What Analysts Think about the Top 3 Wireless REITs after 2Q17
The wireless tower owners’ expected performance in fiscal 2017 is reflected in the analysts’ ratings for the companies.
Crown Castle International (CCI) has a price-to-FFO multiple of 21.32x.
American Tower (AMT) has a debt-to-equity ratio of 2.97x.
During 2Q17, American Tower (AMT) paid dividends totaling $275 million and preferred stock dividends of $27 million.
American Tower’s (AMT) EBITDA (earnings before interest, tax, depreciation, and amortization) stood at $1.02 billion, up 17.5% from the corresponding period last year.
Telecom tower owners face immense competition in regards to market share in the wireless REIT sector.
Wireless tower providers have reported robust revenue growth in recent months backed by higher leasing activities.
American Tower has enhanced its revenue, EBITDA, net income, and AFFO (adjusted funds from operation) guidance for fiscal 2017.
In this series, we’ll analyze the 2Q17 results of American Tower (AMT), SBAC Communications (SBAC), and Crown Castle International (CCI).
65.0% of analysts surveyed by Reuters rate Energy Transfer Equity (ETE) a “buy,” while the remaining 35.0% rate it a “hold” as of July 18, 2017.
Energy Transfer Equity was trading at a price to distributable cash flow of 18.5x as of August 15, 2017, which is above the last-ten-quarter average of 18.0x.
The institutional holdings in Energy Transfer Equity (ETE) increased to 48.7% in 2Q17 compared to 46.8% in the previous quarter.
Energy Transfer Equity (ETE) went past its short-term (50-day) moving average driven by recent gains, which might indicate a bullish sentiment in ETE.
Energy Transfer Partners (ETP) announced a public offering of 54 million common units on August 14. ETE, which owns the IDRs (incentive distribution rights) in ETP, is expected to benefit from the equity offering.
About 40.0% of the analysts surveyed by Reuters have rated Calumet Specialty a “hold,” and 40.0% have rated it a “buy.”
Calumet Specialty Products Partners’ (CLMT) adjusted EBITDA in the second quarter of 2017 rose 45.0% year-over-year.
On August 14, 2017, Calumet Specialty Products Partners (CLMT) announced that it has agreed to sell its Superior, Wisconsin, refinery for $435.0 million.
In his speech on August 10, New York Fed President William Dudley joined the group of FOMC members to ease concerns about slowing inflation (TIP).
The retail sales report for July was released by the United States Census Bureau on August 15. According to the report, US retail sales were $478.9 billion.
For 2016, ONEOK’s (OKE) consolidated debt-to-EBITDA ratio was 5.1x. The company expects the ratio to fall to 4.7x for 2017.