American Tower Corporation (AMT) Stock Price & Analysis
American Tower Corporation (AMT) is trading at USD 190.71, up 5.03% today, as of October 23, 2026 at 15:43 UTC (US market open; quotes may be delayed), according to Nexqual market data.
AMT last closed at USD 181.57; today's session has ranged USD 187.72–202.13 on volume of 4,060,432 shares. Market capitalization is $88.86B, with a 52-week range of USD 160.06–202.13 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 15:43 UTC.
Also available as compact Markdown for AI agents: nexqual.com/AMT.md
Key facts (AMT)
- Last four reported quarters (through Jun 30, 2026): revenue $10.9B, net income $3.52B (32.1% margin), free cash flow $3.96B (SEC filings).
- Valuation: P/E 25.3x (avg 47.6x at the last 3 fiscal year-ends), EV/EBITDA 17.8x, net debt $35.4B.
- 3 of 80 tracked superinvestors hold AMT (13F, Q2 2026): 0 new, 0 added, 2 reduced, 1 unchanged.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $1.4M; 1 not under a Rule 10b5-1 plan ($894K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $501K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.84 on a 1–5 scale) (25 analysts), mean target USD 215.74 (range 188–260).
- Total return with dividends: 1Y +4.3% vs S&P 500 +14.8%; 5Y -20.4% vs S&P 500 +77.6%.
- Next earnings: 2026-10-27, EPS estimate USD 1.63, revenue estimate $2.76B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (AMT)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $9.36B | $9.65B | $10.0B | $10.1B | $10.6B | $10.9B |
| Operating income | $3.13B | $2.74B | $3.13B | $4.52B | $4.85B | $4.90B |
| Net income | $2.57B | $1.70B | $1.37B | $2.28B | $2.63B | $3.52B |
| EPS (diluted) | $5.66 | $3.82 | $3.18 | $4.82 | $5.40 | — |
| Free cash flow | $3.44B | $1.82B | $2.92B | $3.70B | $3.78B | $3.96B |
| Operating margin | 33.5% | 28.4% | 31.2% | 44.6% | 45.5% | 44.8% |
| Net margin | 27.4% | 17.6% | 13.7% | 22.5% | 24.7% | 32.1% |
| Revenue growth | +16.4% | +3.1% | +3.8% | +1.1% | +5.1% | — |
| Cash + short-term investments | $1.95B | $1.55B | $1.75B | $2.00B | $1.47B | — |
| Total debt | $48.1B | $43.4B | $38.8B | $36.5B | $37.2B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (AMT)
P/E 25.3x · P/S 8.1x · EV/EBITDA 17.8x · EV/Sales 11.4x · P/FCF 22.4x · P/B 23.9x · FCF yield 4.46% · Earnings yield 3.96% · Dividend yield (paid, TTM) 3.66% · Net debt $35.4B · EV $124B
P/E at fiscal year-ends: Dec 2025 31.3x, Dec 2024 37.7x, Dec 2023 73.8x.
Superinvestors (SEC 13F-HR, Q2 2026) (AMT)
3 of 80 tracked investors hold AMT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Chuck Akre | Akre Capital Management | 0.09% | $4.8M | Reduced -42.4% |
| Christopher Davis | Davis Advisors | 0.04% | $10.3M | Reduced -2.1% |
| Mairs & Power | Mairs & Power Funds | <0.01% | $330K | Unchanged |
Insider sales (SEC Form 4, open-market, last ~7 months) (AMT)
2 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-07-29 | Meyer Robert Joseph | SVP & Advisor to the CFO | 5,000 | $894K | 18.9% | No | Too little history (no open-market trades in 2023) |
| 2026-07-28…2026-07-29 | Dowling Ruth T | EVP, Chief Admin Ofr, GC & Sec | 1,791 | $310K | 6.1% | Yes (adopted October 29, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-04-28…2026-04-29 | Dowling Ruth T | EVP, Chief Admin Ofr, GC & Sec | 972 | $173K | 3.2% | Yes (adopted October 29, 2025) | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (AMT)
1 purchase, $501K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-21 | Kalathur Rajesh | Director | 2,829 | $501K | 177 | Too little history (no open-market trades in 2023–2025) |
Analysts (AMT)
Consensus Buy (mean 1.84 on a 1–5 scale), 25 analysts; mean target USD 215.74 (low 188, high 260).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Bernstein | Target lowered | Outperform | $214 → $212 |
| 2026-09-30 | Barclays | Target raised | Overweight | $198 → $199 |
| 2026-08-20 | Barclays | Upgrade | Equal-Weight → Overweight | $195 → $198 |
| 2026-08-12 | Truist Securities | Target lowered | Buy | $208 → $207 |
| 2026-07-29 | TD Cowen | Target raised | Buy | $225 → $227 |
| 2026-07-29 | BMO Capital | Target raised | Market Perform | $190 → $195 |
| 2026-07-09 | Wolfe Research | Upgrade | Peer Perform → Outperform | $188 |
| 2026-06-26 | RBC Capital | Upgrade | Sector Perform → Outperform | $195 → $205 |
Total return (dividends reinvested) (AMT)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | +4.3% | -20.4% |
| S&P 500 (SPY) | +14.8% | +77.6% |
| Per year | +4.3% | -4.5% |
| Volatility (annualized) | 28.4% | 28.0% |
| Max drawdown | -15.7% (Jun 2026→Jul 2026) | -43.1% (Dec 2021→Oct 2023) |
AMT revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Total  Property | $2.69B | 97.8% | +6.3% |
| U.S. & Canada | $136.5M | 5.0% | -20.6% |
| Services | $61.3M | 2.2% | -38.4% |
| Data Centers | $42.2M | 1.5% | +14.7% |
| Latin America | $26.8M | 1.0% | -4.6% |
| Europe | $3.4M | 0.1% | +0.0% |
| Africa & APAC | $2.2M | 0.1% | -35.3% |
| Total revenue | $2.75B | 100% | — |
AMT revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Property | $2.69B | 97.8% | +6.3% |
| Non Lease Property Revenue | $75.2M | 2.7% | +3.7% |
| Services Revenue | $61.3M | 2.2% | -38.4% |
| Services | $61.3M | 2.2% | -38.4% |
| Total revenue | $2.75B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
AMT suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | AT&T (T) | “For example, we are currently engaged in a legal dispute (the "Arbitration") with one of our customers in Mexico, AT&T Comunicaciones Digitales, S. de R.L. de C.V. and related entities (collectively, "AT&T Mexico").” |
| Customer | Vodafone Idea | “Per the terms of the agreement, total aggregate consideration represented up to approximately 210 billion Indian Rupees ("INR") (approximately $2.5 billion), including the value of the VIL OCDs and the VIL Shares (each as defined and further discussed below), payments on certain existing customer receivables, the repayment of existing intercompany debt and the repayment, or assumption, of our existing term loan in…” |
| Customer | Verizon (VZ) | “For the year ended December 31, 2025, our top four customers by total revenue were T-Mobile (18%), AT&T (17%), Verizon Wireless (14%) and Telefónica (10%).” |
| Customer | T-Mobile (TMUS) | “For the year ended December 31, 2025, our top four customers by total revenue were T-Mobile (18%), AT&T (17%), Verizon Wireless (14%) and Telefónica (10%).” |
| Partner | American Tower | “(3) Includes distributions to noncontrolling interest holders, distributions related to the outstanding mandatorily convertible preferred equity in connection with our agreements with certain investment vehicles affiliated with Stonepeak Partners LP and adjustments for the impact of noncontrolling interests on Nareit FFO attributable to American Tower Corporation common stockholders.” |
Quoted from the company's 10-K filed Feb 24, 2026.
AMT customer concentration
In the period ended Dec 31, 2025, 4 direct customers each accounted for at least 10% (18%, 17%, 14%, 10%) of revenue, per the company's 10-K filed Feb 24, 2026. The company does not name them.
AMT company outlook (results filed Jul 28, 2026)
- “Outlook: ($ in millions, except per share amounts.) Full Year 2026 Midpoint Growth Rates vs.”
Quoted word-for-word from the SEC 8-K results press release.
AMT analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.63 | $1.58 | +3.6% | $2.76B | 7 |
| Next quarter (ends Dec 2026) | $1.66 | $1.60 | +3.5% | $2.78B | 7 |
| Current fiscal year (ends Dec 2026) | $6.98 | $6.59 | +5.9% | $11.02B | 7 |
| Next fiscal year (ends Dec 2027) | $6.98 | $6.86 | +1.7% | $11.39B | 9 |
AMT options: expected move
Options price a move of about ±7.4% (±$14.05) by Nov 20, 2026, which includes earnings on Oct 27, 2026. Over the last 8 reports the stock moved ±5.1% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 33.1% | ±7.4% |
| Dec 18, 2026 | 56 | 33.2% | ±10.4% |
| Jan 15, 2027 | 84 | 32.7% | ±12.6% |
| Mar 19, 2027 | 147 | 31.6% | ±15.9% |
| Apr 16, 2027 | 175 | 30.9% | ±17.1% |
| Jun 17, 2027 | 237 | 31.5% | ±19.9% |
| Sep 17, 2027 | 329 | 31.3% | ±23.2% |
| Oct 15, 2027 | 357 | 31.3% | ±24.0% |
30-day implied volatility 33.1% vs 36.5% realized over the last 30 trading days. Put/call ratio (volume) 0.13. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 15:43 UTC)
| Price | USD 190.71 |
|---|---|
| Change | ▲ 5.03% (up) |
| Previous Close | USD 181.57 |
| Open | USD 200.72 |
| Day Range | USD 187.72 – 202.13 |
| 52-Week Range | USD 160.06 – 202.13 |
| Volume | 4,060,432 shares |
| Market Cap | $88.86B |
| Exchange | NYQ |
Technical Analysis (AMT)
Nexqual's technical model rates AMT "STRONG BUY" based on 5 bullish and 0 bearish signals across 128 daily candles, as of October 23, 2026 at 15:43 UTC.
| Overall Signal | STRONG BUY |
|---|---|
| RSI (14) | 66.61 (neutral) |
| vs SMA50 | Above (USD 174.72) |
| MACD | 3.59 (positive) |
Analyst Ratings (AMT)
Wall Street analysts rate AMT "Buy" based on 25 analysts, with a mean price target of USD 215.74 (range USD 188–260), per Nexqual as of October 23, 2026 at 15:43 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 25 |
| Mean Target | USD 215.74 |
| High Target | USD 260 |
| Low Target | USD 188 |
| Buy / Hold / Sell | 22 / 3 / 0 |
Earnings (AMT)
| Next Earnings Date | 2026-10-27 |
|---|---|
| EPS Estimate | USD 1.63 |
| Revenue Estimate | $2.76B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 1.87 vs est 1.55 ▲ beat |
| 2026-03-31 | USD 1.84 vs est 1.57 ▲ beat |
| 2025-12-31 | USD 1.75 vs est 1.47 ▲ beat |
| 2025-09-30 | USD 1.82 vs est 1.65 ▲ beat |
Source: Nexqual, October 23, 2026 at 15:43 UTC.
Financials & Fundamentals (AMT)
| Total Revenue | $10.94B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +4.70% |
| Gross Margin | +73.77% |
| Operating Margin | +45.41% |
| Profit Margin | +31.08% |
| ROE | +33.91% |
| Debt / Equity | 4.39 |
| Current Ratio | 0.35 |
| Total Cash | $1.76B |
| Total Debt | $44.98B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $3.96B (36.2% of revenue) |
Source: Nexqual, October 23, 2026 at 15:43 UTC.
Financial Health Score (AMT)
Nexqual rates American Tower Corporation's overall financial health "Solid" across five dimensions, as of October 23, 2026 at 15:43 UTC.
| Growth | Solid — Revenue +5% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 74%, operating 45% (last 12 months) |
| Balance Sheet | Critical — $1.76B cash and investments vs $37.2B debt (Jun 2026, SEC) |
| Cash Flow | Strong — FCF $3.96B (last 4 quarters to Jun 2026, SEC), 36% margin |
| Efficiency | Strong — ROE 34%, ROA 4.9% |
Ownership (AMT)
| Insider Ownership | +0.08% |
|---|---|
| Institutional Ownership | +96.93% |
| Shares Outstanding | 465.96M |
| Float | 464.45M |
| Short % of Float | +1.82% |
Source: Nexqual, October 23, 2026 at 15:43 UTC.
Leadership (AMT)
American Tower Corporation is led by Steven O. Vondran, President, CEO & Director, per Nexqual as of October 23, 2026 at 15:43 UTC.
| President, CEO & Director | Steven O. Vondran |
|---|---|
| Executive VP, CFO & Treasurer | Rodney M. Smith |
| Executive VP & COO | Eugene M. Noel |
| Senior Vice President of Investor Relations | Spencer Harris Kurn |
| Senior VP and President & CEO of Coresite | Juan A. Font |
Major Backers & Investors (AMT)
Notable institutional backers of American Tower Corporation include Cohen & Steers Inc., FMR, LLC, Morgan Stanley, according to Nexqual as of October 23, 2026 at 15:43 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Cohen & Steers Inc. | 2.96% |
| FMR, LLC | 2.44% |
| Morgan Stanley | 2.06% |
| JPMorgan | 1.9% |
| Lazard Asset Management LLC | 1.8% |
| Fidelity | 1.3% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 12.51% |
| BlackRock | 9.83% |
| State Street | 4.74% |
| Geode Capital | 2.97% |
Source: Nexqual, October 23, 2026 at 15:43 UTC.
From American Tower Corporation's Latest SEC 10-K Filing (filed 2026-02-24)
Key Strengths & Strategy (as disclosed to the SEC)
- We are one of the largest global real estate investment trusts and a leading independent owner, operator and developer of multitenant communications real estate.
- The use of TRSs enables us to continue to engage in certain businesses and jurisdictions while complying with REIT qualification requirements.
- Our construction management capabilities enable us to provide efficient deployment to the carriers while ensuring that the construction work meets our quality control standards.
- We also expect to explore additional ways to use our platform expansion initiatives to enhance the efficiency of our operations over time. •Further improve our operational performance and efficiency.
Partnerships
- We believe that the majority of our towers have capacity for additional tenants and that substantially all of our towers that are currently at or near full structural capacity can be upgraded or augmented to meet future tenant demand with relatively modest capital investment.
- After complying with our REIT distribution requirements, we plan to continue to allocate our available capital among investment alternatives that meet or exceed our return on investment criteria, while taking into account the repayment of debt consistent with our financial policies.
Legal & Regulatory Risks (Item 1A, quoted)
- Risks Related to Laws and Regulations
- Our business, and that of our customers, is subject to laws, regulations and administrative and judicial decisions, and changes thereto, that could restrict our ability to operate our business as we currently do or impact our competitive landscape.
- We could have liability under environmental and occupational safety and health laws.
- We may be adversely affected by regulations related to climate change.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| EQIX | Equinix, Inc. | USD 948.18 | ▼ 0.47% |
| DLR | Digital Realty Trust, Inc. | USD 171.61 | ▲ 0.39% |
| CCI | Crown Castle Inc. | USD 88.05 | ▲ 11.7% |
| IRM | Iron Mountain Incorporated (Del | USD 110.98 | ▲ 0.29% |
| SBAC | SBA Communications Corporation | USD 186.49 | ▲ 4.54% |
| LAMR | Lamar Advertising Company | USD 156.52 | ▼ 0.63% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 15:43 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt