American Tower stock gets third 2026 outlook boost from CoreSite

American Tower raised its full-year 2026 outlook for the third time when it reported third-quarter results on October 27, 2026, for the period ended September 30. The company said stronger performance in its Data Centers segment, led by CoreSite, supported the increase.

CoreSite drives the guidance increase

American Tower's total revenue rose 2.5 percent year over year to 2.785 billion US dollars in the third quarter. Property revenue increased 4.5 percent to 2.734 billion US dollars, while cash revenue in Data Centers grew 16.3 percent. Organic Tenant Billings Growth was 1.1 percent.

The company raised the midpoint of its full-year property-revenue outlook by 55 million US dollars. The new range is 10.785 billion to 10.865 billion US dollars. Within that forecast, Data Centers property revenue is expected at 1.218 billion to 1.228 billion US dollars, implying midpoint growth of 16.1 percent.

American Tower kept the midpoint of its adjusted EBITDA outlook unchanged. The range remains 7.248 billion to 7.303 billion US dollars. AFFO attributable to common stockholders per share is now expected at 11.04 to 11.16 US dollars, compared with the previous midpoint of 11.08 US dollars, an increase of 0.02 US dollars.

Reported earnings include one-time effects

Adjusted EBITDA increased 0.9 percent to 1.832 billion US dollars, and AFFO attributable to common stockholders rose 2.4 percent to 1.335 billion US dollars. AFFO per share increased 3.2 percent to 2.87 US dollars.

Net income fell 14.4 percent to 781 million US dollars, while net income attributable to common stockholders declined 10.3 percent to 766 million US dollars. American Tower said the comparison was affected by unrealized losses on equity investments of 71.5 million US dollars in the current quarter, compared with unrealized gains of 10.9 million US dollars in the prior-year period. The company also noted that non-cash straight-line revenue effects influenced reported growth rates.

Capital allocation remains supportive

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, adding to the remaining authorization.

Management linked the stronger outlook to consistent leasing demand across the global tower portfolio, CoreSite's outperformance and disciplined capital allocation. The company expects the Data Centers segment to remain a central contributor to growth, while the revised forecast also includes lower net-income midpoints because of investment-related losses.

American Tower stock traded at 171.48 euros on Lang & Schwarz at 13:12 CET on Thursday, November 12, 2026. The company's earnings release is available from American Tower.

American Tower Corporation

• ISIN: US03027X1000
• Ticker: AMT
• Primary exchange: NYSE
• Lang & Schwarz price: 171.48 euros at 13:12 CET on Thursday, November 12, 2026
• Third-quarter revenue: 2.785 billion US dollars
• 2026 property-revenue outlook: 10.785 billion to 10.865 billion US dollars

The broader US equity market remains the relevant market backdrop for American Tower's NYSE-listed stock; see current S&P 500 market coverage.

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