867.5 million, or $1.86 per share. This compares with $366.8 million, or $0.78 per share, last year.
The company's revenue for the period rose 4.7 percent to $2.749 billion from $2.626 billion last year.
In pre-market activity, the shares were trading at $168.99, up 1.39 percent.
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