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American Tower Corp (AMT)



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Upturn Advisory Summary
09/15/2025: AMT (2-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $249.21
1 Year Target Price $249.21
11 | Strong Buy |
9 | Buy |
3 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 2.38% | Avg. Invested days 39 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 91.35B USD | Price to earnings Ratio 36.46 | 1Y Target Price 249.21 |
Price to earnings Ratio 36.46 | 1Y Target Price 249.21 | ||
Volume (30-day avg) 23 | Beta 0.87 | 52 Weeks Range 169.77 - 234.33 | Updated Date 09/14/2025 |
52 Weeks Range 169.77 - 234.33 | Updated Date 09/14/2025 | ||
Dividends yield (FY) 3.38% | Basic EPS (TTM) 5.35 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 12.6% | Operating Margin (TTM) 45.66% |
Management Effectiveness
Return on Assets (TTM) 4.54% | Return on Equity (TTM) 24.28% |
Valuation
Trailing PE 36.46 | Forward PE 26.81 | Enterprise Value 134483648973 | Price to Sales(TTM) 8.9 |
Enterprise Value 134483648973 | Price to Sales(TTM) 8.9 | ||
Enterprise Value to Revenue 13.11 | Enterprise Value to EBITDA 21.19 | Shares Outstanding 468251008 | Shares Floating 466907344 |
Shares Outstanding 468251008 | Shares Floating 466907344 | ||
Percent Insiders 0.15 | Percent Institutions 95.37 |
Upturn AI SWOT
American Tower Corp

Company Overview
History and Background
American Tower Corp. was founded in 1995 as a unit of American Radio Systems. It was spun off as an independent company in 1998. It has grown through acquisitions and organic expansion to become one of the largest global REITs and independent owners, operators, and developers of multitenant communications real estate.
Core Business Areas
- U.S. & Canada Property: Owns and operates towers in the U.S. and Canada, leasing space to wireless carriers and other communication providers. This segment contributes the largest portion of revenue.
- International Property: Owns and operates towers in various international markets, including Latin America, Africa, Asia, and Europe. Provides similar leasing services as the U.S. & Canada segment. Countries such as India and Brazil are key markets.
- Data Centers: Acquired CoreSite Realty in 2021, adding data center infrastructure to its portfolio. These data centers provide colocation and interconnection services.
- Services: Provides services, including site development, network deployment, and structural analysis, to support wireless carriers' network build-out activities.
Leadership and Structure
Tom Bartlett serves as the Chief Executive Officer. The company has a board of directors overseeing the strategic direction. The organizational structure is divided by geographic regions and business functions, such as operations, finance, and legal.
Top Products and Market Share
Key Offerings
- Tower Leases: American Tower's primary product is leasing space on its towers to wireless carriers. Market share data varies by region, but American Tower is a leading player globally. Competitors include Crown Castle and SBA Communications. This generates a majority of their revenue.
- Data Center Colocation: Provides colocation services in its data centers, allowing businesses to house their servers and network equipment. Competitors include Equinix and Digital Realty.
- Network Development Services: Provides site development, network deployment, and structural analysis to wireless carriers.
Market Dynamics
Industry Overview
The telecommunications infrastructure industry is driven by increasing demand for wireless data due to smartphone adoption, IoT devices, and the rollout of 5G networks. This is fueling demand for tower space and data center services.
Positioning
American Tower is a leading player in the tower industry, benefiting from its scale, geographic diversification, and strategic acquisitions. It has a strong competitive advantage due to its established infrastructure and long-term relationships with major wireless carriers.
Total Addressable Market (TAM)
The global TAM for telecom infrastructure is estimated to be in the hundreds of billions of dollars. American Tower is well-positioned to capture a significant share of this market with its existing infrastructure and expansion plans.
Upturn SWOT Analysis
Strengths
- Large portfolio of towers
- Geographic diversification
- Recurring revenue from long-term leases
- Strong relationships with major wireless carriers
- Data Center Portfolio
Weaknesses
- High debt levels
- Dependence on a few major tenants
- Exposure to regulatory changes
- Capital Intensive Business
- Data Center Integration Risks
Opportunities
- 5G network rollout
- Expansion into new markets
- Increased demand for data center services
- Acquisitions of smaller tower companies
- Growth in emerging markets
Threats
- Competition from other tower companies
- Consolidation among wireless carriers
- Technological advancements that reduce the need for towers
- Interest rate increases
- Economic downturn
Competitors and Market Share
Key Competitors
- CCI
- SBA
Competitive Landscape
American Tower has a competitive advantage due to its large portfolio of towers, geographic diversification, and strong relationships with major wireless carriers. Crown Castle and SBA Communications are its main competitors, but AMT's scale provides an edge.
Major Acquisitions
CoreSite Realty
- Year: 2021
- Acquisition Price (USD millions): 10100
- Strategic Rationale: The acquisition of CoreSite expanded American Tower's business into the data center space, providing colocation and interconnection services and diversifying its revenue streams.
Growth Trajectory and Initiatives
Historical Growth: American Tower has experienced significant growth over the past decade, driven by acquisitions and organic expansion of its tower portfolio.
Future Projections: Analysts project continued growth for American Tower, driven by 5G deployment and increasing demand for wireless data. Growth is expected to be both organic and through acquisitions.
Recent Initiatives: Recent initiatives include investments in data centers, expansion into new international markets, and upgrades to existing infrastructure to support 5G technology.
Summary
American Tower is a leading player in the telecom infrastructure industry, with a large portfolio of towers and a strong track record of growth. It is well-positioned to benefit from the rollout of 5G and increasing demand for wireless data. However, it faces risks related to high debt levels and competition. The expansion into data centers diversifies their portfolio well.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Filings
- Analyst Reports
- Industry Publications
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Investment decisions should be based on individual research and consultation with a qualified financial advisor.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About American Tower Corp
Exchange NYSE | Headquaters Boston, MA, United States | ||
IPO Launch date 1998-06-05 | President, CEO & Director Mr. Steven O. Vondran J.D. | ||
Sector Real Estate | Industry REIT - Specialty | Full time employees 4691 | Website https://www.americantower.com |
Full time employees 4691 | Website https://www.americantower.com |
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of nearly 150,000 communications sites and a highly interconnected footprint of U.S. data center facilities.

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