Analyst Consensus ?
ConsensusBuy47 ratings
Bullish3983.0%
Neutral817.0%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
American Tower Corporation · AMT · FY2026 Q1 · Calendar Q2 2026
American Tower Raises Guidance on Data-Center Strength and FX Tailwinds
American Tower opened FY2026 with a decisive beat: EPS of $1.84 versus $1.60 estimated (15% surprise) and revenue of $2.74B versus $2.66B estimated (3.1% surprise). Management raised full-year guidance for revenue, EBITDA, and AFFO by roughly 1% after accounting for FX and straight-line benefits, citing $110M of FX tailwinds and $35M of accelerated non-cash straight-line revenue from Oi in Latin America. The data-center business (CoreSite) is the standout narrative: cash revenue grew roughly 17% year-over-year, with management describing an inflection point in interconnection activity that it expects to become a durable, high-margin revenue stream. The stock reacted positively, with an abnormal move of 2.3% on the event day and 3.7% subsequent drift on 1.45x baseline volume. With shares at $171.50 versus a consensus target of $208.88, the market is pricing in meaningful upside if…
Reported Before market openNYSEReal Estate
$79.90B market cap
90quality score
Company 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.…
Earnings scorecard
Reported versus consensus
Reported EPS
$1.84
Consensus $2
EPS surprise
+15.0%
Reported versus consensus
Reported revenue
$2.74B
Consensus $2.66B
Revenue surprise
+3.1%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$171.5Previous close
$185Low
$238.68Average
$332High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Jul 29, 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 |
|---|---|---|---|---|
| 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 |
| Truist Securities | Buy | Buy | Maintain | Apr 30, 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 |
| Barclays | Equal Weight | Equal Weight | Maintain | Apr 16, 2026 |
| Mizuho | Outperform | Neutral | Upgrade | Apr 15, 2026 |
| UBS | Buy | Buy | Maintain | Feb 25, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Feb 25, 2026 |
| BMO Capital | Market Perform | Outperform | Downgrade | Jan 9, 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 |
| TD Cowen | Buy | Buy | Maintain | Apr 30, 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 previous close $171.5. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Goldman Sachs | Analyst unavailable | $210 | $171.5 | +22.4% | Jul 28, 2026 |
| Wolfe Research | Andrew Rosivach | $188 | $165.04 | +9.6% | Jul 8, 2026 |
| Goldman Sachs | Analyst unavailable | $215 | $168.72 | +25.4% | Jun 26, 2026 |
| RBC Capital | Analyst unavailable | $205 | $168.72 | +19.5% | Jun 26, 2026 |
| Bernstein | Analyst unavailable | $207 | $177.28 | +20.7% | May 19, 2026 |
| Truist Financial | Matthew Niknam | $208 | $178.19 | +21.3% | Apr 30, 2026 |
| Scotiabank | Analyst unavailable | $218 | $178.42 | +27.1% | Apr 29, 2026 |
| Raymond James | Analyst unavailable | $240 | $177.3 | +39.9% | Apr 29, 2026 |
| Barclays | Analyst unavailable | $195 | $176.99 | +13.7% | Apr 16, 2026 |
| UBS | Batya Levi | $254 | $180.11 | +48.1% | Jan 20, 2026 |
| Scotiabank | Maher Yaghi | $220 | $179.16 | +28.3% | Jan 14, 2026 |
| Mizuho Securities | Analyst unavailable | $189 | $170.37 | +10.2% | Jan 12, 2026 |
| BMO Capital | Analyst unavailable | $185 | $170.33 | +7.9% | Jan 9, 2026 |
| New Street | Analyst unavailable | $203 | $174.8 | +18.4% | Jan 5, 2026 |
| Morgan Stanley | Benjamin Swinburne | $255 | $176.18 | +48.7% | Dec 4, 2025 |
| Barclays | Brendan Lynch | $200 | $181.27 | +16.6% | Dec 1, 2025 |
| Argus Research | Marie Ferguson | $210 | $179.58 | +22.4% | Oct 30, 2025 |
| UBS | Batya Levi | $260 | $182.48 | +51.6% | Oct 29, 2025 |
| Wells Fargo | Eric Luebchow | $210 | $191.29 | +22.4% | Oct 20, 2025 |
| Barclays | Brendan Lynch | $251 | $191.47 | +46.4% | Oct 17, 2025 |
| RBC Capital | Jonathan Atkin | $220 | $193.32 | +28.3% | Oct 1, 2025 |
| Raymond James | Analyst unavailable | $250 | $208.74 | +45.8% | Jul 30, 2025 |
| RBC Capital | Jonathan Atkin | $250 | $224.03 | +45.8% | May 1, 2025 |
| Morgan Stanley | Benjamin Swinbure | $250 | $217.6 | +45.8% | Mar 31, 2025 |
| Barclays | Analyst unavailable | $223 | $216.23 | +30.0% | Mar 21, 2025 |
| JMP Securities | Greg Miller | $225 | $185.08 | +31.2% | Jan 27, 2025 |
| Scotiabank | Maher Yaghi | $236 | $214.23 | +37.6% | Oct 30, 2024 |
| BMO Capital | Ari Klein | $245 | $212.91 | +42.9% | Oct 29, 2024 |
| Barclays | Brendan Lynch | $255 | $220.78 | +48.7% | Oct 10, 2024 |
| Wells Fargo | Eric Luebchow | $230 | $220.78 | +34.1% | Oct 10, 2024 |
| Citigroup | Michael Rollins | $255 | $237.14 | +48.7% | Sep 13, 2024 |
| BMO Capital | Ari Klein | $260 | $237.14 | +51.6% | Sep 12, 2024 |
| Mizuho Securities | Vikram Malhotra | $221 | $234.91 | +28.9% | Sep 12, 2024 |
| RBC Capital | Jonathan Atkin | $236 | $218.77 | +37.6% | Aug 15, 2024 |
| Scotiabank | Maher Yaghi | $248 | $220.72 | +44.6% | Jul 31, 2024 |
| BMO Capital | Ari Klein | $246 | $223.05 | +43.4% | Jul 30, 2024 |
| Goldman Sachs | James Schneider | $230 | $194.38 | +34.1% | Jul 1, 2024 |
| BMO Capital | Ari Klein | $220 | $171.88 | +28.3% | May 1, 2024 |
| Raymond James | Richard Prentiss | $248 | $176.84 | +44.6% | May 1, 2024 |
| MoffettNathanson | Nick Del Deo | $216 | $190.17 | +25.9% | Apr 8, 2024 |
| Mizuho Securities | Vikram Malhotra | $205 | $190.17 | +19.5% | Apr 8, 2024 |
| Loop Capital Markets | Ari Klein | $230 | $194.74 | +34.1% | Jul 13, 2023 |
| Barclays | Analyst unavailable | $246 | $218.12 | +43.4% | Feb 8, 2023 |
| Truist Financial | Analyst unavailable | $275 | $234.44 | +60.3% | Jan 13, 2023 |
| Deutsche Bank | Analyst unavailable | $254 | $228.12 | +48.1% | Jan 12, 2023 |
| Goldman Sachs | Brett Feldman | $245 | $219.3 | +42.9% | Jan 10, 2023 |
| Raymond James | Raymond James Raymond James | $233 | $220.08 | +35.9% | Nov 27, 2022 |
| Morgan Stanley | Analyst unavailable | $257 | $246.07 | +49.9% | Sep 16, 2022 |
| Barclays | Analyst unavailable | $290 | $268.24 | +69.1% | Aug 26, 2022 |
| RBC Capital | Analyst unavailable | $300 | $268.61 | +74.9% | Aug 4, 2022 |
| Deutsche Bank | Analyst unavailable | $285 | $271.99 | +66.2% | Jul 29, 2022 |
| Deutsche Bank | Matthew Niknam | $270 | $257.34 | +57.4% | Jul 26, 2022 |
| Morgan Stanley | Analyst unavailable | $252 | $257.16 | +46.9% | Jul 20, 2022 |
| Citigroup | Analyst unavailable | $290 | $257.2 | +69.1% | Jul 18, 2022 |
| Jefferies | Analyst unavailable | $293 | $255.02 | +70.8% | Jun 30, 2022 |
| Morgan Stanley | Analyst unavailable | $268 | $263.94 | +56.3% | Jun 7, 2022 |
| RBC Capital | Analyst unavailable | $282 | $266.73 | +64.4% | Jun 6, 2022 |
| Raymond James | Analyst unavailable | $288 | $248.82 | +67.9% | Apr 29, 2022 |
| Morgan Stanley | Simon Flannery | $275 | $263.31 | +60.3% | Apr 11, 2022 |
| Morgan Stanley | Simon Flannery | $274 | $242.6 | +59.8% | Jan 26, 2022 |
| Jefferies | Jonathan Petersen | $332 | $264.41 | +93.6% | Jan 10, 2022 |
| Wolfe Research | Andrew Rosivach CFA | $271 | $263.24 | +58.0% | Oct 12, 2021 |
| Argus Research | Angus Kelleher-Ferguson | $300 | $277.37 | +74.9% | Aug 12, 2021 |
| Truist Financial | Gregory P Miller | $315 | $280.1 | +83.7% | Jul 30, 2021 |
| UBS | Batya Levi | $290 | $264.79 | +69.1% | Jun 7, 2021 |
Track every rating change on AMT the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
+1.8%
Event window
SPY move
-0.5%
Same window
Abnormal move
+2.3%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
+3.7%
Up to 20 sessions
AMTSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
AMT raised full-year guidance for revenue, EBITDA, and AFFO by roughly 1%, incorporating $110M of FX tailwinds and $35M of accelerated non-cash straight-line revenue from Oi in Latin America. Organic tenant billings grew approximately 4% excluding DISH churn. Data-center cash revenue jumped roughly 17% year-over-year, driven by hybrid-cloud and AI workload demand at CoreSite. The company repurchased $184M of stock in the quarter and earmarked $700M for data-center capacity expansion. A Europe build-to-suit program of 700 new tower sites was announced with expected returns a few hundred basis points above WACC.
Guidance delta
Full-year guidance for revenue, EBITDA, and AFFO raised by approximately 1% after adjusting for FX and straight-line benefits. The revised outlook incorporates $110M of FX tailwinds and $35M of accelerated non-cash straight-line revenue from Oi in Latin America. Capex outlook is increasing, with roughly 85% of discretionary capex directed to developed markets and $700M earmarked for data-center capacity. Management tone was confident and guidance sentiment was raised.
Key takeaways
- EPS of $1.84 beat the $1.60 estimate by 15%; revenue of $2.74B beat the $2.66B estimate by 3.1%.
- Full-year guidance for revenue, EBITDA, and AFFO raised approximately 1% after accounting for FX and straight-line benefits.
- Organic tenant billings grew roughly 4% excluding one-time DISH churn; data-center cash revenue grew roughly 17% year-over-year.
- CoreSite's hybrid-cloud and AI-driven interconnection business is at an inflection point, positioned as a strategic edge platform.
- Europe tower program targets 700 new sites with expected returns a few hundred basis points above WACC.
- $184M in share repurchases executed in the quarter; $700M earmarked for data-center capacity and land acquisitions.
Management priorities
- Accelerate CoreSite expansion and edge-related service offerings.
- Deploy $700M of capital into data-center capacity and land acquisitions.
- Execute the Europe build-to-suit plan for 700 new tower sites.
- Maintain a flexible capital allocation framework including share repurchases and opportunistic M&A.
- Invest in AI and technology platforms to drive operational efficiencies.
Related earnings events
Real EstateSources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-29T10:41:18.985259+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-29T10:41:18.982519+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 . For educational purposes only; not investment advice.