On October 29, American Tower fell 4.21% in After-Hours Trading, with shares at $181.75 and turnover of $18.7233 million.
The clearest catalyst was its latest earnings release: third-quarter AFFO and revenue both exceeded expectations, but the company narrowed its full-year AFFO guidance, prompting a cautious market response.
American Tower reported Q3 AFFO of $2.87 per share, above the $2.77 consensus, on revenue of $2.79 billion versus expectations of $2.76 billion. Total revenue rose from $2.72 billion a year earlier, while adjusted funds from operations attributable to common shareholders reached about $1.335 billion. However, its AFFO outlook was tightened to $11.04 to $11.16 per share from the prior $11.00 to $11.17 range, roughly bracketing the $11.10 consensus. Net income fell 14.4% year over year to $781 million, pressured by unrealized equity investment losses. The company also repurchased about $315 million of stock in the quarter and approved an additional $2 billion buyback authorization.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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