American Tower (NYSE:AMT) Issues Quarterly Earnings Results

American Tower (NYSE:AMT) released its quarterly earnings data on Tuesday. The real estate investment trust reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $1.23, Zacks reports. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.76 billion. American Tower’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.78 EPS.

Here are the key takeaways from American Tower’s conference call:

• American Tower raised its 2026 property revenue and AFFO per share outlook for the third time this year, supported by resilient tower leasing, CoreSite outperformance, and share repurchases. Management maintained its adjusted EBITDA outlook.
• CoreSite data center revenue growth is now expected to reach approximately 16%, up from 15% previously, with strong demand from cloud, network, enterprise, and AI customers. Management cited robust leasing, rising interconnection activity, and mid-teens or better expected stabilized yields on incremental capital.
• Management expects 2026 to be the trough year for U.S. and Canada organic tower growth and AFFO per share growth, with acceleration in 2027 as DISH-related churn laps and carrier activity improves. Longer-term catalysts include 5G densification, new spectrum deployments, 6G, AI traffic, and potential satellite-terrestrial network builds.
• The company agreed to sell its Canada portfolio for approximately $202 million and repurchased $315 million of stock during the quarter, with an additional $68 million purchased after quarter-end. The board added $2 billion to the buyback authorization, leaving approximately $3.1 billion available, while leverage remained within the target range at 4.9 times.
• Network services revenue guidance was reduced to approximately $220 million because certain customer projects were delayed, creating a $15 million adjusted EBITDA headwind; management said the work is delayed rather than canceled. Latin America also remained pressured by elevated Brazil churn, while an AT&T Mexico dispute continues with no expected arbitration ruling until early 2027.

American Tower Stock Performance

Shares of NYSE AMT opened at $183.71 on Wednesday. The company’s 50 day simple moving average is $175.17 and its 200 day simple moving average is $177.12. American Tower has a fifty-two week low of $160.06 and a fifty-two week high of $202.50.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th were paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, September 30th.

Insiders Place Their Bets

In other news, Director Rajesh Kalathur purchased 2,829 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were bought at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the acquisition, the director directly owned 7,765 shares in the company, valued at approximately $1,374,405. This trade represents a 57.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

Trending Headlines about American Tower

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Q3 results exceeded expectations. American Tower reported $2.87 in funds from operations (FFO) per share, up from $2.78 a year earlier and ahead of the $2.84 consensus estimate. Revenue rose 2.5% year over year to approximately $2.79 billion, surpassing estimates of $2.76 billion. American Tower Q3 earnings report
• Positive Sentiment: Management raised its 2026 outlook for the third time. Higher expected property revenue and AFFO reflect steady global leasing demand and continued tenant activity. American Tower raises 2026 outlook
• Positive Sentiment: Data-center growth strengthened. CoreSite revenue increased 16.3%, supported by record demand from artificial-intelligence and cloud customers. American Tower now expects 2026 data-center revenue growth of 16% and is targeting 200–300 basis points of tower-margin expansion by 2030. American Tower data-center outlook

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Jefferies Financial Group reduced their price target on shares of American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Truist Financial reiterated a “buy” rating and issued a $207.00 target price (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. Barclays raised their target price on American Tower from $198.00 to $199.00 and gave the company an “overweight” rating in a research note on Wednesday, September 30th. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Finally, The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $214.90.

American Tower declared that its board has initiated a stock repurchase plan on Tuesday, October 27th that permits the company to buy back $2 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

American Tower Company Profile

American Tower Corporation (NYSE:AMT) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.