Oct 29 (Reuters) - Real estate investment trust American

Tower ( AMT ) missed estimates for third-quarter revenue on

Tuesday due to diminished customer spending in its leasing

business.

The company leases space on its communications sites to

firms including wireless service providers as well as radio and

television broadcasters.

An uncertain economy has led telecom companies to reduce

spending, leading to lower leasing activity and decreased demand

for tower space.

American Tower ( AMT ) now expects annual adjusted funds from

operations, a key measure of cash flow, to be between $9.86 per

share and $10.03 per share. Analysts had estimated it to be

$10.59 per share, according to data compiled by LSEG.

It attributed the revised forecast to adjustments and said

the sale of ATC to Brookfield Asset Management ( BAM ) was not

considered in the previous financial forecast.

Revenue at its property segment, comprising its site-leasing

business, fell 1% to $2.47 billion in the reported quarter.

The wireless infrastructure provider reported total revenue

of $2.52 billion in the third quarter, below an estimate of

$2.76 billion, according to data compiled by LSEG.

American Tower's ( AMT ) main customers include telecom giants such

as AT&T ( T ), Verizon and T-Mobile. They

accounted for a significant portion of revenue from its property

segment in the U.S. and Canada last year.

The company expects full-year 2024 total property revenue

between $9.89 billion and $9.98 billion, down from its prior

forecast of $11.1 billion to $11.28 billion.

It reported AFFO of $2.52 per share in the third quarter,

compared with an estimate of $2.58 per share.