American Tower stock gets another 2026 outlook boost from CoreSite

American Tower reported its third-quarter 2026 results on October 27 and raised its full-year outlook for the third time this year. The telecommunications real estate investment trust cited continued outperformance at its CoreSite data center business alongside steady leasing demand across its global tower portfolio. The company said in its October 27 release that the revised outlook reflected data center performance and capital allocation decisions.

CoreSite lifts the growth profile

Third-quarter revenue increased 2.5 percent to 2.785 billion US dollars, while property revenue rose 4.5 percent to 2.734 billion US dollars. Organic tenant billings growth was 1.1 percent, and data center cash revenue increased 16.3 percent. The contrast highlights the different growth profiles inside the portfolio: tower leasing remained resilient, while CoreSite supplied a faster-growing contribution.

American Tower said 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 attributed part of the comparison to unrealized losses on equity investments of approximately 71.5 million US dollars, compared with unrealized gains of 10.9 million US dollars in the prior-year quarter. Adjusted funds from operations attributable to common stockholders rose 2.4 percent to 1.335 billion US dollars, or 2.87 US dollars per share.

Guidance points to stronger data centers

American Tower raised the midpoint of its 2026 total 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 company also lifted its AFFO outlook to 11.04 to 11.16 US dollars per share, while maintaining the adjusted EBITDA range of 7.248 billion to 7.303 billion US dollars.

The data center segment is expected to generate property revenue of 1.218 billion to 1.228 billion US dollars in 2026, representing midpoint growth of 16.1 percent. American Tower's management has raised its data center growth view during the year as demand for interconnection and digital infrastructure remained strong. The company linked that demand to wireless connectivity, cloud adoption and artificial intelligence applications.

Capital allocation remains part of the case

American Tower repurchased approximately 1.8 million shares for 315 million US dollars during the quarter. After quarter-end, the board authorized an additional 2.0 billion US dollars for future repurchases, expanding the role of buybacks in the per-share outlook. The company also declared a common-stock distribution of 1.79 US dollars per share for the quarter, up 5.3 percent from a year earlier.

Leverage stood at 4.9 times net debt to annualized adjusted EBITDA at September 30. That level leaves capital allocation, refinancing and execution in the data center business as important factors for investors assessing the balance between income and growth.

American Tower stock traded at 168.33 euros on Lang & Schwarz at 12:35 CET on Friday, November 6, 2026. Investors can follow the real-time quote of American Tower stock for the latest trading indication.

American Tower at a glance

• Company: American Tower Corporation
• ISIN: US03027X1000
• Ticker: AMT
• Home exchange: NYSE
• Lang & Schwarz quote: 168.33 euros at 12:35 CET on November 6, 2026
• Third-quarter revenue: 2.785 billion US dollars, up 2.5 percent year over year
• 2026 property revenue outlook: 10.785 billion to 10.865 billion US dollars
• 2026 AFFO outlook per share: 11.04 to 11.16 US dollars

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