American Tower stock leans on CoreSite after third outlook raise

American Tower raised its full-year 2026 outlook for the third time after stronger performance at its CoreSite data-center platform. The update was presented with the company's third-quarter results for the period ended September 30, released on October 27. The American Tower Q3 2026 earnings call transcript says CoreSite's data-center growth outlook was lifted to 16 percent, while the property-revenue midpoint rose by USD 55 million.

American Tower stock traded at 167.10 euros on Lang & Schwarz at 16:07 CET on Tuesday, November 10, 2026, 1.15 percent below the Xetra close of Monday, November 9. The quote was 1.07 percent below the 168.90 euros recorded in the previous relevant report on November 9, exceeding the one-percent threshold for a fresh market-data angle.

CoreSite leads the revised outlook

Management said CoreSite benefited from broad demand across cloud, network, enterprise and artificial-intelligence customers. The company also described leasing activity as strong and said 2026 is on track to become another record year for CoreSite leasing.

The revised outlook keeps adjusted EBITDA broadly unchanged, while attributable AFFO per share guidance increased by USD 0.02. American Tower said services revenue should be about USD 220 million, reflecting project timing that is weighing on the near-term outlook. Management expects 2026 to remain a trough year for AFFO-per-share growth and sees a return to mid- to high-single-digit growth in 2027.

For investors, the setup remains mixed. Data centers provide a faster-growing earnings stream and support the higher outlook, while slower tower activity, customer churn effects and project delays limit the pace of improvement elsewhere. The company also expects to deploy substantial capital into CoreSite, making leasing execution and returns on new capacity important watch points.

US equity markets remain the broader backdrop for American Tower stock; investors can follow the S&P 500 for the wider risk environment.

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