NEW YORK (TheStreet) -- Shares of American Tower Corp. (AMT) - Get American Tower Corporation Report are up 1.06% to $90.36 on heavy trading volume late Friday afternoon after the Boston-based company reported its 2015 fourth quarter results.
Before today's opening bell, the owner and operator of communications real estate posted adjusted funds from operations of $1.27 per share, surpassing analysts' estimates of $1.23 per share.
Revenue for the period was $1.28 billion, exceeding Wall Street's expectations of $1.25 billion.
Funds from operations is a closely followed metric in the real estate investment trust (REIT) industry, which takes net income and adds back items such as depreciation and amortization, the Associated Press noted.
"In 2016, we expect to extend our proven track record of generating double digit growth across our key metrics as we drive additional organic revenue on our existing assets and selectively seek complementary new investments, all while maintaining the strength of our balance sheet," CEO Jim Taiclet said in a statement.
About 3.91 million of the company's shares were traded by this afternoon compared to its average volume of 2.85 million shares per day.
Separately, TheStreet Ratings Team has a Hold rating with a score of C.
The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and expanding profit margins.
However, as a counter to these strengths, the team also finds weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: AMT