American Tower stock gets third outlook raise as data centers lead

American Tower reported third-quarter results on Tuesday, October 27, 2026, and raised its full-year outlook for the third time this year. In its third-quarter financial release, the company pointed to continued leasing demand across its tower portfolio and stronger CoreSite data-center performance.

Data centers lift the forecast

Total revenue rose 2.5 percent year over year to 2.785 billion US dollars in the quarter ended September 30. Property revenue increased 4.5 percent to 2.734 billion US dollars, while data-center cash revenue grew 16.3 percent. Organic tenant billings growth was 1.1 percent.

American Tower raised the midpoint of its full-year property-revenue outlook by 55 million US dollars to a range of 10.785 billion to 10.865 billion US dollars. The adjusted EBITDA midpoint was unchanged, while the company lowered the net income and common-stockholder net-income midpoints by 30 million US dollars each because of unrealized losses on equity investments.

The AFFO-per-share outlook rose to a range of 11.04 to 11.16 US dollars. The data-center property-revenue forecast implies midpoint growth of 16.1 percent, compared with 5.0 percent for the broader property portfolio.

Capital allocation adds a new signal

American Tower repurchased approximately 1.8 million shares for 315 million US dollars during the quarter and bought another 0.4 million shares for 68 million US dollars through October 20. On October 23, the board authorized an additional 2.0 billion US dollars for future repurchases.

The company also agreed to sell its Canadian subsidiaries for approximately 288 million Canadian dollars, or about 202 million US dollars, with closing expected in the fourth quarter. The transaction gives management another route to recycle capital toward towers, CoreSite, debt reduction and share repurchases.

American Tower stock traded at 166.45 euros on Lang & Schwarz at 16:04 CET on Monday, November 2, 2026. Investors can follow the real-time quote of American Tower stock as the market weighs the revised forecast and capital-allocation plans.

The S&P 500 provides the broader market context for the US-listed real estate investment trust.

For further company-specific developments, see more news and analyses on American Tower stock.