American Tower (NYSE:AMT) Announces Quarterly Earnings Results, Beats Estimates By $1.14 EPS

American Tower (NYSE:AMT) released its earnings results on Tuesday. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $1.14, Briefing.com reports. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.60 earnings per share. American Tower updated its FY 2026 guidance to 11.000-11.170 EPS.

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

• American Tower raised its 2026 outlook for the second time. The company cited consistent global tower growth, CoreSite outperformance, operating expense benefits, and favorable foreign exchange, raising property revenue, adjusted EBITDA, and AFFO per share guidance.
• CoreSite delivered another record leasing quarter. Data center revenue growth is now expected to be approximately 15% for 2026, with demand from cloud, enterprise, AI, and interconnection customers supporting a pipeline that could nearly triple capacity from current levels.
• The company sees multiple long-term growth catalysts for its tower portfolio, including 5G capacity densification, roughly 800 MHz of expected new spectrum, AI-driven traffic growth, and eventual 6G deployment. Management said new U.S. carrier business is contributing about 250 basis points to organic tenant billings growth.
• American Tower completed the sale of its Philippines and Bangladesh operations, exiting APAC and concentrating capital on developed markets. Management said leverage remains within its three-to-five-times target range, while share repurchases, M&A, debt reduction, and further CoreSite investment remain available capital-allocation options.
• 2026 AFFO per share growth remains constrained by temporary headwinds. One-time DISH churn, higher refinancing costs from elevated interest rates, and lower services revenue are expected to weigh on results, although management characterized 2026 as a trough year and expects growth to improve toward its mid- to high-single-digit long-term range afterward.

American Tower Trading Up 6.1%

NYSE:AMT traded up $10.10 during trading hours on Tuesday, hitting $176.84. 583,217 shares of the company were exchanged, compared to its average volume of 3,193,787. American Tower has a one year low of $160.06 and a one year high of $219.00. The company has a fifty day simple moving average of $176.56 and a 200 day simple moving average of $178.30. The stock has a market capitalization of $82.39 billion, a price-to-earnings ratio of 28.52, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, June 12th. American Tower’s dividend payout ratio is 115.67%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMT. JPMorgan Chase & Co. decreased their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Barclays cut their price target on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Finally, Mizuho raised shares of American Tower from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $189.00 to $205.00 in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.57.

Insider Activity at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the transaction, the executive vice president directly owned 29,461 shares in the company, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMT. Swiss RE Ltd. bought a new position in American Tower in the 4th quarter worth $25,000. Acumen Wealth Advisors LLC bought a new position in shares of American Tower in the fourth quarter worth about $29,000. Triumph Capital Management purchased a new stake in shares of American Tower during the third quarter worth about $29,000. Kemnay Advisory Services Inc. purchased a new stake in shares of American Tower during the fourth quarter worth about $33,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in American Tower during the 3rd quarter valued at approximately $35,000. Institutional investors own 92.69% of the company’s stock.

More American Tower News

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

• Positive Sentiment: American Tower reported second-quarter revenue of $2.75 billion, up 4.7% year over year, while net income attributable to common stockholders rose 136.5% to $868 million, or $1.86 per diluted share. Adjusted EBITDA increased 3.2% to $1.81 billion and AFFO rose 3.8% to $1.26 billion. Reuters article
• Positive Sentiment: The company raised the midpoints of its 2026 guidance for property revenue, adjusted EBITDA, AFFO and AFFO per share. Its updated full-year EPS outlook of $11.00 to $11.17 is above the $10.66 analyst consensus, supporting expectations for stronger profitability. Seeking Alpha article
• Positive Sentiment: Management cited robust global tower leasing demand, record leasing activity at CoreSite and continued operational execution. The company also declared a $1.79-per-share quarterly distribution and ended the quarter with approximately $9.9 billion in liquidity, factors that may reinforce the stock’s income and financial-strength appeal. American Tower second-quarter results
• Neutral Sentiment: Investor attention is also focused on the Federal Reserve’s upcoming decision. Potential changes in interest-rate expectations could influence REIT valuations and borrowing costs, partially offsetting the benefit of American Tower’s strong operating results. Kalkine Media article

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.