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AMERICAN TOWER CORP /MA/AMT

Sector
Financial Services
Industry
Real Estate Investment Trusts
Exchange
NYSE

Stock Price $AMT

Latest filings

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Filing record · 2016–202610-K1110-Q328-K268

AMT filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 268 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jun ’17Jun ’17
  2. Material agreement8-K · Dec ’19Dec ’19
  3. Deal closed8-K · Dec ’21Dec ’21
  4. Material agreement8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $10.64B
YoY changeLargest recent move+21.3%in FY16Latest +5.1%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All AMT Financial Metrics61 metrics

Income Statement15

Balance Sheet27

Cash Flow14

Per Share5

02—Overview

AMERICAN TOWER CORP /MA/ Financial Overview 2021–2025

Updated Jul 10, 2026

American Tower Corporation swallowed a massive $1.2 billiona loss to offload its India operations for $2.2 billion in FY2024, permanently eliminating its most volatile geographic headwind. This divestiture anchors the central investment thesis: the company has successfully traded international liability for domestic and digital stability. By shedding the recurring impairment charges caused by Indian telecom defaults, the business is now heavily concentrated on highly predictable, escalator-driven lease revenue and a rapidly expanding footprint in U.S. data centers.

The underlying resilience of this strategy is evident in the top line, with total revenues expanding from $9.36 billion in FY2021 to $10.64 billionb in FY2025. Core property operations now generate 97% of total revenue, fortified by a Data Centers segment that surged 14% in FY2025 alone following the company's transformative $10.4 billion CoreSite acquisition. While customer concentration carries inherent risk—with T-Mobile at 18%, AT&T at 17%, and Verizon at 14% of revenue—the company maintains immense financial flexibility, boasting $11.1 billion in available liquidity. Following this multi-year strategic pivot and steady operational expansion, shares traded at $175.57 at the close of FY2025.

Recent Developments (Q4 2025 and Q1 2026)

American Tower sustained steady momentum in Q1 2026, delivering a 7% year-over-year revenue increase to $2.74 billionc. Adjusted EBITDA climbed 5% to $1.84 billion, while net income surged 76% to $859.5 million on favorable foreign currency movements. The most critical operational shift involved terminating a strategic agreement with DISH Wireless following a payment default, prompting a formal lawsuit. Management preemptively recognized this revenue as churn beginning in January 2026, insulating near-term financial targets. The company also fortified its balance sheet by extending a $6.0 billion credit facility to May 2029 and issuing €750 million in notes due 2033.

Bulls argue the company's international and data center segments—growing between 13% and 25%—validate its premium valuation of 37.0x earnings as of April 28, 2026. Conversely, bears warn that an imposing $37.5 billiond debt burden and escalating tenant legal battles create substantial overhang.

What to watch: progress in the DISH Wireless litigation; capital allocation utilizing the expanded $5.0 billione acquisition borrowing allowance.

03—Filings

Recent SEC Filings

  1. 8-KAMERICAN TOWER CORP /MA/ 8-K Report, Executive Changes (Sep 18, 2026)On September 18, 2026, American Tower Corporation (NYSE: AMT) disclosed two routine corporate actions in an 8-K filing. First, the Board elected Kristen M. Ludgate as an independent director effective immediately (September 17, 2026), placing her on the Compensation and Human Capital Committee. Ms. Ludgate brings senior human capital and governance experience, including her prior role as Chief People Officer at HP Inc. (2021–2025) and over 15 years at 3M Company, where she served as EVP and Chief Human Resources Officer. She will receive standard non-employee director compensation and serve until the 2027 Annual Meeting of Stockholders. Second, the Board declared a quarterly cash distribution of $1.79 per share on common stock, payable October 20, 2026, to stockholders of record as of September 30, 2026. This dividend is the key item for income-focused investors, as it reflects the REIT's ongoing commitment to returning cash to shareholders. The filing does not disclose the dividend's year-over-year change, payout ratio, or AFFO coverage, so those metrics would need to be checked against prior filings and earnings materials. Overall, the filing contains no material financial results, guidance changes, or operational disruptions. The board addition is a governance update that may modestly strengthen oversight of compensation and talent matters, while the distribution declaration maintains the existing income profile for shareholders.
  2. 8-KAMERICAN TOWER CORP /MA/ 8-K Report, Material Agreement (Sep 14, 2026)American Tower Corporation (AMT) has announced the successful completion of a registered public offering of $1.6 billion in aggregate principal amount of senior unsecured notes across three tranches: 5.300% notes due 2031, 5.560% notes due 2033, and 5.750% notes due 2036. The offering generated net proceeds of approximately $1,579.9 million, which are earmarked for significant debt reduction. Specifically, the company intends to use a portion of these proceeds to repay $600.0 million of its 1.450% senior unsecured notes due 2026 and to reduce outstanding balances under its revolving credit facility. The remainder will be allocated for general corporate purposes, indicating a strategic move to optimize the company's capital structure and extend its debt maturity profile. The issuance was completed under an indenture agreement with U.S. Bank Trust Company, National Association, as trustee. The terms of the indenture include covenants that restrict the company's ability to merge, sell assets, or incur significant liens, with certain exceptions tied to Adjusted EBITDA. The notes are callable, with redemption prices varying depending on the timing of the call and whether a make-whole premium applies. Additionally, the indenture includes provisions for a mandatory repurchase at 101% of the principal amount if a Change of Control and Ratings Decline event occurs, providing an additional layer of protection for noteholders.
  3. 8-KAMERICAN TOWER CORP /MA/ 8-K Report, Corporate Update (Sep 9, 2026)American Tower Corporation (NYSE: AMT) priced a registered public offering of $1.6 billion in senior unsecured notes on September 9, 2026, in three tranches: $500.0 million due 2031 at 5.300%, $500.0 million due 2033 at 5.560%, and $600.0 million due 2036 at 5.750%. The notes were priced at 99.497% to 99.776% of face value. Based on the stated coupons and principal amounts, the weighted average coupon is about 5.55%. The filing reports expected net proceeds of $1,579.9 million after underwriting discounts and offering expenses. The company plans to use the proceeds to repay $600.0 million of 1.450% senior notes due 2026, pay down existing borrowings under its $6.0 billion senior unsecured multicurrency revolving credit facility, and fund general corporate purposes. Refinancing a 1.450% note at a roughly 5.5% blended rate increases the company's interest cost on that debt, but the transaction extends maturities and reduces reliance on the revolver. The filing does not disclose leverage metrics or the pro forma debt maturity profile, so investors would need to review the prospectus supplement and subsequent filings for those details.
  4. 8-KAMERICAN TOWER CORP /MA/ 8-K Report, Financial Results (Jul 28, 2026)American Tower (AMT) reported Q2 2026 results that beat on the top line and raised its full-year 2026 outlook for the second time this year. Total revenue rose 4.7% to $2,749 million, total property revenue rose 6.3% to $2,688 million, and Adjusted EBITDA grew 3.2% to $1,808 million (65.8% margin). AFFO attributable to common stockholders grew 3.8% to $1,264 million, or $2.71 per share (up 4.2%). Headline net income surged 133% to $888 million, but this is largely a non-cash swing: foreign currency gains of about $42 million versus losses of $484 million a year earlier. Organic tenant billings grew 1.7%, with Data Centers (CoreSite) outperforming and Latin America tenant billings declining about 2.4%. The full-year outlook midpoints were raised for property revenue (+$110M to a midpoint of about $10.77B, implying 4.5% growth), Adjusted EBITDA (+$45M to about $7.28B), and AFFO per share (+$0.09 to about $11.09). Part of the raise reflects favorable FX (about $0.06 per share of AFFO) and one-time expense benefits. Management attributes the outlook to Data Center outperformance and continued leasing demand tied to wireless, cloud, and AI workloads. Net income guidance was raised by $255M mainly due to unrealized FX gains, which investors should not treat as recurring operating improvement. Balance sheet and capital allocation were active. Net leverage was 4.9x on annualized Q2 Adjusted EBITDA, and liquidity totaled about $9.9 billion. The company refinanced maturities by issuing €750M of 4.000% notes due 2033, repaid €500M and $700M of maturing notes, and partially redeemed the 4.125% notes. It also divested ATC Philippines ($75.6M) and KTBL ($6.9M), and continued paying a regular quarterly distribution of $1.79 per share (up 5.3% year over year). Organic growth was modest given the U.S. & Canada straight-line revenue headwind, so investors should weigh the strength of the data center and international results against the softer domestic and Latin American tower trends.
  5. 8-KAMERICAN TOWER CORP /MA/ 8-K Report, Corporate Update (Jun 4, 2026)American Tower Corporation (AMT) has filed an 8-K report disclosing the termination of its Strategic Collocation Agreement (SCA) with DISH Wireless L.L.C., effective June 2, 2026. This action marks a significant development in the relationship between the two companies, which has been strained given that DISH's revenue was already fully accounted for as churn starting January 1, 2026. The company explicitly states that this termination is not anticipated to affect its financial performance for the fiscal year ending December 31, 2026, providing a degree of reassurance to investors regarding immediate financial impact.
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04—See also

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