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American Tower boosts 2017 guidance, resuming buyback

Mar. 21, 2017 12:12 PM ETAmerican Tower Corporation (AMT) StockAMTBy: Jason Aycock, SA News Editor3 Comments
  • In an 8-K filing, American Tower (AMT +1%) notes an updated outlook after an agreement revision expected to generate another $100M in straight-line revenue.
  • The company now sees 2017 total property revenue of $6.31B-$6.49B, net income of $1.275B-$1.345B, and EBITDA of $3.91B-$4.01B.
  • That's due to an amended master lease agreement with a tenant.
  • American Tower also said it will resume a stock repurchase program that it set up in 2011. Under the plan, the company's authorized to buy back up to an additional $1.1B in common stock.

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