July 29 (Reuters) - Wireless infrastructure provider

American Tower ( AMT ) raised its annual property revenue

forecast on Tuesday, betting on healthy leasing activity by

wireless carriers.

The company, however, slightly lowered its expectation for

full-year organic tenant billings growth in the United States

and Canada to about 4.3%, down from 4.3% or more, sending its

shares down about 2%.

American Tower ( AMT ) said that new business associated with one

customer is coming in a bit slower than expected.

"Management clarified that the application pipeline from

this customer remains healthy, but the issue is a lengthening of

the book-to-bill cycle," analysts at MoffettNathanson said,

adding that American Tower ( AMT ) reduced its 2025 leasing forecast by

about $5 million to reflect the slower pace.

American Tower ( AMT ) also trimmed its net income forecast for 2025

to a range of $2.34 billion to $2.44 billion, from a prior $2.74

billion to $2.84 billion, citing weaker foreign currencies

against the U.S. dollar.

While demand for 5G capacity has increased competition among

wireless carriers, generating healthy leasing activity for

American Tower ( AMT ), the company's bottom line has come under

pressure, as second-quarter net income decreased 58.1% from a

year ago to $381 million.

The three largest U.S. telecom firms, AT&T, T-Mobile, and

Verizon, accounted for the bulk of American Tower's ( AMT ) property

segment revenue last year.

American Tower ( AMT ) now expects full-year property revenue

between $10.14 billion and $10.29 billion, up from its prior

forecast of $9.97 billion to $10.12 billion.

For the year, the company expects AFFO per share between

$10.46 and $10.65, above analysts' estimates of $10.27.

The company posted revenue of $2.63 billion for the quarter

ended June 30, compared with analysts' estimates of $2.60

billion.