American Tower stock: CoreSite backs third 2026 outlook raise

American Tower raised its full-year 2026 outlook for the third time with its third-quarter update on October 27, covering the period ended September 30. The company linked the increase to stronger performance at its CoreSite data-center business, while adjusted EBITDA guidance remained broadly unchanged.

The latest investor angle comes from Simply Wall St. Its November 9 analysis said the revised outlook gives investors a new scorecard for how American Tower converts carrier and cloud demand into rent, margins and funding capacity. It identified operator network densification, financing costs and carrier consolidation as key factors for the investment case.

CoreSite remains the growth engine

Third-quarter total revenue increased 2.5 percent year over year to 2.785 billion US dollars, while property revenue rose 4.5 percent to 2.734 billion US dollars. Cash revenue in the Data Centers segment increased 16.3 percent, supporting a 2026 data-center property-revenue outlook of 1.218 billion to 1.228 billion US dollars.

American Tower lifted the midpoint of its 2026 property-revenue outlook by 55 million US dollars to a range of 10.785 billion to 10.865 billion US dollars. The adjusted EBITDA range stands at 7.248 billion to 7.303 billion US dollars. AFFO per share is expected at 11.04 to 11.16 US dollars, with management pointing to capital-allocation decisions as a principal support for the per-share outlook.

Execution remains the next test

The operating picture remains mixed. CoreSite benefits from demand across cloud, network, enterprise and artificial-intelligence customers, while the tower portfolio is exposed to uneven tenant activity and lower non-cash straight-line revenue recognition. American Tower expects 2026 capital expenditures of 1.765 billion to 1.875 billion US dollars, including 695 million US dollars for data-center development.

American Tower stock traded at 172.08 euros on Lang & Schwarz at 15:39 CET on Friday, November 13, 2026.

The current market environment remains relevant for US infrastructure and real-estate shares.

More company-specific developments are available in more news and analyses on American Tower stock.