AMERICAN TOWER CORP /MA/(AMT)Stock Analysis
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Rank #349 of 2,879 stocksTOP 25%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
AMT Stock Analysis & AI Quality Score
AI stock analysis and institutional research for AMERICAN TOWER CORP /MA/ (AMT), a Real Estate sector company. 13F Pro's AI-powered ranking engine scores AMT at 69.8/100 on a 32-signal composite quality model, placing it at rank #349 of 2,879 stocks — the top 25% of the AI-ranked universe. AMT scores in the top quartile across free cash flow (98.0), profitability (97.8). Areas of concern include institutional flow (3.0), which score below median versus the broader universe. Shareholder dilution risk is elevated at 44.7/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), AMERICAN TOWER CORP /MA/ reports quarterly revenue of $2.7B, net income of $878.5M, an operating margin of 45.3%. Top institutional holders of AMT by reported 13-F value include BlackRock,, VANGUARD CAPITAL MANAGEMENT, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. AMT trades on the NYSE exchange and files with the SEC under CIK 1053507. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate AMT daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for AMERICAN TOWER CORP /MA/ directly from SEC EDGAR. AMERICAN TOWER CORP /MA/'s 13F Pro composite quality score has ranged between 8 and 84 since 2021, currently 69.8 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.
What's Driving AMT's Business? Latest 10-Q Breakdown
✓ 31/31 datapoints verifiedAI-extracted from AMERICAN TOWER CORP /MA/'s 10-Q filed 2026-04-28 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Q1 revenue grew 7% YoY to $2.74B, driven by international strength and data centers, despite U.S. churn from DISH and AT&T Mexico disputes totaling $40M in reserves.
Biggest Revenue Drivers
Total revenue: $2.74B+7% YoY
Decline driven by DISH churn ($25.2M), offset partially by colocations and amendments ($34.0M).
Growth from straight-line accounting ($27.9M from tenant settlements) and FX gains ($50.8M), offset by churn in Brazil.
New lease commencements, customer expansions, rent increases and power revenue growth across 30 facilities.
Tenant billings growth ($31.8M) from colocations, new sites and FX gains ($31.8M from Cedi, Naira, Rand.
Decrease in site application, zoning and structural analysis services, partially offset by construction management growth.
Largest Expense Items
Increase primarily from FX exchange rate fluctuations.
Increase in personnel costs, stock-based compensation (+$5.0M), and bad debt provisions, partially offset by decreased professional services.
Increase from higher debt levels and interest rate environment.
Increase in repair, maintenance, utility and pass-through costs, partially offset by FX impacts on international operations.
Margins: Segment gross margin increased 6% to $2.03B, with property gross margin expanding from strong international performance (Europe +23%, Latin America +25%, Data Centers +22%) offsetting U.S. & Canada decline of 4% due to DISH churn and AT&T Mexico reserves.
Watch Items from the Filing
- AT&T Mexico dispute: $300M annual revenue customer withholding rents; $30M reserves recorded in 2025 plus $10M in Q1 2026; arbitration hearing scheduled August 2026.
- DISH default: 4% of U.S. & Canada property revenue; failed payment obligations since January 2026; litigation filed October 2025; $17.5M impairment charge in Q1 2026.
- Churn in Q1 2026 was approximately 5% of tenant billings, primarily driven by DISH; beginning January 1, 2026, 100% of DISH revenue will be reflected in churn.
- Data Centers segment revenue growth of 18% YoY; 30 facilities across 11 U.S. markets with 3.8M NRSF; represents strategic expansion beyond core tower business.
- International revenue benefited from favorable FX: EUR-denominated debt designated as net investment hedge ($5.4B); 34% of revenues and 42% of expenses in foreign currencies.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$2.7B
Net Income
Q1 2026
$878.5M
Free Cash Flow
Q1 2026
$951.1M
Operating Margin
Q1 2026
45.3%
ROIC
Q1 2026
3.6%
D/E Ratio
Q1 2026
12.33
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+3.8% YoYNet Income
Operating Income
+14.1% YoYEPS (Diluted)
-16.8% YoYTotal Assets
-1.7% YoYTotal Debt
-12.6% YoYOp. Cash Flow
+27.8% YoY| Metric | FY 2023 | FY 2022 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Revenue | $10.01B +3.8% | $9.65B +19.9% | $8.04B +6.1% | $7.58B +1.9% | $7.44B +11.6% | $6.66B |
| Net Income | — | — | $1.69B -10.4% | $1.89B +52.7% | $1.24B -0.2% | $1.24B |
| Operating Income | $3.13B +14.1% | $2.74B -5.2% | $2.89B +7.4% | $2.69B +41.1% | $1.91B -4.7% | $2.00B |
| EPS (Diluted) | $3.18 -16.8% | $3.82 +0.8% | $3.79 -10.6% | $4.24 +53.1% | $2.77 +3.7% | $2.67 |
| Total Assets | $66.03B -1.7% | $67.19B +42.3% | $47.23B +10.4% | $42.80B +29.7% | $33.01B -0.6% | $33.21B |
| Total Debt | $41.87B -12.6% | $47.93B +59.4% | $30.08B +11.5% | $26.98B +27.5% | $21.16B +4.7% | $20.21B |
| Operating Cash Flow | $4.72B +27.8% | $3.70B -4.8% | $3.88B +3.4% | $3.75B +0.1% | $3.75B +28.1% | $2.93B |
AI Insight: AMT Financial Trends
Revenue growth stalled at $2,738M in Q1 2026, unchanged from Q4 2025, while total debt jumped $2.8B quarter-over-quarter.
• Revenue grew from $2,563M in Q1 2025 to $2,738M in Q1 2026, a 6.8% year-over-year increase.
• Operating cash flow remained resilient at $1,401M in Q1 2026 versus $1,295M in Q1 2025.
• Total debt increased from $39,627M in Q3 2025 to $43,440M in Q1 2026, rising $3.8B over two quarters.
⚠ Revenue growth momentum flattened with identical $2,738M in Q4 2025 and Q1 2026 after steady quarterly gains.
⚠ Debt-to-equity ratio deteriorated from 10.0x in Q3 2025 to 12.3x in Q1 2026 as leverage increased.
AI Insight: AMT Ratio Trends
Operating margin improved from 36.6% in Q2 2024 to 45.3% in Q1 2026, but ROIC declined from 11.6% peak in Q1 2025.
• Operating margin expanded from 36.6% in Q2 2024 to 45.3% in Q1 2026 despite quarterly volatility.
• ROIC peaked at 11.6% in Q1 2025 but declined to 10.5% in Q1 2026.
• Debt-to-equity ratio increased from 10.03 in Q3 2025 to 12.33 in Q1 2026.
⚠ Operating margin volatility with Q3 2024 spike to 61.7% suggesting potential one-off benefits.
⚠ Leverage trend reversal as D/E jumped from multi-quarter lows to 12.33 in latest quarter.
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Top Institutional Holders of AMT
BlackRock, Inc.
$7.8B44,954,137 shVANGUARD CAPITAL MANAGEMENT LLC
$5.2B30,362,380 shVANGUARD PORTFOLIO MANAGEMENT LLC
$4.8B27,596,159 shSTATE STREET CORP
$3.7B21,434,609 shGEODE CAPITAL MANAGEMENT, LLC
$2.4B13,933,628 shFMR LLC
$2.0B11,317,048 shMORGAN STANLEY
$1.7B9,583,923 shDEUTSCHE BANK AG\
$1.3B7,769,353 shLAZARD ASSET MANAGEMENT LLC
$1.3B7,325,943 shInvesco Ltd.
$1.3B7,275,230 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $7.8B | 44,954,137 |
| VANGUARD CAPITAL MANAGEMENT LLC | $5.2B | 30,362,380 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $4.8B | 27,596,159 |
| STATE STREET CORP | $3.7B | 21,434,609 |
| GEODE CAPITAL MANAGEMENT, LLC | $2.4B | 13,933,628 |
| FMR LLC | $2.0B | 11,317,048 |
| MORGAN STANLEY | $1.7B | 9,583,923 |
| DEUTSCHE BANK AG\ | $1.3B | 7,769,353 |
| LAZARD ASSET MANAGEMENT LLC | $1.3B | 7,325,943 |
| Invesco Ltd. | $1.3B | 7,275,230 |
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Is AMT a good stock to buy?
13F Pro's AI-powered analysis of AMERICAN TOWER CORP /MA/ (AMT) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Real Estate sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for AMT are available on the AMT stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own AMT?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling AMT. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of AMERICAN TOWER CORP /MA/'s investment landscape.