AMT
American Tower CorporationEvidence as of 2026-09-02Overview · American Tower Corporation
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 226,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
Management team
- Ms. Colleen Richards Powell · Senior VP & Chief Diversity, Equity and Inclusion OfficerFind on LinkedIn
- Mr. Steven O. Vondran J.D. · President, CEO & DirectorFind on LinkedIn
- Mr. Anthony Noble · Senior VP & Chief Strategy OfficerFind on LinkedIn
- Mr. Sanjay Goel · Executive VP & President of Asia-PacificFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
+0.2 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The evidence balance is Mixed (+0.2 of a possible +2; confidence high). For the fiscal quarter reported with a 31 March 2026 end date, Revenues were $ 2,737,500,000 and Operating Income was $ 1,239,200,000, implying an operating margin of about 45.3%. Quarterly revenues sit in a band near $ 2.5 billion–$ 2.9 billion (for example, $ 2,900,300,000 in the quarter ended 30 June 2024 and $ 2,562,800,000 in the quarter ended 31 March 2025), while operating income has been roughly stable in the $ 1.13 billion–$ 1.28 billion range (for example, $ 1,284,300,000 in the quarter ended 30 June 2024 and $ 1,239,200,000 in the period ended 31 March 2026).
The filings show extensive scale — 130,509 communications sites and 30 operating data centers totaling about 3.83 million NRSF as of 30 June 2026 — and management reports nearly $ 50 billion of non‑cancellable customer lease revenue based on existing leases and exchange rates. Market signals are mixed: short‑term momentum measures are negative (three‑ and six‑month at -4.2% and -5.6%, 12‑1 at -13.8%), volatility is high (30‑day annualized +27.0%), dividend yield is notable at 3.97%, and market cap and enterprise value at the reference price are $ 82,006,498,005 and $ 119,299,498,005 respectively.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
For the fiscal quarter ended 31 March 2026 (fiscal Q1 2026, 2026-01-01 to 2026-03-31) Revenues were $2,737,500,000 and Operating Income was $1,239,200,000, implying an operating margin of about 45.3% (1,239,200,000 / 2,737,500,000).
XBRL companyfacts · 0001053507-26-000099Quarterly reported Revenues have been in a band roughly between $2.5 billion and $2.9 billion over the reported quarters — for example, Revenues were $2,900,300,000 in the quarter ended 30 June 2024 (fiscal Q2 2024) and $2,562,800,000 in the quarter ended 31 March 2025 (fiscal Q1 2025).
XBRL companyfacts · 0001053507-24-000105Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
As of June 30, 2026, the company reported owning or operating a total of 130,509 communications sites, plus 17,096 operated towers and 851 owned DAS sites, with the detailed country-level breakdown shown in the 10-Q filed July 28, 2026.
10-Q filed 2026-07-28As of June 30, 2026, the company reported 30 operating data center facilities across 11 U.S. markets totaling approximately 3.83 million net rentable square feet (NRSF) of data center space (excluding ~0.4 million NRSF of office and light industrial), as disclosed in the 10-Q filed July 28, 2026.
10-Q filed 2026-07-28Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
Three- and six-month momentum are negative at -4.2% and -5.6%, and 12-1 momentum is -13.8%, with momentum percentiles at the 25th (6m) and 20th (12-1) percentiles of the 547-stock research universe on 2026-09-01.
Moneyta signal set · 2026-09-01Trailing 12-month and six-month relative strength versus SPY are negative at -29.4% and -17.9%, with the 6-month relative strength ranking in the 25th percentile of the universe on 2026-09-01.
Moneyta signal set · 2026-09-01Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
The 13F reported quarter ended 2026-03-31 shows total reported institutional holdings of "$70.59B" for AMT.
13F holdings · 1743 filers · as of 2026-03-31Top reported institutional holders in the 13F for the period ended 2026-03-31 include BlackRock, Inc. at "$7.76B", VANGUARD CAPITAL MANAGEMENT LLC at "$5.24B", VANGUARD PORTFOLIO MANAGEMENT LLC at "$4.76B", STATE STREET CORP at "$3.70B", and JPMORGAN CHASE & CO at "$2.58B".
13F holdings · 1743 filers · as of 2026-03-31Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Multiple pieces in KalkineMedia on 31 Aug–1 Sep 2026 frame coverage around rising data-center leasing, steady tower/connectivity demand, and a recent corporate update for American Tower Corporation.
News · kalkinemedia.com · 2026-09-01Separate KalkineMedia stories on 31 Aug–1 Sep 2026 emphasize the company-specific theme of connectivity demand remaining firm amid broader market rate-path discussion.
News · kalkinemedia.com · 2026-09-01Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Total insider sales in the 180-day window amounted to "$1.4M" while purchases totaled "$996k", producing a net share change of "-2263" over the 180-day window.
Form 4 · Kalathur Rajesh (Director) · $501k bought · 2026-08-21A single open-market director purchase: Kalathur Rajesh (Director) bought "2829" shares for "$501k" on 2026-08-21.
Form 4 · Kalathur Rajesh (Director) · $501k bought · 2026-08-21Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The company’s price-to-earnings (TTM) ratio is 32.12.
Valuation inputs · SEC XBRL + stored EOD closeNet cash provided by (used in) operating activities (OCF, trailing twelve months) is $5,049,700,000.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
Several firm-level operational and balance-sheet items in the filings support a favorable read: quarterly revenues and operating income are large and have been stable across reported quarters, producing a high operating margin (~45% in Q1 2026) and substantial trailing twelve-month operating income and OCF. The company’s portfolio scale (130,509 communications sites plus data-center capacity ~3.83M NRSF) and management-stated nearly $50 billion of non-cancellable lease revenue point to durable contracted cash-flow exposure. Share-count reduction, $176.2M of Q1 2026 repurchases (vs. none in the comparable prior quarter), recent insider open-market buying, strong institutional ownership and heavy presence in major ETFs, and a relatively high dividend yield together strengthen the constructive operational-and-capital-allocation picture. Against the bear points, churn disclosed appears concentrated to a single large customer (DISH) and is described mechanistically in the filing (i.e., an accounting/treatment change for DISH revenue), while market-driven negatives like recent momentum, elevated volatility, and drawdown reflect price-action metrics rather than the company’s reported operating cash flows and asset base.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.34
40 surviving claims rest on 17 distinct sources; the heaviest analyst carries 18% of them, and 98% of what the desk raised survived the debate.
Forty surviving claims drawn from 17 distinct sources gives moderate source breadth, but the single heaviest analyst contributing 18% of claims and a 98% survival rate through debate suggest the read is durable within the desk — it may also reflect limited internal challenge or analyst overlap. Treat conclusions as informational: the evidence is consistent across filings and computed signals, yet weight them cautiously if independent corroboration is sparse or concentrated.
Peer context · computed, not argued
12-1 momentum ranks 3rd of 5 in REIT—Specialty (as of 2026-09-01).
6-month relative strength ranks 4th of 5 in REIT—Specialty (as of 2026-09-01).
90-day volatility ranks 4th of 5 in REIT—Specialty (as of 2026-09-01).
dividend yield ranks 2nd of 5 in REIT—Specialty (as of 2026-09-01).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
19 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer+0.0 to the score
6 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes+0.5 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.1 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.6 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
17 filings· 1 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state — stated and inferred flags kept apart.
Read by Talbot+0.0 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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The full terminal on AMT Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.