American Tower Corp
- Industry
- REITs
- Exchange
- US
- Country
- USA
- IPO date
- Jun 5, 1998
- Employees
- 4,866
- Website
- www.americantower.com
Composite valuation range · conservative $135–$150 / fair $175–$205 / optimistic $225–$250. At $166.74, Between the conservative and fair ranges.
At publication $183.85 (May 23, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
American Tower Corporation is one of the largest global real estate investment trusts. It is a leading independent owner, operator and developer of multitenant communications real estate. The Company's primary business is the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a few other industries. The Company refers to this business, inclusive of its data center business discussed below, as its property operations. Additionally, the Company offers tower-related services in the United States, which the Company refers to as its services operations. These services include site application, zoning and permitting, structural and mount analyses, and construction management services, together with program management offerings that support customer deployment needs from project scoping through construction. The Company's services operations primarily support the Company's site leasing business, including through the addition of new tenants and equipment on its sites. The Company's customers include its tenants, licensees and other payers. American Tower Corporation was incorporated in 1995 in Delaware and is based in Massachusetts, Boston.
History
American Tower Corporation was incorporated in 1995 in Delaware and is based in Boston, Massachusetts. The company completed its IPO on June 5, 1998. Its CoreSite acquisition added a data center platform, with data center revenue reaching $1.053 billion in 2025. A CEO transition was announced in 2023, with long-time internal executive Steven O. Vondran taking over as CEO from 2024. In 2024 the company sold its India operations (ATC TIPL), recording a loss of $1.2455 billion.
Industry position
American Tower is one of the largest global communications-infrastructure REITs and a leading independent owner, operator and developer of multitenant communications real estate, with operations spanning over 20 markets. At the end of 2025 it held about 150,000 communication sites and 30 U.S. data center facilities. Its 2025 total revenue was $10.645 billion (property revenue $10.305 billion, services revenue $339.6 million). Its largest customers in 2025 were T-Mobile (18%), AT&T (17%), Verizon (14%) and Telefónica (10%); peer SBA Communications owned or operated 46,358 sites at the end of Q1 2026.