Analyst Consensus ?
ConsensusBuy47 ratings
Bullish4085.1%
Neutral714.9%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
American Tower Corporation · AMT · FY2025 Q2 · Calendar Q3 2025
American Tower raises outlook as leasing and data centers stay strong
The quarter supports a constructive operating thesis: resilient tower leasing, 5G deployment and data-center demand are supporting growth, while raised guidance strengthens the near-term evidence. The main counterweights are lease timing, carrier churn, emerging-market weakness and capital-allocation trade-offs.
Reported Before market openNYSEReal Estate
$75.58B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.60
Consensus $2.60
EPS surprise
0.0%
Reported versus consensus
Reported revenue
$2.63B
Consensus $2.66B
Revenue surprise
-1.2%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-4.2%
Event window
SPY move
-0.3%
Same window
Abnormal move
-4.0%
Stock minus SPY
Volume
2.1×
Versus trailing sessions
Subsequent drift
-3.4%
Up to 20 sessions
AMTSPY benchmark
Ask FN2 about AMT FY2025 Q2
Transcript, numbers and history already loaded
Why did AMT fall 4.2% after beating EPS estimates in FY2025 Q2?What changed in AMT's guidance and outlook in FY2025 Q2?Give me the bull and bear case for AMT after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management reported stronger Q2 execution, raised full-year property revenue, adjusted EBITDA and AFFO guidance, and highlighted AI-driven CoreSite demand. The analysis also points to more explicit attention to lease timing, carrier churn and Latin American credit quality.
Guidance delta
Management raised full-year 2025 guidance for property revenue, adjusted EBITDA and AFFO, while citing favorable FX and strong operating performance.
Key takeaways
- Q2 results beat expectations, with 4.7% organic tenant billings growth and near-record U.S. services earnings.
- CoreSite delivered double-digit revenue growth, supported by AI and hybrid-cloud demand.
- Africa and APAC grew more than 12%, while Latin America remained low-single-digit with higher churn.
- Management plans disciplined capex, deleveraging, dividend growth and selective M&A.
Management priorities
- Invest in CoreSite and additional data-center capacity.
- Expand tower footprint and mid-band coverage for 5G deployment.
- Pursue efficiency initiatives and maintain disciplined capex focused on high-return projects.
- Target leverage below 5x while evaluating opportunistic M&A.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$162.2Current
$185Low
$237.55Average
$332High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Overweight | Overweight | Maintain | Sep 30, 2026 |
| Truist Securities | Buy | Buy | Maintain | Aug 12, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 29, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Jul 29, 2026 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jul 9, 2026 |
| RBC Capital | Outperform | Sector Perform | Upgrade | Jun 26, 2026 |
| Bernstein | Outperform | Market Perform | Upgrade | May 19, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Apr 29, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Apr 29, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Apr 29, 2026 |
| Mizuho | Outperform | Neutral | Upgrade | Apr 15, 2026 |
| UBS | Buy | Buy | Maintain | Feb 25, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Feb 25, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Oct 29, 2025 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Oct 29, 2025 |
| Citigroup | Buy | Buy | Maintain | Oct 16, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Apr 30, 2025 |
| Citizens Capital Markets | Market Outperform | Market Outperform | Maintain | Feb 26, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Dec 12, 2024 |
| Deutsche Bank | Buy | Buy | Maintain | Aug 14, 2024 |
| MoffettNathanson | Outperform | Market Perform | Upgrade | Mar 30, 2023 |
| Jefferies | Buy | Buy | Maintain | Mar 28, 2023 |
| B of A Securities | Buy | Buy | Maintain | Mar 28, 2023 |
| Argus Research | Buy | Buy | Maintain | Mar 28, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Feb 24, 2023 |
| Keybanc | Overweight | Downgrade | Jan 23, 2023 | |
| CFRA | Buy | Hold | Upgrade | Jul 28, 2022 |
| Oppenheimer | Perform | Outperform | Downgrade | Sep 10, 2021 |
| LightShed Partners | Neutral | Buy | Downgrade | Jul 13, 2021 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Jul 31, 2020 |
| Edward Jones | Buy | Hold | Upgrade | Mar 25, 2020 |
| Argus | Buy | Buy | Maintain | Aug 20, 2018 |
| Guggenheim | Neutral | Buy | Downgrade | Jul 16, 2018 |
| Macquarie | Outperform | Outperform | Maintain | Dec 6, 2016 |
| Evercore ISI Group | Hold | Buy | Downgrade | Apr 19, 2016 |
| Moffett Nathanson | Buy | Buy | Maintain | Jan 11, 2016 |
| Pacific Crest | Overweight | Overweight | Maintain | Jul 10, 2015 |
| BTIG Research | Buy | Buy | Maintain | Jun 18, 2015 |
| Nomura | Buy | Buy | Maintain | Jul 31, 2014 |
| Stifel Nicolaus | Buy | Buy | Maintain | Oct 31, 2013 |
| Stifel | Buy | Buy | Maintain | Oct 31, 2013 |
| ISI Group | Buy | Neutral | Upgrade | Aug 13, 2013 |
| PiperJaffray | Neutral | Neutral | Maintain | Feb 28, 2013 |
| Piper Sandler | Neutral | Neutral | Maintain | Feb 28, 2013 |
| Evercore Partners | Overweight | Equal Weight | Upgrade | Jan 10, 2013 |
| Benchmark | Buy | Buy | Maintain | Aug 1, 2012 |
| Wedbush | Outperform | Outperform | Maintain | May 3, 2012 |
| Bank oferica | Buy | Buy | Maintain | Feb 22, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $162.2. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Brendan Lynch | $199 | $167.35 | +22.7% | Sep 30, 2026 |
| Mizuho Securities | Analyst unavailable | $208 | $174.49 | +28.2% | Aug 20, 2026 |
| Barclays | Tim Long | $198 | $174.49 | +22.1% | Aug 20, 2026 |
| Bernstein | Madison Rezaei | $214 | $173.31 | +31.9% | Jul 29, 2026 |
| Goldman Sachs | Analyst unavailable | $210 | $171.5 | +29.5% | Jul 28, 2026 |
| Wolfe Research | Andrew Rosivach | $188 | $165.04 | +15.9% | Jul 8, 2026 |
| Goldman Sachs | Analyst unavailable | $215 | $168.72 | +32.6% | Jun 26, 2026 |
| RBC Capital | Analyst unavailable | $205 | $168.72 | +26.4% | Jun 26, 2026 |
| Bernstein | Analyst unavailable | $207 | $177.28 | +27.6% | May 19, 2026 |
| Truist Financial | Matthew Niknam | $208 | $178.19 | +28.2% | Apr 30, 2026 |
| Scotiabank | Analyst unavailable | $218 | $178.42 | +34.4% | Apr 29, 2026 |
| Raymond James | Analyst unavailable | $240 | $177.3 | +48.0% | Apr 29, 2026 |
| Barclays | Analyst unavailable | $195 | $176.99 | +20.2% | Apr 16, 2026 |
| UBS | Batya Levi | $254 | $180.11 | +56.6% | Jan 20, 2026 |
| Scotiabank | Maher Yaghi | $220 | $179.16 | +35.6% | Jan 14, 2026 |
| Mizuho Securities | Analyst unavailable | $189 | $170.37 | +16.5% | Jan 12, 2026 |
| BMO Capital | Analyst unavailable | $185 | $170.33 | +14.1% | Jan 9, 2026 |
| New Street | Analyst unavailable | $203 | $174.8 | +25.2% | Jan 5, 2026 |
| Morgan Stanley | Benjamin Swinburne | $255 | $176.18 | +57.2% | Dec 4, 2025 |
| Barclays | Brendan Lynch | $200 | $181.27 | +23.3% | Dec 1, 2025 |
| Argus Research | Marie Ferguson | $210 | $179.58 | +29.5% | Oct 30, 2025 |
| UBS | Batya Levi | $260 | $182.48 | +60.3% | Oct 29, 2025 |
| Wells Fargo | Eric Luebchow | $210 | $191.29 | +29.5% | Oct 20, 2025 |
| Barclays | Brendan Lynch | $251 | $191.47 | +54.7% | Oct 17, 2025 |
| RBC Capital | Jonathan Atkin | $220 | $193.32 | +35.6% | Oct 1, 2025 |
| Raymond James | Analyst unavailable | $250 | $208.74 | +54.1% | Jul 30, 2025 |
| RBC Capital | Jonathan Atkin | $250 | $224.03 | +54.1% | May 1, 2025 |
| Morgan Stanley | Benjamin Swinbure | $250 | $217.6 | +54.1% | Mar 31, 2025 |
| Barclays | Analyst unavailable | $223 | $216.23 | +37.5% | Mar 21, 2025 |
| JMP Securities | Greg Miller | $225 | $185.08 | +38.7% | Jan 27, 2025 |
| Scotiabank | Maher Yaghi | $236 | $214.23 | +45.5% | Oct 30, 2024 |
| BMO Capital | Ari Klein | $245 | $212.91 | +51.0% | Oct 29, 2024 |
| Barclays | Brendan Lynch | $255 | $220.78 | +57.2% | Oct 10, 2024 |
| Wells Fargo | Eric Luebchow | $230 | $220.78 | +41.8% | Oct 10, 2024 |
| Citigroup | Michael Rollins | $255 | $237.14 | +57.2% | Sep 13, 2024 |
| BMO Capital | Ari Klein | $260 | $237.14 | +60.3% | Sep 12, 2024 |
| Mizuho Securities | Vikram Malhotra | $221 | $234.91 | +36.3% | Sep 12, 2024 |
| RBC Capital | Jonathan Atkin | $236 | $218.77 | +45.5% | Aug 15, 2024 |
| Scotiabank | Maher Yaghi | $248 | $220.72 | +52.9% | Jul 31, 2024 |
| BMO Capital | Ari Klein | $246 | $223.05 | +51.7% | Jul 30, 2024 |
| Goldman Sachs | James Schneider | $230 | $194.38 | +41.8% | Jul 1, 2024 |
| BMO Capital | Ari Klein | $220 | $171.88 | +35.6% | May 1, 2024 |
| Raymond James | Richard Prentiss | $248 | $176.84 | +52.9% | May 1, 2024 |
| MoffettNathanson | Nick Del Deo | $216 | $190.17 | +33.2% | Apr 8, 2024 |
| Mizuho Securities | Vikram Malhotra | $205 | $190.17 | +26.4% | Apr 8, 2024 |
| Loop Capital Markets | Ari Klein | $230 | $194.74 | +41.8% | Jul 13, 2023 |
| Barclays | Analyst unavailable | $246 | $218.12 | +51.7% | Feb 8, 2023 |
| Truist Financial | Analyst unavailable | $275 | $234.44 | +69.5% | Jan 13, 2023 |
| Deutsche Bank | Analyst unavailable | $254 | $228.12 | +56.6% | Jan 12, 2023 |
| Goldman Sachs | Brett Feldman | $245 | $219.3 | +51.0% | Jan 10, 2023 |
| Raymond James | Raymond James Raymond James | $233 | $220.08 | +43.6% | Nov 27, 2022 |
| Morgan Stanley | Analyst unavailable | $257 | $246.07 | +58.4% | Sep 16, 2022 |
| Barclays | Analyst unavailable | $290 | $268.24 | +78.8% | Aug 26, 2022 |
| RBC Capital | Analyst unavailable | $300 | $268.61 | +85.0% | Aug 4, 2022 |
| Deutsche Bank | Analyst unavailable | $285 | $271.99 | +75.7% | Jul 29, 2022 |
| Deutsche Bank | Matthew Niknam | $270 | $257.34 | +66.5% | Jul 26, 2022 |
| Morgan Stanley | Analyst unavailable | $252 | $257.16 | +55.4% | Jul 20, 2022 |
| Citigroup | Analyst unavailable | $290 | $257.2 | +78.8% | Jul 18, 2022 |
| Jefferies | Analyst unavailable | $293 | $255.02 | +80.6% | Jun 30, 2022 |
| Morgan Stanley | Analyst unavailable | $268 | $263.94 | +65.2% | Jun 7, 2022 |
| RBC Capital | Analyst unavailable | $282 | $266.73 | +73.9% | Jun 6, 2022 |
| Raymond James | Analyst unavailable | $288 | $248.82 | +77.6% | Apr 29, 2022 |
| Morgan Stanley | Simon Flannery | $275 | $263.31 | +69.5% | Apr 11, 2022 |
| Morgan Stanley | Simon Flannery | $274 | $242.6 | +68.9% | Jan 26, 2022 |
| Jefferies | Jonathan Petersen | $332 | $264.41 | +104.7% | Jan 10, 2022 |
| Wolfe Research | Andrew Rosivach CFA | $271 | $263.24 | +67.1% | Oct 12, 2021 |
| Argus Research | Angus Kelleher-Ferguson | $300 | $277.37 | +85.0% | Aug 12, 2021 |
| Truist Financial | Gregory P Miller | $315 | $280.1 | +94.2% | Jul 30, 2021 |
| UBS | Batya Levi | $290 | $264.79 | +78.8% | Jun 7, 2021 |
Track every rating change on AMT the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationAmerican Tower Corporation is one of the largest global real estate investment trusts. It is a leading independent owner, operator and developer of multitenant communications real estate. The Company's primary business is the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a few other industries. The Company refers to this business, inclusive of its data center business discussed below, as its property operations.…
Historical context
All AMT earningsLatest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the AMT recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-04T21:40:44.024813+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-04T21:40:44.021904+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-04. For educational purposes only; not investment advice.