On July 28, American Tower rose 6.08% in regular trading, trading at $176.04/share, with turnover of $179 million. The rally was driven by the company's Q2 earnings release before market open, which exceeded consensus estimates across all key metrics.

American Tower reported Q2 adjusted funds from operations of $2.71 per share, up from $2.60 a year earlier, topping the FactSet estimate of $2.70. Total property revenue reached $2.75 billion, a 4.7% year-over-year increase, surpassing analyst expectations of $2.70 billion. Notably, the company raised its full-year guidance for the second time, now expecting AFFO of $11.00 to $11.17 per share versus the analyst consensus of $10.97, with midpoint property revenue growth projected at 4.5%, well above the 3.7% Street estimate.

This marks a continuation of strong execution following a Q1 beat where AFFO of $2.84 significantly exceeded the $2.70 estimate. Multiple institutions maintain Buy ratings with an average price target of $215. Peer stocks Crown Castle and SBA Communications also advanced 4.82% and 4.72% respectively in the session.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)