American Tower stock gets third 2026 outlook boost

Published on 11/05/2026 at 14:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

American Tower stock draws support from stronger CoreSite leasing. Management kept its adjusted EBITDA outlook unchanged.

Growth and guidance update

CoreSite lifted American Tower's data center momentum, while global tower leasing remained steady.
Management raised the full-year property revenue outlook midpoint by 55 million US dollars.
The company maintained its adjusted EBITDA midpoint and increased the AFFO-per-share midpoint by 0.02 US dollars.

American Tower, US03027X1000, Illustration mit AI erstellt.

American Tower raised its full-year 2026 outlook for the third time this year after reporting third-quarter results on October 27. The company cited steady leasing demand across its global tower portfolio and continued outperformance at CoreSite, its data center platform, in the American Tower financial release.

CoreSite drives the outlook increase

Third-quarter total revenue rose 2.5 percent to 2.785 billion US dollars, while property revenue increased 4.5 percent to 2.734 billion US dollars. Data center cash revenue grew 16.3 percent, helping offset softer trends in parts of the tower portfolio.

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 midpoint implies 5.0 percent growth from the prior year. The Data Centers segment is expected to contribute 1.218 billion to 1.228 billion US dollars of property revenue, representing midpoint growth of 16.1 percent.

Management kept the adjusted EBITDA outlook midpoint unchanged at 7.275 billion US dollars. It lowered the net income outlook midpoint by 30 million US dollars, primarily because of unrealized losses on equity securities, while lifting the midpoint of AFFO attributable to common stockholders per share by 0.02 US dollars to a range of 11.04 to 11.16 US dollars.

Reported earnings show mixed signals

Net income fell 14.4 percent to 781 million US dollars, and net income attributable to common stockholders declined 10.3 percent to 766 million US dollars. The company said the comparison was affected by unrealized losses on equity investments, which contrasted with unrealized gains in the prior-year quarter.

Adjusted EBITDA increased 0.9 percent to 1.832 billion US dollars, while AFFO attributable to common stockholders rose 2.4 percent to 1.335 billion US dollars. AFFO per share advanced 3.2 percent to 2.87 US dollars. Reported revenue growth was also affected by lower non-cash straight-line revenue recognition.

Capital allocation remains in focus

American Tower repurchased approximately 1.8 million shares for 315 million US dollars during the quarter. On October 23, the board authorized an additional 2.0 billion US dollars for future repurchases, expanding the capital-allocation options available to management.

The company also declared a quarterly common-stock distribution of 1.79 US dollars per share, up 5.3 percent from the prior year. A planned sale of its Canadian subsidiaries is expected to close during the fourth quarter, subject to customary conditions.

The real-time quote of American Tower stock was 174.23 euros on Lang & Schwarz at 13:50 CET on Thursday, November 5, 2026.