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.

Competition among wireless service providers has been rising

as they rush to enhance capacity for 5G services, benefiting

companies like American Tower ( AMT ).

The Boston, Massachusetts-based company leases space at its

communication sites to wireless service providers, radio and

television broadcasters and other firms that require network

infrastructure.

Telecom firms including AT&T ( T ), T-Mobile and

Verizon accounted for 86% of revenue for the property

segment in the U.S. and Canada 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.

The company said its raised forecast also reflects a boost

for property revenue from fluctuations in foreign currency

exchange rates.

For the year, the company now expects adjusted funds from

operations (AFFO) per share between $10.46 and $10.65, above

analysts' estimates of $10.27, according to data compiled by

LSEG.

The company posted second-quarter revenue of $2.63 billion,

compared with analysts' estimates of $2.60 billion.

The company's quarterly net income decreased 58.1% from a

year ago to $381 million, primarily due to foreign currency

losses, the company said.

For the second quarter, AFFO came in at $2.60 per share,

compared with $2.54 per share a year earlier.