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American Tower Corp

American Tower Corp

AMT
$176.02USD↑+0.18%+0.32 today

MARKET CAP

82.0B

P/E (TTM)

24.2x

FWD P/E

25.5x

DAY RANGE

$175 – $178

52W RANGE

$160
$205

AI Summary

Stalk
StalkMedium

AMT remains in a longer-term downtrend but has formed a clear higher-highs/higher-lows sequence over recent months, supported by bullish short-term EMA alignment. Price is caught between rising 50-day and 200-day moving averages, with EMAs flattening and the RSI in overbought territory, suggesting limited immediate upside. Patience is warranted—deferred entries around the 9/20/50 EMA zone in the mid-170s offer a structurally preferable pullback interaction. A decisive break below the recent swing lows would invalidate this bullish medium-term bias.

  • ↑Consolidated property revenue rose ~5% YoY to $2.13 B in Q1 2026.
  • ↑Raised AFFO/share growth guidance to mid-single digits.
  • ↓Negative earnings yield and rising rates pressure valuation.
Full analysis →

The case for & against

Bull & Bear analysis

Bearish

American Tower Corporation (NYSE: AMT) is a leading global independent owner, operator, and developer of multitenant communications real estate, focusing on the acquisition and operation of wireless and broadcast communications tower infrastructure worldwide. The company is strategically positioned to capitalize on the ongoing growth in mobile data consumption, carrier network upgrades, and the increasing demand for data centers, particularly in the 5G rollout phase.

Bull says

  • ↑Consolidated property revenue rose ~5% YoY to $2.13 B in Q1 2026.
  • ↑Raised AFFO/share growth guidance to mid-single digits.
  • ↑Cash-adjusted EBITDA margins have expanded ~300 bps since 2020.
  • ↑Q1 2026 share buybacks totaled $184 M under a $2 B repurchase plan.
  • ↑Data center revenue forecast +12%, driven by hybrid and multi-cloud demand.
  • ↑High dividend yield (1.51%) and positive leverage signal solid returns.

Bear says

  • ↓Negative earnings yield and rising rates pressure valuation.
  • ↓Removed DISH’s ~2% revenue after default, undermining guidance.
  • ↓Latin America organic tenant billings down >2% amid higher churn.
  • ↓Q1 EBITDA margins fell ~110 bps, straining profitability.
  • ↓Regulatory hurdles slow M&A, requiring a constructive environment.
  • ↓High interest-rate sensitivity and elevated leverage raise risk.

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Earnings Call · Q2 2025 · Mgmt. Guidance

Updated 08-15-2026neutral

Transcript signals

Bull points

  • American Tower's second quarter earnings conference call
  • overall, the leasing pipeline there is consistent with what we had in our underwriting for the deal originally, which aligns with our expectations of mid-single digit organic growth in that region.
  • we had a strong second quarter, driven by resilient demand across our global portfolio.

Bear points

  • It's developing slower than we thought it was going to.
  • Increased bad debt associated with Latin America customer collections and other non-recurring and timing-related costs.
  • incremental bad debt associated with certain Latin America customers.
Read full transcript analysis ›