European Investor
27 Oct 2026, 16:08
American Tower Falls 1% Despite Higher AFFO and Raised 2026 Outlook
American Tower (NYSE: AMT) shares fell about 1% even after the company reported modest third-quarter growth and raised its full-year 2026 outlook for the third time this year.
Total revenue increased 2.5% year over year to $2.79 billion, while property revenue rose 4.5% to $2.73 billion. Data Centers remained a standout, with cash revenue growth of 16.3%, while organic tenant billings growth across the broader portfolio was 1.1%.
Profitability was mixed. Adjusted EBITDA increased just 0.9% to $1.83 billion, while net income declined 14.4% to $781 million. Net income attributable to common stockholders fell 10.3% to $766 million.
AFFO attributable to common stockholders increased 2.4% to $1.34 billion, providing a more constructive picture of underlying cash generation. American Tower also spent $315 million on share repurchases, and its board authorized an additional $2.0 billion for future buybacks after quarter-end.
Management raised full-year guidance, citing steady tower leasing, continued CoreSite outperformance and disciplined capital allocation.
The 1% decline appears to reflect investor focus on relatively modest organic tower growth and weaker reported earnings, which offset the raised outlook, stronger data center performance and higher AFFO.
American Tower (NYSE: AMT) shares fell about 1% even after the company reported modest third-quarter growth and raised its full-year 2026 outlook for the third time this year.
Total revenue increased 2.5% year over year to $2.79 billion, while property revenue rose 4.5% to $2.73 billion. Data Centers remained a standout, with cash revenue growth of 16.3%, while organic tenant billings growth across the broader portfolio was 1.1%.
Profitability was mixed. Adjusted EBITDA increased just 0.9% to $1.83 billion, while net income declined 14.4% to $781 million. Net income attributable to common stockholders fell 10.3% to $766 million.
AFFO attributable to common stockholders increased 2.4% to $1.34 billion, providing a more constructive picture of underlying cash generation. American Tower also spent $315 million on share repurchases, and its board authorized an additional $2.0 billion for future buybacks after quarter-end.
Management raised full-year guidance, citing steady tower leasing, continued CoreSite outperformance and disciplined capital allocation.
The 1% decline appears to reflect investor focus on relatively modest organic tower growth and weaker reported earnings, which offset the raised outlook, stronger data center performance and higher AFFO.
