American Tower Stock Gains on Raised Fiscal Year Guidance

By Kelly Cloonan

Shares of American Tower gained after the company raised its outlook for the year, citing robust demand and leasing activity.

The stock rose 4.7% to $174.62 on Tuesday. Shares are down 0.5% year to date.

For the full year, the real estate investment trust now expects adjusted funds from operations per share of $11 to $11.17, up from its prior range of $10.90 to $11.07.

It now guides for full-year property revenue to rise about 4.5%, compared with its prior estimate of roughly 3.4% growth.

The raised guidance came as the company logged higher profit and revenue in its latest quarter.

Chief Executive Steve Vondran said the quarterly results were boosted by strong leasing demand across the company's portfolio and record leasing activity at CoreSite.

The company expects its strength will continue given a solid outlook for digital infrastructure, Vondran said, as mobile data consumption continues to grow, cloud adoption remains strong, AI-driven applications scale and network architectures evolve.

"We believe these powerful secular trends are creating a multi-year demand cycle for the digital infrastructure that underpins the global economy," Vondran said. "As our customers invest to expand capacity, increase network density, and accelerate digital transformation, we believe we are well positioned to capture that growth."

Second-quarter profit rose to $867.5 million, or $1.86 a share, compared with $366.8 million, or 78 cents a share, a year earlier.

Quarterly adjusted funds from operations per share were $2.71, just above analyst estimates of $2.70.

Revenue rose 4.7% to $2.75 billion, compared with analyst estimates of $2.7 billion.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

July 28, 2026 12:42 ET (16:42 GMT)