American Tower Posted Solid Growth in Top Line and Profitability Improvements; Shares Overvalued
American Tower posted solid third-quarter results that are in line with our expectations. Total revenue was up 11% year over year, driven by solid growth in organic tenant billings both in the U.S. and abroad and acquisitions. Carrier activities in the U.S. continued to be fueled by 4G-related network investment among large carriers and contributed to the strong growth in domestic property revenue. Firmwide adjusted EBITDA margin expanded to 62% from 60% a year ago, as the firm continues to cont...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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