Key Takeaways for American Tower Stock as of July 2026
- Earnings Blowout: Adjusted EPS of $1.87 beat the $1.55 estimate by 20.65% and jumped 139.30% above last year’s $0.78, while revenue of $2.75B topped estimates by 1.94% and rose 4.65% YoY.
- Second Guidance Raise: Management raised full-year property revenue guidance by $110M and lifted data center growth to ~15% YoY, the second raise this year.
- CoreSite Record: This quarter, CoreSite booked more new leasing than in all of 2021.
- AFFO Trough Call: CFO Rod Smith called 2026 an inflection year, saying that after stripping out DISH churn and refinancing headwinds, underlying AFFO per share growth runs near 7% on an FX-neutral basis this year.
Curious how a 139% EPS jump and a second guidance raise change the tower REIT’s growth math? See American Tower’s full earnings model on TIKR for free →
American Tower’s Q2 Earnings Crush Estimates as CoreSite Hits Record Pace
American Tower (AMT) stock closed at $172 on July 28, up 2.85% ahead of its second quarter 2026 print, and the numbers explain the move. Adjusted EPS of $1.87 blew past the $1.55 estimate by 20.65% and more than doubled last year’s $0.78, while revenue of $2.75 billion topped estimates by 1.94% and grew 4.65% year over year.
Margins told an even sharper story. EBIT of $1.27 billion beat estimates by 7.03%, pushing EBIT margin to 46.15% and 219 basis points above the street’s forecast. That expansion flowed straight through to the bottom line: net income of $870.31 million jumped 137.27% from last year’s $366.80 million, a base effect still working through comparisons against 2025’s DISH Network churn.
Management used that strength to raise full-year guidance for the second time in 2026, lifting the property revenue outlook by $110 million at the midpoint and pushing the data center growth forecast to approximately 15% year over year, up from the prior 13%.
CoreSite, American Tower’s data center subsidiary, drove that increase. CEO Steve Vondran said the segment added more new business this quarter “than we did for the entire year of 2021,” its fifth consecutive quarter of double-digit revenue growth, fueled by hyperscale cloud providers and AI-driven demand converging on CoreSite’s interconnected campuses.
Tower fundamentals held their own too. Organic tenant billings growth ran near 2% consolidated, or roughly 4% excluding one-time DISH-related churn, in line with the mid-single-digit path management laid out at the start of the year. The company completed its exit from Asia-Pacific during the quarter, selling its Philippines and Bangladesh operations, a move framed as neutral to AFFO per share but additive to portfolio quality. Leverage ended the quarter at 4.9 times, inside the 3-to-5-times target range.
Not every line moved cleanly higher. Cash flow from operations of $1.49 billion missed estimates by 8.60%, and cash adjusted EBITDA margin slipped 42 basis points against the street, primarily on DISH churn and SG&A timing. CFO Rod Smith addressed the tension directly on the Q2 earnings call, telling analysts: “we do view this as an inflection year where we will be driving higher AFFO per share growth going forward.” Strip out DISH churn and refinancing costs, and underlying AFFO per share growth runs near 7% on an FX-neutral basis, the number Smith says sets up 2027.
American Tower’s second guidance raise this year rode on CoreSite booking more new leasing than all of 2021 combined. Track the current model on TIKR for free →
TIKR Values American Tower Stock at $301 as CoreSite Growth Compounds
TIKR’s mid-case model values American Tower stock at $301 by December 2030, implying 75% total return from the current price of $172, or 14% annualized over 4.4 years.
That prices American Tower stock for double-digit annualized returns that few large-cap REITs can match today.
CoreSite’s leasing pace already outstrips the growth priced into a pure tower REIT, and the segment’s expanding data center outlook gives American Tower two growth engines instead of one. As the DISH churn and refinancing headwinds that capped 2026 AFFO growth fade, the acceleration management flagged for 2027 closes much of the remaining gap to $301.
American Tower stock’s path to $301 comes down to execution investors can track for themselves. Compare the assumptions against years of financials on TIKR for free →
Should You Invest in American Tower Corporation?
The only way to really know is to look at the numbers yourself. TIKR gives you free access to the same institutional-quality financial data that professional analysts use to answer exactly that question.
Pull up American Tower Corporation stock and you’ll see years of historical financials, what Wall Street analysts expect for revenue and earnings in the quarters ahead, how valuation multiples have moved over time, and whether price targets are trending up or down.
You can build a free watchlist to track American Tower Corporation alongside every other stock on your radar. No credit card required. Just the data you need to decide for yourself.
Access Professional Tools to Analyze AMT stock on TIKR for Free →
Looking for New Opportunities?
- See what stocks billionaire investors are buying so you can follow the smart money.
- Analyze stocks in as little as 5 minutes with TIKR’s all-in-one, easy-to-use platform.
- The more rocks you overturn… the more opportunities you’ll uncover. Search 100K+ global stocks, global top investor holdings, and more with TIKR.
Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
