American Tower (AMT)
Real Estate · Communications Real Estate / Tower REIT
A global REIT that monetizes long-term, inflation-protected leases on 150,000+ communications towers and data centers across six continents.
What American Tower does
American Tower is a global real estate investment trust (REIT) that owns, operates, and develops multitenant communications real estate, including towers, distributed antenna systems (DAS), and data centers. The company leases space on approximately 149,686 communications sites across the United States, Canada, Africa, Asia-Pacific, Europe, and Latin America to wireless carriers, broadcasters, data providers, and enterprises. Property operations—including tower leasing and data center leasing—accounted for 97% of revenues in 2025, with services operations providing site application, zoning, structural analysis, and construction management support.
Themes: ["REIT / real estate","Communications infrastructure","Wireless carrier capex","5G deployment","Data center / cloud","International diversification","Long-term lease contracts"]
Fundamentals
- Price$165.00 as of 2026-07-09 close
- Market cap$77.1B as of 2026-07-10
- 1-year return-25.2% as of 2026-07-09 close
- P/E26.57 as of 2026-07-10
- Net margin+26.8% as of 2026-07-10
- Gross margin+74.0% as of 2026-07-10
- ROE+78.2% as of 2026-07-10
- Debt / equity10.59 as of 2026-07-10
- Revenue growth (YoY)+6.3% as of 2026-07-10
- Revenue CAGR (3y)+3.3% SEC XBRL
- Beta0.91 as of 2026-07-10
Dividend: yield +4.2%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Revenue concentrated in long-term leases with wireless service providers, exposing the company to carrier consolidation and capex cycles","Significant debt obligations ($31.2B long-term debt as of Q1 2026) and operating lease liabilities ($7.2B), creating refinancing and interest rate risks","Foreign currency exchange volatility and geopolitical risks across Africa, Asia-Pacific, Europe, and Latin America, which collectively represented 70% of communications sites"]
Competitors & peers
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.