American Tower: Q3 Earnings Snapshot

BOSTON (AP) — BOSTON (AP) — American Tower Corp. (AMT) on Tuesday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.

The real estate investment trust, based in Boston, said it had funds from operations of $1.24 billion, or $2.64 per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $2.54 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.