American Tower Stock Price, News & Analysis

American Tower Corporation (NYSE: AMT) is one of the largest global real estate investment trusts (REITs) and a leading independent owner, operator and developer of multitenant communications real estate. The company focuses on digital infrastructure, with a portfolio that includes communications sites and a highly interconnected footprint of U.S. data center facilities.

According to company disclosures, American Tower’s portfolio comprises over 149,000 communications sites worldwide. The business model centers on multitenant communications real estate, where multiple customers can locate their equipment on shared infrastructure. The company also participates in the data center market in the United States through CoreSite, an American Tower company that operates interconnected data center campuses.

Business model and operations

American Tower operates as a REIT, as noted in public descriptions, which means it is structured to own and operate income-producing real estate. Its assets include communications sites and data center facilities that support wireless and digital connectivity. The company has described itself as a leading independent owner, operator and developer of this type of real estate, emphasizing multitenant usage and a global footprint.

CoreSite, which is identified as an American Tower company, is described as an interconnection data center platform. CoreSite’s purpose-built, highly interconnected data center campuses are designed to support critical workloads, including artificial intelligence (AI), high-density applications and hybrid cloud environments. American Tower’s ownership of CoreSite adds data center capabilities to its communications real estate platform in the U.S. market.

Communications sites and digital infrastructure

American Tower’s communications real estate portfolio includes a large number of communications sites. Company materials reference a portfolio of over 149,000 communications sites globally, and nearly 150,000 communications sites in some investor-focused descriptions. These sites are used by tenants such as mobile carriers and other communications customers to support network coverage and capacity. The company has characterized its portfolio as an unmatched set of digital infrastructure assets that benefit from growth in global data demand.

The company has reported that leasing activity across its U.S. and international towers remains robust as carriers invest in network coverage and capacity. This highlights the role of American Tower’s tower portfolio in supporting mobile and other wireless communications networks. The company has also noted that its portfolio benefits from rapid growth in global data demand, which drives usage of its infrastructure.

Data center segment via CoreSite

American Tower’s data center presence is primarily through CoreSite. CoreSite is described as an interconnection data center platform that empowers businesses to support critical business and AI workloads through interconnected data center solutions. CoreSite operates purpose-built, highly interconnected data center campuses in multiple U.S. markets and has been in operation for more than 20 years.

CoreSite’s data centers provide colocation space, power, cooling and connectivity services in multi-tenant facilities. Company communications describe CoreSite’s campuses as cloud-enabled digital ecosystems that allow customers to scale and interoperate their businesses, particularly for workloads such as AI and high-density applications. CoreSite’s footprint includes data centers in markets such as Denver, Chicago, the New York metropolitan area and other U.S. locations, as indicated in recent press releases.

Geographic footprint and segments

American Tower’s operations span the United States and international markets. In its financial outlook, the company refers to a U.S. & Canada segment, an international property segment and a Data Centers segment. The U.S. & Canada segment includes domestic communications real estate, while the international segment covers property revenue from markets outside the U.S. and Canada. The Data Centers segment reflects the operations of CoreSite and related data center activities.

In a recent financial outlook, American Tower provided estimates for U.S. & Canada segment property revenue, international property revenue and Data Centers segment property revenue, indicating that all three areas are meaningful contributors to the overall business. The company has also discussed the impact of foreign currency exchange rates on its international property revenue and related financial metrics, underscoring its exposure to multiple currencies and regions.

Capital structure and financing

American Tower’s common stock is listed on the New York Stock Exchange under the symbol AMT. In addition to common stock, the company has multiple series of senior notes listed on the New York Stock Exchange, with various maturities and interest rates. Recent SEC filings describe registered public offerings of senior unsecured notes, including 4.900% senior unsecured notes due 2030, 5.350% senior unsecured notes due 2035 and 4.700% senior unsecured notes due 2032.

According to these filings, the company has used net proceeds from note offerings primarily to repay existing indebtedness under its senior unsecured revolving credit facilities and for general corporate purposes. The indentures governing these notes include covenants that limit the company’s ability to merge, consolidate or sell assets and restrict the ability of the company and its subsidiaries to incur certain liens, subject to specified exceptions.

Dividends and REIT characteristics

As a REIT, American Tower distributes cash to its common stockholders. Recent 8-K filings report that the company’s Board of Directors has declared cash distributions on shares of its common stock. For example, the Board declared a cash distribution of $1.70 per share payable on October 20, 2025 to stockholders of record as of September 30, 2025, and another cash distribution of $1.70 per share payable on February 2, 2026 to stockholders of record as of December 29, 2025.

These recurring distributions reflect the company’s practice of returning a portion of its cash flows to shareholders, consistent with REIT structures that focus on income-producing real estate.

Recent operating highlights

In its press release for the quarter ended September 30, 2025, American Tower reported growth in total revenue, total property revenue, Adjusted EBITDA and Adjusted Funds From Operations (AFFO) attributable to common stockholders, as well as increases in net income. The company attributed some of the changes in net income to foreign currency effects and the prior-year impact of a loss on the sale of its operations in India, which were classified as discontinued operations.

The company’s Chief Executive Officer commented that American Tower’s portfolio of digital infrastructure continues to benefit from rapid growth in global data demand. The company highlighted robust leasing activity across U.S. and international towers and strong demand in its data center business, including hybrid-cloud demand, favorable pricing and rising AI-related workloads.

Legal and customer relationships

American Tower has disclosed that it was engaged in a legal dispute with a customer in Mexico, AT&T Comunicaciones Digitales, S. de R.L. de C.V. and related entities (collectively, AT&T Mexico), which had been withholding tower rents. In a subsequent update, the company reported that it reached an agreement under which AT&T Mexico would remit payment of the majority of the withheld tower rents and resume monthly payments of the majority of its owed tower rents. Remaining outstanding receivables and future unpaid tower rent amounts are to be deposited into an irrevocable escrow account overseen by an independent trustee, to be released in accordance with a final ruling in the arbitration or by mutual consent.

Corporate governance and leadership developments

American Tower’s Board of Directors has added members with extensive real estate and investment experience. In one announcement, the company reported that its Board elected Gene Reilly as a director, noting his decades of experience in real property investment, management and operations, including senior roles at Prologis, Inc. and other real estate firms.

The company has also disclosed planned retirements of certain senior executives, including the Executive Vice President and President, International, and the Senior Vice President and Chief Accounting Officer, with transition periods described in SEC filings.

CoreSite initiatives under American Tower

CoreSite, as an American Tower company, has reported several initiatives that illustrate the role of data centers within American Tower’s broader digital infrastructure platform. In Chicago, CoreSite announced that its CH2 data center is hosting STN, Inc.’s GPU One platform, a private GPU cloud platform for enterprise AI workloads. The deployment involves liquid-cooled, high-density infrastructure and leverages CoreSite’s interconnection capabilities, including access to major public cloud providers and the Open Cloud Exchange.

In Denver, CoreSite celebrated a construction milestone for its new DE3 data center, described as a 180,000-square-foot facility designed to expand digital infrastructure for the Denver metro area and support high-density, high-performance compute environments for AI, cloud and other workloads. The DE3 facility is planned to be linked via high-count dark fiber to existing CoreSite data centers in Denver.

In the New York metropolitan area, CoreSite launched its NY3 data center in Secaucus, New Jersey, adding more than 138,000 square feet of capacity and forming part of a connected campus with existing facilities. The New York data center campus offers direct cloud connection to a major cloud provider and access to a diverse ecosystem of enterprises and carriers, with interconnection options such as the Open Cloud Exchange and high-count dark fiber.

Investor communications and conferences

American Tower regularly participates in investor conferences and earnings calls. The company has announced presentations at events such as Citi’s Global TMT Conference, Goldman Sachs Communacopia + Technology Conference and RBC Capital Markets’ Global Communications Infrastructure Conference. It also schedules earnings releases and conference calls to discuss quarterly financial results, providing investors with updates on operations, capital allocation and outlook.

Status and listing

Based on recent SEC filings and press releases, American Tower remains an active registrant with securities listed on the New York Stock Exchange. Its common stock trades under the symbol AMT, and multiple series of senior notes are also listed. There is no indication in the provided materials of delisting, deregistration or bankruptcy proceedings.