American Tower
Leases multitenant communications sites worldwide and interconnected U.S. data-center capacity.
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Profile
Leases tower and distributed-antenna-system space to wireless carriers across the Americas, Africa, Asia-Pacific and Europe, while CoreSite provides U.S. data-center colocation and interconnection. Long-term leases and multiple tenants per site create recurring rental income.
Leases space on more than 148,000 communications sites to wireless carriers and other network users, supported by tower-related development services in the United States. The property portfolio spans the United States and Canada, Latin America, Africa and Asia-Pacific, and Europe, while CoreSite provides colocation and interconnection across U.S. data centers.
Creates recurring rent by placing multiple tenants and additional equipment on existing sites, using long-term leases with contractual escalators. Tower services cover site applications, zoning, structural analysis, construction and program management.
Depends on carrier network investment, continued access to leased ground, and reliable power and cooling for data centers. REIT tax treatment is tied to stockholder distributions, while international holdings remain subject to local tax, regulation, currency and land-right regimes.
Company facts
Key statistics
Year to date +0.8% · Average volume (30d) 2.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 20, 2026 | Mizuho Securities | Target | $189 | $208 | ||
| Aug 20, 2026 | Barclays | Reiterate | Overweight | $195 | $198 | |
| Jul 29, 2026 | Bernstein | Reiterate | Outperform | $207 | $214 | |
| Jul 28, 2026 | Goldman Sachs | Target | $215 | $210 | ||
| Jul 9, 2026 | Wolfe Research | Upgrade | Peer Perform | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q2 FY26 | $1.57 | $1.86 | +18.5% | $2.70B | $2.75B | +1.8% | +4.52% |
| Apr 28, 2026Q1 FY26 | $1.60 | $1.84 | +15.0% | $2.66B | $2.74B | +3.1% | −0.12% |
| Feb 24, 2026Q4 FY25 | $1.48 | $1.75 | +18.2% | $2.69B | $2.74B | +1.9% | −4.06% |
| Oct 28, 2025Q3 FY25 | $2.62 | $2.78 | +6.1% | $2.69B | $2.72B | +0.9% | −1.99% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.56B | $2.63B | $2.72B | $2.74B | $2.74B | $2.75B | |
| Gross profit | $1.93B | $1.94B | $2.04B | $1.94B | $2.02B | $2.01B | |
| Operating income | $1.25B | $1.20B | $1.27B | $1.16B | $1.16B | $1.27B | |
| Net income | $488.7M | $366.8M | $853.3M | $821.0M | $836.8M | $867.5M | |
| Diluted EPS | $1.04 | $0.78 | $1.82 | $1.75 | $1.84 | $1.86 | |
| Gross margin | 75.2% | 73.8% | 75.1% | 70.7% | 73.9% | 73.0% | |
| Operating margin | 48.9% | 45.6% | 46.7% | 42.4% | 42.4% | 46.2% |
Fiscal years (4-quarter sums)FY21 $9.36B · FY22 $10.71B · FY23 $10.85B · FY24 $10.80B · FY25 $10.65B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.76B · Total debt $44.98B · Total assets $63.30B · Shareholders' equity $3.72B
Dividends
Raised for 12 straight years — most recently to $1.79 from $1.70 in Apr 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 12, 2026 | Jun 12 | Jul 13 | $1.79 | |
| Apr 14, 2026 | Apr 14 | Apr 28 | $1.79 | raised from $1.70 |
| Dec 29, 2025 | Dec 29 | Feb 2 | $1.70 | |
| Sep 30, 2025 | Sep 30 | Oct 20 | $1.70 | |
| Jun 13, 2025 | Jun 13 | Jul 11 | $1.70 | |
| Apr 11, 2025 | Apr 11 | Apr 28 | $1.70 | raised from $1.62 |
| Dec 27, 2024 | Dec 27 | Feb 3 | $1.62 | |
| Oct 9, 2024 | Oct 9 | Oct 25 | $1.62 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 465.96M · Float 464.52M · 99.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 45.80M | 9.83% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 30.44M | 6.53% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 27.85M | 5.98% | 13F | Aug 13, 2026 |
| State Street Corp | 22.07M | 4.74% | 13F | Aug 7, 2026 |
| Geode Capital Management, LLC | 13.84M | 2.97% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Rajesh Kalathur | director | +2,829 | $177.00 |
| Jul 29, 2026 | Robert Joseph Meyer | officer: SVP & Advisor to the CFO | −5,000 | $178.89 |
| Jul 29, 2026 | Ruth T. Dowling | officer: EVP, Chief Admin Ofr, GC & Sec | −1,106 | $174.96 |
| Jul 28, 2026 | Ruth T. Dowling | officer: EVP, Chief Admin Ofr, GC & Sec | −685 | $169.54 |
| Apr 29, 2026 | Ruth T. Dowling | officer: EVP, Chief Admin Ofr, GC & Sec | −416 | $177.54 |
Peers
- Crown Castle
Pure-play U.S. tower REIT with 40,000 towers leased to three major carriers.
- SBA Communications
Americas-focused tower REIT with 17,000+ U.S. and 29,000+ international sites.
- Equinix
Global carrier-neutral data-center REIT; CoreSite's closest competitor.
- IHS
Emerging-market towerco with 37,000+ sites in Africa; NYSE-listed.
- Digital Realty
Data-center REIT; 300+ global facilities overlapping CoreSite in U.S. markets.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| American Tower | $176.00 | −0.14% | $82.12B | 24.2 | 26.0 | 7.5 | +4.7% |
| Crown Castle | $76.14 | 0.00% | $33.27B | 31.0 | 28.6 | 8.0 | −4.9% |
| SBA Communications | $191.37 | +0.25% | $20.25B | 20.6 | 24.0 | 7.1 | +2.3% |
| Equinix | $1,031.43 | −1.20% | $103.05B | 67.3 | 59.8 | 10.5 | +16.4% |
| IHS | $8.36 | −0.06% | $2.81B | 20.7 | 7.9 | 1.8 | +8.7% |
| Digital Realty | $182.50 | −1.56% | $68.62B | 89.6 | 81.3 | 10.0 | +28.9% |
| Median | 31.0 | 28.6 | 8.0 | +8.7% |