Financial PerformanceThe stock is expected to trade down modestly following results, given lack of upside to core metrics and likely confusion due to the pro forma guidance following the company’s India asset sale.
Guidance And EstimatesAmerican Tower updated its guidance for 2024, but it is largely not comparable to the Street, with a significant negative impact from the India divestiture.
Market TrendsAs commentary from tower peers has seemingly improved for US trends, this may have started some investor rotation out of AMT on a relative basis given its smaller exposure to the US market.