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American Tower Corporation AMT

Real Estate — Reit Specialty
S&P 500 Member Cash Flow Champion (3y) Insider Buys (last 12m)
Indexes indicate stock being part of an index ,
Growth Flags show if company had growth for consecutive years ,
Insider Buys alert about insiders buying in the last 12 month

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Insider Decisions

Total buys
1.99
Total sells
23.12
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy 1 — — — — 1 — — — — 1 —
Sell — — — — 2 3 1 — — 2 — —
Insider Ownership
0.18%

Capital & Financial Ratios

Market Cap
81,810.00
Revenue
10,941.50
Net Income
3,515.40
Free Cash Flow
3,959.80
Net Debt
35,297.00
Current Ratio
0.52
Debt/Equity
3.63
P/E ratio
23.90
P/S ratio
7.41
P/B ratio
7.91
Past 5Y EPS Growth
2.60%
This Y EPS Growth
29.07%
Next Y EPS Growth
0.68%
Next 5Y EPS Growth
12.81%
in millions of $

Dividends

Payout Ratio
3.00
Annual Dividend Rate
6.48
Annual Dividend Yield
3.31%
total individual payouts
2028 ‡‡‡‡‡
2027 ‡‡‡‡‡
2026 7.14
—
—
2025 6.80
—
—
—
—
2024 6.48
—
—
—
—
2023 6.45
—
—
—
—
2022 5.86
—
—
—
—
2021 5.21
—
—
—
—
2020 4.53
—
—
—
—
2019 3.78
—
—
—
—
2018 3.15
—
—
—
—
2017 2.62
—
—
—
—
2016 2.17
—
—
—
—
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 1,873.40 2,108.20 1,605.20 1,892.60
Receivables 547.50 540.00 650.30 650.90
Inventory — — — —
Other — — — —
3,176.20 3,325.10 3,132.40 3,571.90
2023 2024 2025 Q'26
Payables 251.30 240.80 259.80 202.80
ST’ Debt 3,067.30 3,693.00 3,387.80 5,226.50
Other — — — —
4,755.60 5,389.40 5,185.30 6,876.70
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26 2,737.50 2,749.10 — —
—
’25 2,562.80 2,626.90 2,717.40 2,737.50
10,644.60
’24 2,512.60 2,544.70 2,522.30 2,547.60
10,127.20
’23 2,767.20 2,771.70 2,521.10 1,952.20
10,012.20
’22 2,660.30 2,674.30 2,671.50 1,639.30
9,645.40
’21 2,158.50 2,298.90 2,454.30 2,445.20
9,356.90
’20 1,993.10 1,913.00 2,012.90 2,122.50
8,041.50
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26 1,400.60 1,486.80 — —
—
’25 1,295.00 1,281.50 1,460.00 1,427.50
5,464.00
’24 1,283.60 1,338.50 1,469.40 1,199.00
5,290.50
’23 1,070.50 1,209.40 1,300.60 1,141.90
4,722.40
’22 663.60 915.30 932.30 1,185.00
3,696.20
’21 1,092.70 951.90 2,096.40 678.90
4,819.90
’20 800.00 988.80 960.30 1,132.30
3,881.40
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26 951.10 1,165.90 — —
—
’25 963.90 976.90 994.50 848.30
3,783.60
’24 886.90 1,013.30 1,044.70 755.60
3,700.50
’23 608.60 788.50 909.90 617.30
2,924.30
’22 277.50 545.20 473.10 526.80
1,822.60
’21 767.90 674.00 1,782.40 218.90
3,443.20
’20 585.60 778.30 716.40 769.40
2,849.70
in millions of $

EPS

Mar Jun Sep Dec Year
’26 1.84 1.86 — —
—
’25 1.04 0.78 1.82 1.75
5.40
’24 1.96 1.92 (1.69) 2.62
4.82
’23 0.72 1.02 1.26 0.18
3.18
’22 1.56 1.95 1.80 (1.47)
3.82
’21 1.45 1.65 1.58 0.99
5.66
’20 0.93 1.00 1.04 0.82
3.79

Target Price Range

High
‡‡‡‡‡
‡‡‡‡‡
Average
‡‡‡‡‡
‡‡‡‡‡
Low
‡‡‡‡‡
‡‡‡‡‡

Recommendation Rating

1.3
1
Buy
2
3
Hold
4
5
Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 178.17 154.58 170.46 170.77 — — —
Low Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 292.55 235.57 243.56 234.33 — — —
High Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 6,391 5,643 4,691 2,388 — — —
Employees
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.51 1.77 2.16 4.46 — — —
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 9,645.40 10,012.20 10,127.20 10,644.60 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 73.36% 74.42% 74.58% 74.18% — — —
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2,086.00 1,529.30 3,624.80 3,044.20 ‡‡‡‡‡ — —
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 21.63% 15.27% 35.79% 28.60% ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,696.70 1,367.10 2,280.20 2,628.50 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3,402.60 3,136.30 2,178.90 2,095.70 — — —
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 20.90 21.48 21.69 22.75 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ 3.83 3.18 4.83 5.41 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 8.01 10.13 11.33 11.68 ‡‡‡‡ — —
Cash Flow/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (4.06) (3.86) (3.40) (3.59) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3.95 6.27 7.92 8.09 — — —
Free CF/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 26.89 23.31 20.66 22.13 ‡‡‡‡‡ — —
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 461.52 466.06 467.01 467.92 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 55.76 68.81 37.97 32.45 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 10.27 10.19 8.46 7.72 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 7.98 9.39 8.88 7.93 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 14.06 13.87 11.85 11.06 ‡‡‡‡ ‡‡‡‡ ‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 74.40 47.50 32.44 31.13 — — —
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3,696.20 4,722.40 5,290.50 5,464.00 ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (1,873.60) (1,798.10) (1,590.00) (1,680.40) ‡‡‡‡‡ ‡‡‡‡‡ —
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,822.60 2,924.30 3,700.50 3,783.60 ‡‡‡‡‡ — —
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (2,892.30) (1,579.40) (2,064.30) (2,052.90) — — —
Working Cap'
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 38,670.20 38,801.30 36,501.80 37,220.30 — — —
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 36,529.50 36,927.90 34,393.60 35,615.10 — — —
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 12,408.50 10,865.40 9,648.70 10,355.30 — — —
Sh' Equity
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2.58% 2.23% 3.55% 4.07% ‡‡‡‡‡ — —
ROA
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3.50% 4.09% 6.41% 6.59% — — —
ROIC
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 16.44% 12.75% 21.98% 25.29% ‡‡‡‡‡ — —
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

American Tower Corporation (AMT), a premier owner of cell towers and data centers, stands to capitalize on explosive 5G rollout and AI-fueled data demand, with revenue surging 75% since 2016 to $10.1 billion in 2024 at a 7.8% CAGR, driven by acquisitions like CoreSite, international expansion, and operational efficiencies that doubled revenue per employee. Gross margins hit 74.6%, free cash flow rebounded sharply to $3.7 billion, and projections eye steady growth to $11.4 billion by 2027, alongside EPS climbing 47% to $7.09.

Yet, high interest rates have hammered valuations amid a hefty $36.5 billion debt load (net debt-to-EBITDA ~5-6x), causing stock volatility and equity contraction, though deleveraging, fixed-rate debt, and improving ROIC to 6.4% offer resilience. Trading at rationalized multiples (trailing P/E 38x, EV/FCF 32x), AMT lags peers slightly but boasts analyst targets implying 12% average upside (up to 35%), tempered by mild insider net selling.

Forward tailwinds like $1 trillion in global 5G capex and edge computing could deliver mid-teens total returns if rates ease, funding robust dividends and buybacks—despite risks from tenant churn, geopolitics, and macro pressures. Watch Q1 2026 earnings for momentum signals in this infrastructure boom.

Read full commentary →

American Tower Corporation (AMT) Latest News

News by impact score

Fine-tune

12 Sep

4 www.marketbeat.com, 8:01 PM
American Tower expects 5G, AI and CoreSite demand to fuel its growth. 5G, AI and CoreSite demand are positioned to drive substantial growth for American Tower.

4 www.marketbeat.com, 7:01 PM
American Tower projects a 2026 growth trough before 5G, AI and 6G catalysts increase demand. Projected 2026 trough followed by 5G AI 6G demand surge signals major long-term trajectory shifts for the company.

10 Sep

4 247wallst.com, 9:45 AM
Wells Fargo analyst states SpaceX wireless service will crush carriers while tower REITs like American Tower profit quietly from the development. SpaceX wireless rollout creates new leasing demand for American Tower infrastructure.

21 Aug

3 , 4:09 PM
Barclays upgraded American Tower (AMT) amid CoreSite momentum, which could alter the bull case for the company. Barclays upgrade of AMT with CoreSite momentum points to moderate effects on future performance and sentiment.

3 , 11:11 AM
Barclays upgraded American Tower (AMT). Questions remain on whether the valuation still looks cheap. Barclays upgrade may moderately influence AMT market sentiment and short-term valuation views.

3 , 1:10 AM
Analysis suggests American Tower (AMT) shares may trade at a 40% discount to fair value estimates. Valuation discount claim may draw investor attention and mildly support near-term sentiment without altering core operations.

3 Aug

3 , 9:15 AM
American Tower international revenues show region-specific trends with forecasts pointing to continued expansion in key markets outside the US. International revenue trends and forecasts can moderately influence AMT financial outlook and investor expectations.

29 Jul

4 , 6:06 AM
American Tower achieved record CoreSite leasing and strong Q2 results that positively shift its investment narrative. Record leasing and robust quarterly results point to major operational gains that can materially lift future performance and sentiment.

28 Jul

4 , 3:26 PM
American Tower raises outlook after CoreSite leasing hits record levels. Raised outlook tied to record CoreSite leasing signals stronger revenue trajectory and positive market reaction.

4 app.moby.co, 1:37 PM
American Tower Corporation held its Q2 2026 earnings call, covering quarterly financial results, operational metrics and forward guidance. Quarterly earnings releases and guidance directly move valuations and investor positioning for the company.

3 transcript , 5:02 PM
American Tower Corp reported strong global leasing demand during its Q2 2026 earnings call. Positive leasing demand directly supports recurring revenue growth in core tower operations.

3 , 11:20 AM
American Tower Q2 AFFO met estimates, revenues beat forecasts, and 2026 outlook was raised. Q2 earnings beat and raised 2026 guidance may lift near-term sentiment but represent routine updates unlikely to shift long-term trajectory.

3 transcript www.marketbeat.com, 11:04 AM
American Tower Q2 earnings call highlighted financial results, tower portfolio growth, leasing demand and capital allocation plans. Q2 results and outlook updates can moderately sway near-term investor sentiment and valuation.

3 investorshub.advfn.com, 8:37 AM
American Tower beats second-quarter estimates but revenue outlook misses expectations. Mixed quarterly results may influence near-term stock sentiment without altering long-term trajectory.

3 , 7:00 AM
American Tower Corporation reported its second quarter 2026 financial results. Quarterly earnings releases can moderately influence short-term stock movement and investor views.

27 Jul

3 www.trefis.com, 4:56 PM
Equinix stock performance signals strategic warnings to American Tower Corporation management on competitive positioning and investor expectations in digital infrastructure. Equinix share trends underscore indirect competitive pressures on American Tower Corporation's market stance without immediate operational shifts.

20 Jul

3 , 8:07 AM
American Tower (AMT) stock remains below fair value after a 30% slump. Valuation reassessment after price drop may moderately lift investor sentiment and share trajectory.

3 Jul

3 www.marketbeat.com, 11:05 AM
AST SpaceMobile secures Japan regulatory and partnership progress that restarts momentum for its satellite-based direct-to-device rollout, drawing renewed attention to spectrum, licensing, and commercial timelines. Satellite direct-to-cell deployment in Japan introduces moderate long-term competitive pressure on terrestrial tower demand and leasing growth for AMT.

30 Jun

3 , 5:08 PM
Index additions and AI infrastructure optimism may shift the investment perspective on American Tower Corporation (AMT). Index inclusions lift passive ownership while AI-driven leasing supports tower revenue growth.

3 , 6:26 AM
Goldman Sachs highlights American Tower's diversification benefits alongside expanding data center exposure as core positives supporting the company's positioning. Analyst commentary on diversification and data center growth offers moderate positive sentiment without altering core operations or long-term trajectory.

26 Jun

3 , 3:51 PM
RBC forecasts American Tower to exceed competitors in revenue growth. RBC revenue outperformance forecast may lift near-term investor sentiment for AMT.

3 , 2:43 PM
Analysts grow more bullish on American Tower, naming it the top U.S. tower pick. Rising analyst support can lift sentiment and valuation but rarely shifts fundamentals.

15 Jun

4 , 4:30 AM
Bernstein upgraded American Tower (AMT) citing long-term demand growth from 5G deployment and data centers. Analyst upgrade on core 5G and data center demand signals major positive shift in growth trajectory and investor sentiment.

10 Jun

3 Zacks, 9:27 AM
American Tower offers compelling reasons for portfolio inclusion due to its leading position in wireless infrastructure, expanding data center assets, consistent revenue growth from long-term leases, and strategic benefits from 5G and digital infrastructure demand. Positive factors around asset growth and 5G positioning may moderately support financial results and stock sentiment without guaranteeing major trajectory shifts.

23 May

3 Simply Wall St., 10:09 AM
American Tower shares rose 7.7% after a dividend hike and debt raise, prompting questions on whether the bull case remains intact. Dividend hike plus debt issuance can shift near-term capital structure and sentiment without fundamentally redefining long-term trajectory.

19 May

3 247wallst.com, 12:05 PM
Bernstein upgraded American Tower to Outperform with a $207 price target, raising questions on whether to buy tower REITs. Analyst upgrade with price target offers moderate positive influence on near-term investor sentiment and valuation.

3 Investing.com, 10:35 AM
Bernstein upgraded American Tower to bullish and projected 17 percent upside for the shares. Bernstein bullish call signals moderate short-term lift to investor sentiment and share price without changing core operations.

8 May

4 Simply Wall St., 3:21 AM
Investors are reacting positively to American Tower Corporation (AMT) upgrading its 2026 outlook and completing a share buyback, boosting stock sentiment amid expectations of stronger future performance. Upgraded 2026 outlook and completed buyback represent major strategic positives that significantly enhance AMT's financial trajectory and investor confidence.

5 May

4 , 1:51 PM
Analysts raised price targets for American Tower (AMT) following better-than-expected Q1 results. Better-than-expected Q1 results drove analyst price target increases, signaling significant positive shifts in investor sentiment and stock trajectory.

4 May

3 Zacks, 9:15 AM
American Tower Corporation's international revenue trends merit close attention due to their implications for the company's overall performance and growth prospects. International revenue trends could moderately influence AMT's financial performance amid balanced global operations.
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