American Tower Corporation (AMT)

American Tower's stock has been influenced by several key events in the past six months. The company reported strong Q3 2025 earnings, beating analyst estimates with an EPS of $2.78 and achieving 7.7% year-over-year revenue growth to $2.72 billion, projecting a 7% AFFO per share growth. The stock experienced a sell-off towards the end of 2025, creating an improved margin of safety and an expanded dividend yield. New Street Research upgraded American Tower's stock to buy in early January 2026, setting a price target of $203. The stock also saw a decline on January 7, 2026, reaching a 52-week low, while BMO Capital downgraded American Tower to Market Perform on January 8, 2026, reducing its price target from $210 to $185. The stock showed a gain of 1.79% on January 12, 2026.

American Tower's business model is built on long-term lease agreements, providing a stable revenue stream, suggesting that demand is not highly seasonal. Demand is primarily driven by the increasing global usage of mobile data, the expansion of 4G networks, and the rollout of 5G technology. The company's data center segment also contributes to this consistent demand, showing sustained growth potential. The fundamental demand for connectivity and the long-term nature of its contracts indicate that overall demand for American Tower's services is not subject to significant seasonality.

American Tower Corp. is a global REIT specializing in wireless and broadcast communications infrastructure, leasing space on its towers and rooftops to various customers. The company's services include managed networks, DAS, Wi-Fi, private networks, data centers through CoreSite, and backup power solutions, along with tower-related services like site acquisition and construction management.

American Tower has a significant global presence, operating in 22 countries across the Americas, Europe, Africa, and Asia-Pacific. As of December 31, 2024, the company managed over 149,000 communications sites worldwide, including 42,222 sites in the U.S. and Canada, 26,642 sites in Asia-Pacific and Africa, 31,786 sites in Europe, and 48,307 sites in Latin America. The company's corporate headquarters are located in Boston, Massachusetts, USA.

American Tower has maintained a positive brand reputation, celebrating its 30-year anniversary at the New York Stock Exchange and partnering with the Boys & Girls Clubs of America to expand technology and digital literacy resources. The company published its 2024 Sustainability Report, partnered with Swift Solar to explore deploying perovskite tandem solar panels, and expanded partnerships with ProFuturo and Nextlink Internet. The divestiture of its ATC India operation for $2.5 billion was aimed at focusing on core markets. American Tower was recognized as a top U.S. tower company and ranked 363rd on the Fortune 500 list.

American Tower's ownership is predominantly institutional, with institutional investors holding approximately 95.79% of the company's stock as of June 2025. Mutual funds account for about 97.75% of that institutional stake. The largest single institutional shareholder as of July 28, 2025, was Vanguard Group Inc., holding 62.81 million shares, representing 13.42% of the total shares. Insider selling has generally outweighed buying over the last 12 months.