American Tower Corporation (AMT) is a leading real estate investment trust (REIT) specializing in wireless and broadcast communications infrastructure globally. Headquartered in Boston, Massachusetts, the company operates a vast network of nearly 150,000 communications sites. American Tower’s market capitalization is around $91.9 billion, reflecting its strong stature.
Companies with a market cap of $10 billion or more are typically recognized as “large-cap stocks”, a classification that reflects their financial heft, robust performance, and global market presence. American Tower Corporation comfortably falls into this category, underscoring its scale, stability, and competitive advantage. It reinforces American Tower’s entrenched leadership in the communications infrastructure sector, backed by its trusted brand, expansive global reach, and consistent capacity for innovation, which cements its growth potential and prominence among its peers.
However, the REIT is down 19.4% from its 52-week high of $243.56, achieved last year. Shares of American Tower have dropped 8% over the past three months, lagging behind the broader S&P 500 Index’s ($SPX) gains of around 8% during the same period.
Longer term, AMT stock is up 7% on a year-to-date (YTD) basis, but still lagging behind SPX’s 9.6% gains. Meanwhile, the stock has declined 14.8% over the past 52 weeks, compared to SPX’s 16.6% returns over the same time frame.
Its relative underperformance is further highlighted as AMT has been consistently trading below the 50-day moving average since late July. Also, the stock slipped below the 200-day moving average since late August.
Despite its large-cap stature and expansive global infrastructure footprint, American Tower has stumbled, facing significant headwinds.
In Q2 2025 earnings results, reported July 29, net income plunged 59.3% year-over-year (YoY), overshadowing a modest 3.2% revenue growth. Investor anxiety is deepening as the company battles rising interest rate sensitivity, sluggish Latin American growth, and foreign currency losses, all of which have dampened its organic momentum.
On the other hand, its rival Crown Castle Inc. (CCI) has demonstrated similar performance. CCI stock has slipped 14.4% over the past 52 weeks but gained almost 7% on a YTD basis.
Despite AMT’s underwhelming performance, analysts remain bullish about its prospects. The stock has a consensus rating of “Strong Buy” from the 23 analysts covering the stock, and the mean price target of $246.65 suggests a potential upside of 25.7% from current price levels.
