American Tower Corp (NYSE:AMT) stock fell 1.59% (As on February 24, 11:31:43 AM UTC-4, Source: Google Finance) after the company reported fourth quarter results that exceeded analyst expectations lifted by stronger leasing activity from telecom carriers and continued momentum in data-center-demand. However, it issued 2026 revenue guidance below Wall Street forecasts. Leasing demand across the global tower portfolio and data center business remains robust, underpinned by sustained growth in mobile data consumption, continued 5G deployment, and increasing hybrid-cloud and AI-related workloads. Revenue from its property segment, which includes the core site-leasing business, rose 7.6% to $2.67 billion in the quarter. The Boston-based owner of cellphone towers and data centers posted a profit of $836.8 million, compared with a profit of $1.23 billion, a year earlier. Adjusted funds from operations, a key metric for real-estate investment trusts, came in at $2.63 a share. Analysts polled by FactSet expected $2.53 a share. Total operating expenses were up 7.4%, to $1.58 billion. Total property revenue growth of approximately 2% comprises roughly 1% from towers organic tenant billings growth, approximately 1% from new tower builds (around 2,000 sites), and approximately 13% data center revenue growth.

AMT in the fourth quarter of FY25 has reported the adjusted earnings per share of $1.75, beating the analysts’ estimates for the adjusted earnings per share of $1.47. The company had reported the adjusted revenue growth of 7.5 percent to $2.74 billion in the fourth quarter of FY25, beating the analysts’ estimates for revenue of $2.69 billion.

The company projected full-year property revenue of $10.44 billion to $10.59 billion, with a midpoint of $10.515 billion falling significantly short of the $10.959 billion consensus estimate. The guidance represents approximately 2% growth at the midpoint compared to 2025 results. The company’s 2026 guidance includes adjusted EBITDA of $7.09 billion to $7.16 billion and AFFO per share of $10.78 to $10.95. American Tower expects to invest $1.8 billion to $1.9 billion in capital expenditures, including construction of 1,700 to 2,300 communications sites globally.

In addition, consolidated organic tenant billings growth is expected to reach approximately 4% year-over-year, excluding the impact of DISH churn, which creates a roughly 1% headwind. By region, U.S. & Canada is projected to deliver approximately 4.5% growth (0.5% including DISH impact), Africa & APAC approximately 8.5%, Europe approximately 4%, and Latin America approximately 3%. The Latin American outlook reflects ongoing multi-year carrier consolidation pressures in the region.