American Tower Lowers FY24 AFFO Guidance from $10.48-$10.72 to $10.45-$10.62 vs $10.59 Estimate, Sees Total Property Revenue Of $9.89B-$9.98B
Portfolio Pulse from Benzinga Newsdesk
American Tower has revised its FY24 AFFO guidance downwards, with new estimates ranging from $10.45 to $10.62 per share, compared to the previous range of $10.48 to $10.72. The company also projects total property revenue between $9.89 billion and $9.98 billion.
October 29, 2024 | 11:07 am
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American Tower has adjusted its FY24 AFFO guidance to a lower range of $10.45-$10.62 per share, slightly below the previous guidance. The total property revenue is expected to be between $9.89 billion and $9.98 billion.
The downward revision in AFFO guidance suggests potential challenges in meeting previous financial expectations, which could negatively impact investor sentiment and the stock price in the short term. The revenue forecast remains relatively stable, but the focus on AFFO indicates a more cautious outlook.
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