Richard Drury/DigitalVision via Getty Images We previously discussed American Tower Corporation (NYSE:AMT) in March 2024, discussing why we had upgraded the stock to a Buy after the much-needed pullback from its December 2023 top, thanks to the market's over-reaction to the lowered quarterly dividend payouts on a QoQ basis. However, we had believed that AMT was a better buy after the correction, thanks to the improving monetization in FY2023, the management's promising FY2024 guidance, and the near-term foc ...

会议主要讨论的核心内容 - 新任CEO Steve Vondran概述了公司未来几年的四大重点:1)推动有机收入增长 [6][7]; 2)选择性投资内部资本支出项目,包括数据中心业务 [7][25][27]; 3)着重成本控制和利润率提升 [9][10]; 4)优化资产负债表,将杠杆率降至目标区间 [10][11][23] - 公司出售印度业务的原因是印度市场竞争激烈、租金增长缓慢,与公司的国际业务发展战略不符 [14][15][16][17][18][19][20][21] - 公司收购的数据中心业务CoreSite表现出色,近两年创下租赁记录,受益于企业混合云部署需求的增长 [25][26][27][28] - 公司对边缘计算的发展持谨慎乐观态度,认为这一技术将长期有利于塔台业务,但短期内不会对公司业绩产生重大影响 [31][32][33][34] - 公司出售墨西哥光纤业务,认为光纤业务更适合其他公司经营,公司将专注于塔台和数据中心业务 [35][36][37][40][41] - 对于T-Mobile收购US Cellular的潜在影响,公司表示自身的相关业务规模较小,不会对公司造成重大影响 [43][44][45][46] - 公司服务业务有望在下半年出现反弹,与运营商5G和4G网络部署计划加速有关 [49][50][51][52][53] - 公司认为卫星到手机技术是塔台业务的补充,不会对塔台业务构成威胁 [55][56][57][58] - 公司将继续关注资产负债表管理,采取措施应对利率上升的影响,同时也认为公司股价与利率的高度负相关不太合理 [60][61][62][63][64][65] 问答环节重要的提问和回答 问题1 **Ellie Jiang 提问** 公司未来是否考虑提高股息派付比例? [66] **Jiazhen Zhao 回答** 公司长期目标是派发100%的应税收益作为股息,未来股息增长将大致与AFFO增长保持一致 [67][68] 问题2 **Yang Bai 提问** 公司如何看待尼日利亚市场的发展前景? [69] **Jiazhen Zhao 回答** 尽管尼日利亚面临一些宏观经济挑战,但运营商仍在持续投资网络建设,公司将专注于自身的运营效率和现金流管理 [70][71][72] 问题3 **Joyce Ju 提问** 公司如何评估巴西市场的前景? [73] **Lei Chen 回答** 巴西市场经历了运营商整合,短期内会有一定的租约终止,但长期来看行业整合后有利于运营商加大投资,公司业务有望恢复健康增长 [74][75][76][77]

~ Designation based on 24-month interim Phase I/II clinical data for AMT-130 announced in December 2023 ~ ~ AMT-130 is the first therapeutic candidate to receive RMAT Designation for Huntington’s disease ~ ~ Receiving RMAT designation enables increased collaboration with the FDA on regulatory approval planning, in addition to the opportunity for expedited product development ~ LEXINGTON, Mass. and AMSTERDAM, June 03, 2024 (GLOBE NEWSWIRE) -- uniQure N.V. (NASDAQ: QURE), a leading gene therapy company advanc ...

文章核心观点 - 公司拥有庞大且地域多元化的通信房地产投资组合 [1] - 无线运营商在5G网络部署和频谱拍卖中的大量资本支出,将推动公司需求持续增长 [1] - 公司的扩张努力和良好的资产负债表实力为其未来发展奠定了基础 [1] 公司表现 - 2024年第一季度,公司调整后的每股AFFO为2.79美元,超出市场预期,同比增长9.8% [2] - 公司物业板块收入增长推动了整体业绩的优于预期 [2] - 公司有机租户计费同比增长5.4%,总租户计费同比增长6.3% [3] - 公司上调了2024年AFFO指引,预期中值同比增长5.6% [4] - 分析师对公司持乐观态度,2024年AFFO预期值上调 [5] - 公司股价在过去一个月内上涨6.3%,优于行业1.6%的涨幅 [6] 行业趋势 - 移动技术进步和带宽密集应用的普及,推动了全球移动数据使用量的增长 [7] - 边缘计算、自动驾驶和物联网等新兴技术,以及视频会议和混合办公的兴起,进一步增加了无线连接需求 [7] - 运营商正在部署额外设备以提升网络覆盖和容量,公司凭借遍布全球的通信站点,处于有利位置捕捉这一需求 [8] 公司优势 - 公司拥有稳健的业务模式,大部分收入来自长期不可取消的租约 [10][11][12] - 公司资产负债表强劲,具有充足的流动性支持债务偿付 [13][14] - 公司保持了良好的派息记录,近年来平均年度派息增长率达13.77% [15][16]

Matteo Colombo Real Estate Weekly Outlook U.S. equity markets snapped a four-week winning streak while benchmark interest rates rebounded as hopes for multiple Fed rate cuts this year were curtailed by the combination of hot U.K. inflation data, hawkish Fed commentary from several swing voters, and surprisingly solid PMI data. Mirroring trends across the pond, hotter-than-expected consumer inflation data in the United Kingdom dashed hopes that the Bank of England could potentially kick-start a wave of m ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about American Tower (AMT) .American Tower currently has an average brokerage recommendation (ABR) of ...

Since the onset of the Covid-19 pandemic, inflation has become quite a sticky problem. It has taken far longer than expected for economic disruptions to work their way through the system.While many analysts hoped that inflation would be transitory, rises in energy costs and foreign wars have led to prices remaining elevated. The Federal Reserve would currently like to lower interest rates, but it has held off so far due to inflation remaining above its target level.However, it appears that inflation is fina ...

业绩总结 - 美国塔公司的主要重点是最大化有机增长，通过与全球销售团队和运营团队合作，提供优质客户服务，推动销售增长[5] - 公司计划通过内部资本支出项目进行有选择性的投资，以支持收入增长，并专注于扩大利润率，预计将通过减少销售、一般和行政开支来实现[5] - 美国塔公司着重关注优化资产负债表，致力于将杠杆率降至5.0以下[5] 未来展望 - 5G网络的部署将推动移动数据使用量每年增长20%至30%，为行业带来成功故事，美国塔公司预计在未来几年内美国有机租户建筑增长将至少达到5%[7] - 美国塔公司看好CoreSite的业务前景，认为混合云部署是其主要业务增长驱动力，而AI也为CoreSite提供了增量新业务[19] - CoreSite在过去两年的新业务水平创下了几年来的最高水平，预计未来将继续保持强劲增长，主要受益于企业的混合云部署需求[19] 市场扩张和并购 - 公司在印度业务出售交易中预计获得约25亿美元的收益[28] - 欧洲市场对公司来说是一个强劲的表现市场，特别是德国和西班牙[30] - 公司计划在今年建设约3000个站点，其中约500个在欧洲，约1400个在非洲[41] 资本分配 - 公司将根据长期股东价值最大化的原则来分配资本，包括M&A、内部资本支出、股票回购、进一步减债或增加股息[45] - 公司在资本分配时会考虑利率、股价等因素[45] - 公司在内部资本支出项目上具有灵活性，可以根据需要进行投资[45]

American Tower Corporation (NYSE:AMT) J.P. Morgan 52nd Annual Global Technology, Media and Communications Conference May 20, 2024 3:10 PM ET Company Participants Steve Vondran - President and CEO Conference Call Participants Richard Choe - J.P. Morgan Richard Choe Hi, my name is Richard Choe, I cover communications infrastructure here at JPMorgan. I'd like to thank Steve Vondran, President and CEO of American Tower for joining us today. Steve Vondran Thanks. Great to be here. Question-and-Answer Session Q - ...

RichVintage This article was coproduced with Leo Nelissen. As many of my readers know, I was once a commercial real estate developer, in which I learned how to construct and lease properties from the ground up. I started my career just out of college, first as a leasing agent, and then I became a full-fledged shopping center building stores for a variety of retail chains such as Advance Auto Parts (AAP), PetSmart, Walmart (WMT), and Sherwin-Williams (SHW). The great thing about my career as a developer is t ...