American Tower Raises Guidance Amid Data Center Growth and Asset Divestiture
During its third-quarter 2026 earnings call, American Tower (AMT) raised its full-year guidance for property revenue and adjusted funds from operations (AFFO) per share. The company reported accelerated growth in its CoreSite data center segment, driven by surging demand for artificial intelligence and cloud infrastructure, leading management to increase the data center revenue growth outlook to 16%. To optimize its capital structure, American Tower reached an agreement to sell its Canadian tower operations for approximately $2 billion, a deal expected to close in Q4 2026. The proceeds are earmarked for share repurchases, debt reduction, and high-yield domestic infrastructure investments. While US organic growth faced temporary headwinds due to DISH Network lease cancellations, management anticipates a recovery and acceleration of growth heading into 2027.
Tickers: $AMT
Topics: AI infrastructure demand asset divestiture data center growth earnings report guidance increase
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