AMTAmerican Tower Corporation
American Tower Corporation (AMT) is a real estate investment trust (REIT) that owns and operates a portfolio of communication towers, data centers, and other infrastructure assets used by wireless carriers and internet service providers. The company generates revenue through long-term leases to telecom companies, with a focus on 5G and AI-driven infrastructure. The next catalyst is Oct 27, 2026 — Q3 2026 Earnings Release & FFO Run-Rate, which will test the company’s ability to sustain revenue growth and maintain its FFO guidance amid rising interest rates and capital deployment pressures.
- Revenue grew 20.8% YoY to $917.30M, driven by strong leasing demand and data center expansion.
- Net margin (TTM) reached 345.9%, reflecting high leverage and operational efficiency.
- Debt-to-equity ratio of 10.19x highlights the company’s capital-intensive model and reliance on debt financing.
The Read
American Tower's stock historically reacted with a median absolute move of ~2%.
The schedule
- Tue27Oct
Additional details on FFO run-rate and operational performance.
- Tue17Nov
Announcement on capital structure and dividend policy adjustments.
- Tue12Jan
Update on capital expenditure plans for 5G and AI infrastructure projects.
- Tue9Feb
Earnings release with guidance on 2027 growth and capital allocation.
- Tue27Apr
Earnings release with updated guidance on 2027 performance and strategic initiatives.
- Tue27Jul
Past
- Wed16Sep
FOMC rate decision and its impact on REIT valuations and yield.
- Tue28Jul
Actual outcome: Bull · $173.77 at outcome
American Tower reported Q2 AFFO and EPS that met Wall Street estimates, alongside a revenue beat driven by strong tower leasing and data center growth. The company also raised its full-year 2026 outlook, signaling continued business momentum and driving the stock to reach its bull target.
Q2 earnings evaluating AFFO resilience and 5G infrastructure demand against a backdrop of tight rate-sensitive valuations.
- Tue28Apr
Actual outcome: Mixed · $179.77 at outcome
American Tower reported a Q1 FFO beat of $2.84 per share and raised its full-year 2026 guidance midpoints on strong leasing demand. However, the stock remained flat as analysts highlighted that the guidance raise was primarily driven by foreign exchange tailwinds rather than core business acceleration, resulting in a rating downgrade and a muted market reaction.
- Wed18Mar
Actual outcome: Bear · $176.79 at outcome
The FOMC guidance was delivered against a backdrop of rising interest rates and inflationary pressure fueled by surging oil prices and geopolitical conflict, which is fundamentally bearish for rate-sensitive REITs. Consequently, American Tower's stock fell 2.2% as investors priced in higher borrowing costs and a more restrictive monetary environment, moving the price toward the bear floor.
- Tue24Feb
Actual outcome: Bull · $190.20 at outcome
American Tower surpassed Q4 AFFO and revenue estimates driven by robust 5G leasing activity, though GAAP earnings missed expectations. The stock moved higher as 2026 guidance signaled the end of the multi-year Sprint churn headwind, which is expected to drive organic billings growth above 5% and accelerate long-term AFFO expansion.
