American Tower REIT Profit, Sales Rise on Digital Infrastructure Growth
By Katherine Hamilton
American Tower REIT recorded higher profit and sales in the first quarter as AI is driving more investment in digital infrastructure.
The real estate investment trust on Tuesday posted a profit of $859.5 million, or $1.84 a share, in the quarter ended March 31, compared with $488.7 million, or $1.04 a share, a year earlier.
Stripping out certain one-time items, adjusted funds from operations were $2.84, ahead of the $2.70 anticipated by analysts, according to FactSet.
Revenue rose 6.8% to $2.74 billion. Analysts surveyed by FactSet forecast revenue of $2.66 billion.
The company, which specializes in owning cell towers and data centers, said the increase in demand for mobile data and AI development is driving investment in digital infrastructure.
"I believe American Tower is now operating from its strongest strategic position in more than a decade," Chief Executive Steve Vondran said.
American Tower expects total property revenue to be $10.59 billion to $10.74 billion in the full-year, ahead of the $10.43 billion analysts are projecting.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
April 28, 2026 08:03 ET (12:03 GMT)
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