This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
American Tower recently raised tower revenue guidance following first-quarter earnings, and converted into a real estate investment trust (REIT) to become more shareholder-friendly.
"We believe AMT has both the ability and desire to grow its dividend in terms of absolute amount per share (growth in the business) as well as percent AFFO (adjusted funds from operations) payout. The company believes its long-term AFFO growth rate is double digits and dividend growth should actually exceed AFFO growth," wrote Raymond James analyst Ric Prentiss in his research report following the earnings release. He rates American Tower "outperform" with a $71 price target.
Shares of American Tower have gained 12.9% this year.
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.