American Tower Corp (AMT) released its first quarter results on Thursday, April 29, 2021. The company reported net earnings of $1.45 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 55 percent compared to the same period a year ago.
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 181,000 communications sites. American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 181,000 communications sites.
American Tower's revenue increased 6 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 73.39% for the first quarter compared to the same period in the previous year, and operating margins increased to 38.39% over the same period. Net earnings for past trailing twelve months were $1920.6 million, up 1% from the prior year.
Moving on to the balance sheet, American Tower’s cash levels jumped 42% for the first quarter over the same period last year. The company increased shares outstanding by 0.33%.
Shares of AMT are currently trading around $254.77. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 59.19 and price to book ratio of 29.28.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Sunday, May 2, 2021.