American Tower Corp.

American Tower Corp.

AMT

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Market Cap$87.1B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
American Tower Corp.American Tower Corp.30.32.73%79%7.912.4

Earnings Call Q1 2026

April 28, 2026 - AI Summary

Strong start to 2026; full-year outlook raised (FX + straight-line tailwinds) - Management said Q1 performance plus favorable FX and straight-line dynamics drove an upward revision to full-year guidance. - Property revenue outlook: raised by ~$145M at midpoint (~+1% increase) → implies ~+3% YoY (excluding noncash straight-line & FX). - Adjusted EBITDA outlook: raised by ~$105M at midpoint (~+1%) → implies ~+2% YoY (excluding noncash net straight-line & FX). - AFFO per share outlook: raised by $0.12/share (~+1%) → implies ~+2% YoY (reported); ~+~5% YoY on an FX-neutral basis (excluding one-time DISH churn/refinancing impacts).
Core operating performance: modest organic tower growth + strong data center momentum - Q1 highlights (normalized/cash-neutral framing used repeatedly): - Organic tenant billings: ~+2% YoY, or ~+4% excluding one-time DISH churn. - Data center cash revenue: ~+17% (excluding noncash straight-line); supports double-digit data center growth. - Segment growth: - U.S./Canada: ~+1%, or ~+5% excluding DISH churn. - Africa/APAC: ~+11% organic. - Europe: ~+4% organic. - Latin America: ~-2%, primarily higher churn in Brazil (noted as partly timing-related: delayed churn from 2025 and accelerated churn expected in 2027). - Investors should note the company framed expectations as “back-half weighted” churn (not all bad news for the year’s trajectory): - Churn expected to result in roughly ~10% organic growth H1 and ~7% organic growth H2 (per management’s churn profile).
DISH churn is the key near-term drag—company says it’s de-risked - Call repeatedly emphasizes one-time DISH-related churn as the main item causing normalization effects. - Q1 margin pressure: Adjusted EBITDA margins down ~110 bps YoY, attributed to DISH churn, SG&A timing, and higher fuel prices in Africa. - Management’s “good news / surprising framing”: - They say they have completely de-risked guidance/earnings by taking DISH out of the numbers—so incremental DISH developments are framed as upside vs guidance rather than additional downside. - AFFO per share bridge in outlook discussion (important for investors): - Q1/Q2-era event impacts include ~400 bps headwind from DISH churn; management suggests that once this event clears, the underlying run-rate improves.

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$213.60

Target Price by Analysts

17.2% upsideAmerican Tower Target Price DetailsTarget Price
$172.11

Current Fair Value

5.6% downside

Overvalued by 5.6% based on the discounted cash flow analysis.

Share Statistics

Market cap$87.10 Billion
Enterprise Value$130.92 Billion
Dividend Yield$5.10 (2.73%)
Earnings per Share$5.4
Beta0.9
Outstanding Shares466,202,000

Return

Return on Equity78.79%ROE
Return on Assets4.55%
Return on Invested Capital8.78%

Valuation & Multiples

P/E Ratio30.29P/E Ratio
PEG42.52PEG
Price to Sales7.92Price to Sales
Price to Book Ratio8.28Price to Book Ratio
Enterprise Value to Revenue12.1
Enterprise Value to EBIT26.49
Enterprise Value to Net Income45
Total Debt to Enterprise0.35
Debt to Equity12.4Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 5, 2026
EPS Estimate
$1.59
Average shareholder expectation
Revenue Estimate
$2.65 B
Average shareholder expectation

Next Earnings Call

Expected Date
August 4, 2026
EPS Estimate
$1.55
Average shareholder expectation
Revenue Estimate
$2.70 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.9945▲ 27.27%
Total Calls1,619,133▼ 26.85%
Total Puts1,610,308▲ 0.78%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %91.93%▼ 9.53%
Total Invested$74.38B▼ 3.20%
Investors Holding1,800▼ 34.00%

ESG Score

No data

About American Tower Corp.

5,454 employees
CEO: Thomas Bartlett

American Tower Corporation is an American real estate investment trust and an owner and operator of wireless and broadcast communications infrastructure in several countries worldwide and is headquartered in Boston, Massachusetts. As of...

Relevant Senate Committees

Joint Committee on Taxation

This committee provides critical analysis and revenue estimates for all tax legislation. Its technical expertise directly influences the tax structure and burden for American Tower, especially as a REIT.

Finance

This committee controls taxation and trade. As a REIT, American Tower is heavily influenced by corporate tax policy, REIT-specific regulations, and trade policies affecting its global operations and overall profitability.

Banking, Housing, and Urban Affairs

As a Real Estate Investment Trust (REIT), American Tower is directly impacted by financial system regulation (SEC, Fed), interest rate policy, and broader real estate market conditions, all overseen by this committee.

Commerce, Science, and Transportation

This committee directly regulates interstate commerce, the FCC, and telecommunications. Decisions on spectrum allocation, 5G deployment, and net neutrality profoundly impact the demand for American Tower's infrastructure and its customer base.

Foreign Relations

American Tower has significant international operations across multiple continents. Foreign policy, treaties, and sanctions can directly impact its ability to operate, expand, or repatriate profits from non-U.S. markets.