With a market cap of $81.1 billion, American Tower Corporation (AMT) is a leading global real estate investment trust (REIT) that owns, operates, and leases wireless and broadcast communications infrastructure, primarily cell towers and related sites. The Boston, Massachusetts-based company’s core business is providing space on its towers to mobile network operators, enabling companies like telecom carriers to deploy and expand their wireless networks without building their own infrastructure. AMT operates in more than 20 countries across North America, Latin America, Europe, Africa, and Asia, giving it highly diversified revenue streams.
Shares of the company have lagged behind the broader market over the past 52 weeks. AMT stock has dropped 4.1% over this time frame, while the broader S&P 500 Index ($SPX) has risen 14%. However, in 2026, both the stock and the index have gained marginally.
Zooming in further, the AMT shares have trailed the State Street Real Estate Select Sector SPDR Fund’s (XLRE) marginal rise over the past 52 weeks and 2.8% rise in 2026.
On Dec. 4, AMT shares rose 1.5% after the company declared a quarterly cash dividend of $1.70 per share on its common stock, signaling continued confidence in its cash-flow stability. The payout also reinforced the stock’s appeal to income-focused investors, reflecting management’s commitment to returning capital to shareholders while maintaining financial discipline and funding future growth.
For FY2025 that ended in December 2025, analysts expect American Tower’s AFFO per share to dip 2.3% year-over-year to $10.30. However, the company’s earnings surprise history is promising. It beat the consensus estimates in the last four quarters.
Among the 22 analysts covering the stock, the consensus rating is a “Strong Buy.” That’s based on 14 “Strong Buy” ratings, one “Moderate Buy,” and seven “Holds.”
This consensus is bearish than a month ago when the stock had an overall “Strong Buy” rating.
On January 20, 2026, UBS analyst Batya Levi reaffirmed a “Buy” rating on American Tower but lowered her price target from $260 to $254, reflecting a modest 2.31% reduction.
The mean price target of $217.85 represents a premium of 23.4% to AMT's current price. The Street-high price target of $260 suggests a nearly 47.3% potential upside.
