
Real Estate · Telecom Tower REITs
$175.68
-2.99%
Vol: 2.4M
Friday, June 19, 2026
No material news in the last 48 hours.
American Tower announced plans to redeem $250 million of its $600 million 4.125% senior unsecured notes due 2027 on June 18, 2026, modestly trimming near-term debt. Around the same window, Bernstein raised its rating to Outperform, citing the company's extensive tower portfolio, long-term lease profile and continued need for ground-based infrastructure alongside emerging satellite services. The stock closed near $181 on June 17, down ~1.8%, and remains below recent levels despite the upgrade. Analysts expect upcoming earnings of ~$2.69 EPS (+3.5% YoY) on revenue of ~$2.71B (+3.1%). The bull case rests on durable 5G and data-center demand and an undervalued multiple; the bear case is muted ~3% growth, rate sensitivity for the REIT, and lingering share-price weakness despite improving sentiment.
No material news in the last 48 hours.
No material news in the last 48 hours. The Bernstein upgrade, REITweek presentation, and DISH/EchoStar collocation termination were all reported earlier in June.
No material news in the last 48 hours.
No material news in the last 48 hours.
American Tower held its virtual 2026 Annual Meeting of Stockholders on May 20, 2026, one day after presenting at the J.P. Morgan 2026 Global Technology, Media and Communications Conference on May 19. Shares rose 3.9% on May 18 to $177.28 amid renewed optimism after Bernstein upgraded the stock to Outperform on May 8, and the company recently extended credit facilities and priced a €750 million senior notes offering.
On May 19, 2026, American Tower priced a registered public offering of €750 million of 4.000% senior unsecured notes due 2033 at 99.663% of par, generating expected net proceeds of about €742.7 million (~$866.7 million) to refinance 2026 euro notes. Bernstein upgraded AMT to Outperform from Market Perform with an unchanged $207 price target. Earlier on May 7, the company extended maturities on its $6.0 billion multicurrency revolving facility and $1.0 billion term loan to May 2029 and its $4.0 billion revolving credit facility to May 2031, bolstering liquidity. Management presented at MoffettNathanson on May 14 and J.P. Morgan TMT on May 19. Q1 2026 beat on revenue and AFFO, with raised full-year guidance, easing concerns about stalling growth. Shares rose 3.9% to $177.28 on May 18 and a 14-analyst Buy consensus carries a $216.79 average target.
American Tower issued its 2026 proxy and scheduled a virtual annual meeting for May 20, 2026, where shareholders will vote on electing 11 directors, an advisory say-on-pay, ratifying Deloitte & Touche, and approving a new equity incentive plan. The REIT is also presenting at the MoffettNathanson Media, Internet & Communications Conference on May 14 and at the J.P. Morgan Global TMC Conference on May 19. Shares rose 3.9% on May 18 to $177.28, with the Buy consensus rating from 14 analysts and an average $216.79 price target reflecting confidence in AI/data-center driven demand (Q1 data center cash revenue grew 17%). The bear case: Q1 reported property revenue growth of 7.3% slowed to 2.8% ex-FX amid the loss of EchoStar revenue, and higher interest expense and maintenance capex limited AFFO growth to 2.7%, leaving the stock sensitive to rate moves and tenant churn.
On May 7, 2026 American Tower amended and extended maturities on three major credit facilities: a $6.0 billion multicurrency revolving credit facility and a $1.0 billion term loan now mature May 1, 2029, and a $4.0 billion revolving credit facility now matures May 1, 2031, while also increasing acquisition borrowing flexibility and tightening debt incurrence to subsidiaries only. The company is presenting at the MoffettNathanson 2026 Media, Internet & Communications Conference on May 14 and at the J.P. Morgan 2026 Global TMT Conference on May 19. Q1 2026 results beat expectations, with data center revenue up 17% and higher operating margins following the completed India exit; full-year guidance was raised. AMT traded at $174.09 on May 13, down 2.77% from the prior close of $178.82. 14-analyst consensus is Buy with a 2026 price target of $216.79 (~24.5% upside).
American Tower amended its existing $6B multicurrency revolving credit facility, $4B revolving credit facility, and $1B term loan on May 7 to extend maturities to May 1, 2029 (multicurrency and term loan) and May 1, 2031 (the other revolving facility). The company will present at the MoffettNathanson 2026 Media, Internet & Communications Conference on May 14 and the J.P. Morgan TMT Conference on May 19. Q1 AFFO of $2.84 beat $2.50 consensus, and FY26 AFFO guidance was raised to $10.90-$11.07 (vs $10.87 consensus). JPMorgan lowered PT to $240 from $265. Stock trades around $174 with consensus Buy rating and $216.79 average PT.
American Tower will present at the MoffettNathanson 2026 Media, Internet & Communications Conference on May 14, 2026 in New York, with a follow-up at the J.P. Morgan TMC Conference on May 19 in Boston. The annual virtual shareholder meeting is set for May 20. Q1 2026 revenue rose 6.8% YoY to $2.74B, beating the $2.66B consensus, and net income surged about 76% to roughly $879M. Management raised full-year 2026 EPS guidance to $10.90-$11.07. The data center business posted 17% cash revenue growth driven by hybrid/multi-cloud and AI workloads. Shares rose 0.76% to $178.82 on May 12. Analyst consensus is Buy with an average 2026 price target near $216.79.
American Tower confirmed presentations at the MoffettNathanson Media, Internet & Communications Conference (May 14) and JPMorgan Global TMT Conference (May 19), and the stock traded at $174.59 on May 12. The setup follows Q1 2026 revenue of $2.74B (+6.8% YoY, above $2.66B consensus) and net income near $879M, with management raising full-year guidance citing strong international leasing, FX tailwinds, and 17% cash revenue growth in data centers driven by hybrid/multi-cloud and AI use cases. The 2026 proxy is now public ahead of a virtual annual meeting on May 20.
American Tower is presenting at the MoffettNathanson 2026 Media, Internet & Communications Conference on May 14 at 8:15 a.m. ET and the J.P. Morgan 2026 Global TMT Conference on May 19 at 9:25 a.m. ET. The company holds a virtual annual meeting on May 20 to vote on the proxy and a new 2026 Equity Incentive Plan. Q1 2026 revenue came in at $2.74B (up 6.8% YoY) versus $2.66B consensus, with net income up roughly 76% to $879M and AFFO of $2.84 per share. Data center cash revenue grew 17% on AI-related demand. Full-year AFFO guided to $10.90–$11.07 per share. Consensus rating "Moderate Buy" with mean target of $215.82 implying 22.3% upside.
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| AMTAMERICAN | $175.68 | -2.99% | -4.3% | 25.5x | 0.89 | $82.0B |
| CCICROWN | $81.99 | -4.41% | -11.4% | 27.7x | 0.95 | $35.8B |
| SBACSBA | $186.84 | -2.47% | -10.1% | 23.1x | 0.98 | $19.8B |
| WELLWELLTOWER | $206.76 | +0.10% | -5.5% | 61.5x | 0.78 | $145.9B |
| PLDPROLOGIS | $140.80 | -0.10% | -2.9% | 41.9x | 1.33 | $131.7B |
| EQIXEQUINIX | $1,092.30 | +0.35% | +2.5% | 56.8x | 0.97 | $107.7B |
Price below 200d MA — bearish structure.