American Tower stock lifts 2026 outlook on data-center growth

Published on 11/03/2026 at 13:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

American Tower stock traded at 167.20 euros on Tuesday. Data-center strength helped lift the company’s 2026 property-revenue outlook again.

Data Centers Lift American Tower Outlook

Third-quarter property revenue rose 4.5 percent, while Data Centers cash revenue increased 16.3 percent.
Management lifted the 2026 property-revenue midpoint by 55 million US dollars for the third time this year.
Net income fell as unrealized equity-investment losses weighed on the quarter.

American Tower, US03027X1000, Illustration mit AI erstellt.

American Tower reported stronger third-quarter property performance on October 27, 2026, led by its Data Centers business, and raised its full-year outlook for the third time this year. The company’s official earnings release said total revenue increased 2.5 percent year over year to 2.785 billion US dollars.

American Tower stock traded at 167.20 euros on Lang & Schwarz at 13:15 CET on Tuesday, November 3, 0.09 percent below the Xetra close of Monday, November 2. The comparison uses the previous Xetra session because trading was still underway before the current day’s close.

Data centers remain the growth engine

Total property revenue rose 4.5 percent to 2.734 billion US dollars. Organic Tenant Billings Growth reached 1.1 percent, while cash revenue in the Data Centers segment increased 16.3 percent. Management linked the performance to continued demand for digital infrastructure, including wireless connectivity, cloud adoption and artificial intelligence applications.

The company’s adjusted EBITDA increased 0.9 percent to 1.832 billion US dollars. AFFO attributable to common stockholders rose 2.4 percent to 1.335 billion US dollars, and AFFO per share increased 3.2 percent to 2.87 US dollars. These adjusted measures are important for REIT investors because they focus more closely on recurring property cash generation than net income alone.

Higher revenue outlook, mixed earnings picture

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 company kept the adjusted EBITDA midpoint unchanged at 7.275 billion US dollars, while the AFFO-per-share range moved to 11.04 to 11.16 US dollars.

The outlook revision was not uniform across all measures. The company lowered the midpoints for net income and net income attributable to common stockholders by 30 million US dollars each, primarily because of unrealized losses on equity investments. Third-quarter net income declined 14.4 percent to 781 million US dollars, while net income attributable to common stockholders fell 10.3 percent to 766 million US dollars.

American Tower also reported 315 million US dollars of share repurchases during the third quarter. After the quarter ended, the board authorized an additional 2.0 billion US dollars for future repurchases. As of October 20, approximately 1.1 billion US dollars remained available under the existing program, before the additional authorization.

Portfolio changes shape the next phase

The 2026 plan includes Data Centers property revenue of 1.218 billion to 1.228 billion US dollars, representing midpoint growth of 16.1 percent. Capital expenditure is expected to total 1.765 billion to 1.875 billion US dollars, including 695 million US dollars of development spending in Data Centers and construction of 1,300 to 1,900 communications sites globally.

American Tower is also preparing to sell its Canadian subsidiaries for approximately 288 million Canadian dollars, or about 202 million US dollars. The company expects the transaction to close in the fourth quarter, subject to customary conditions. For investors, the combination of data-center expansion, portfolio simplification and buybacks offers a stronger cash-flow narrative, although tower-sector growth remains affected by customer churn and financing costs.

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