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).
AvalonBay Communities (AVB) has the highest premium in terms of its price-to-FFO ratio among the three residential REITs discussed.
Residential REITs have undertaken several development and reconstruction activities in order to maintain leadership in the industry.
Residential REITs undertook several strategic initiatives to maintain their leadership in the industry.
Residential REITs undertook various development and expansionary activities in order to maintain their leadership in the sector.
Residential REITs’ top-line performances in 2Q17 were solid and higher than their performances in the corresponding period last year.
The residential REIT sector is on the threshold of a transition period and the performance of these stocks depends a lot on the macroeconomic as well as industrial changes taking place currently.
Residential REITs showed strong momentum in the first half of 2017 with solid improvements in both top-line and bottom-line results.
Vornado seems to be the most premium in terms of price-to-FFO multiple. The REIT currently trades at 17.99x.
In 2Q17, GGP paid $17.5 million in dividends to its shareholders, which was more than $13.3 million paid a year ago.
GGP’s (GGP) debt-to-equity was 1.55x for 2Q17, which was higher than the industrial mean of 1.07x. As of 2Q17, GGP had $2.0 billion of liquidity.
Simon Property Group (SPG) had 25 redevelopment expansion projects under construction as of 2Q17.