American Tower Falls as Softer Revenue Outlook and Rate Pressure Weigh on Shares

American Tower Corporation (AMT) is down 5.7% today. Here is some analysis on what might have caused this price movement. ([marketbeat.com](https://www.marketbeat.com/earnings/reports/2026-7-28-american-tower-co-reit-stock/))

Analysis: The most likely driver is a combination of post-earnings pressure and macro rate sensitivity. American Tower delivered a solid second quarter and lifted several 2026 outlook metrics, but its full-year revenue range still came in below consensus, while DISH-related churn and higher interest costs remain visible overhangs; rising Treasury yields can also hit REIT valuations on days like this. ([investing.com](https://www.investing.com/news/earnings/american-tower-beats-q2-estimates-guides-revenue-below-views-93CH-4816291))

Details:

Second-quarter revenue rose to about $2.75 billion and adjusted EPS beat expectations, so the selloff does not appear to be driven by a straightforward earnings miss. ([investing.com](https://www.investing.com/news/earnings/american-tower-beats-q2-estimates-guides-revenue-below-views-93CH-4816291))

The company’s 2026 revenue guidance of roughly $10.695 billion to $10.845 billion trailed the consensus figure cited around the release, which can pressure shares even when profit metrics are better. ([investing.com](https://www.investing.com/news/earnings/american-tower-beats-q2-estimates-guides-revenue-below-views-93CH-4816291))

Management’s materials show 2026 AFFO per share still faces a headwind from DISH-related churn, along with pressure from higher interest costs and cash taxes. ([files.quartr.com](https://files.quartr.com/conference-calls/126c11ee5e954a970f6ccba2067a69c0-2026-07-28-13-09-12.pdf?ref=TWFya2V0QmVhdCBNZWRpYSBMTEM%3D))

This could also be because higher long-term Treasury yields tend to weigh on rate-sensitive REITs, and the 10-year yield moved higher after fresh U.S. economic data. ([fidelity.com](https://www.fidelity.com/news/article/us-markets/202607011503RTRSNEWSCOMBINED_L6N43316Y_1?utm_source=openai))

Sources:

American Tower, SEC, Investing.com ([files.quartr.com](https://files.quartr.com/conference-calls/126c11ee5e954a970f6ccba2067a69c0-2026-07-28-13-09-12.pdf?ref=TWFya2V0QmVhdCBNZWRpYSBMTEM%3D))

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$AMT Insider Trading Activity

$AMT insiders have traded $AMT stock on the open market 18 times in the past 6 months. Of those trades, 1 have been purchases and 17 have been sales.

Here’s a breakdown of recent trading of $AMT stock by insiders over the last 6 months:

EUGENE M NOEL (EVP & Chief Operating Officer) has made 0 purchases and 4 sales selling 41,209 shares for an estimated $7,872,919.
RODNEY M SMITH (EVP, CFO & Treasurer) has made 0 purchases and 4 sales selling 34,341 shares for an estimated $6,596,527.
STEVEN O VONDRAN (President and CEO) has made 0 purchases and 3 sales selling 33,482 shares for an estimated $6,309,966.
ROBERT JOSEPH MEYER (SVP & Advisor to the CFO) sold 5,000 shares for an estimated $894,449
RUTH T DOWLING (EVP, Chief Admin Ofr, GC & Sec) has made 0 purchases and 5 sales selling 3,445 shares for an estimated $611,296.
RAJESH KALATHUR purchased 2,671 shares for an estimated $494,936

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$AMT Hedge Fund Activity

We have seen 771 institutional investors add shares of $AMT stock to their portfolio, and 836 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

J. STERN & CO. LLP removed 37,471,001 shares (-99.4%) from their portfolio in Q1 2026, for an estimated $6,439,766,231
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO removed 9,668,016 shares (-99.5%) from their portfolio in Q1 2026, for an estimated $1,661,545,229
CAPITAL INTERNATIONAL INVESTORS removed 2,727,554 shares (-70.5%) from their portfolio in Q1 2026, for an estimated $468,757,430
FEDERATED HERMES, INC. added 2,164,353 shares (+365.8%) to their portfolio in Q1 2026, for an estimated $371,965,706
FRANKLIN RESOURCES INC removed 1,994,873 shares (-37.4%) from their portfolio in Q1 2026, for an estimated $342,838,873
CANTILLON CAPITAL MANAGEMENT LLC removed 1,612,473 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $263,752,208
CAPITAL WORLD INVESTORS added 1,446,797 shares (+34.3%) to their portfolio in Q1 2026, for an estimated $248,646,532

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$AMT Government Contracts

We have seen $986,416 of award payments to $AMT over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$AMT Congressional Stock Trading

Members of Congress have traded $AMT stock 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $AMT stock by members of Congress over the last 6 months:

REPRESENTATIVE DWIGHT EVANS sold up to $15,000 on 05/11.
REPRESENTATIVE RICHARD MCCORMICK sold up to $15,000 on 04/17.
SENATOR ALAN ARMSTRONG sold up to $15,000 on 03/27.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$AMT Analyst Ratings

Wall Street analysts have issued reports on $AMT in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

JP Morgan issued a "Overweight" rating on 04/29/2026

To track analyst ratings and price targets for $AMT, check out Quiver Quantitative's $AMT forecast page.

$AMT Price Targets

Multiple analysts have issued price targets for $AMT recently. We have seen 12 analysts offer price targets for $AMT in the last 6 months, with a median target of $211.5.

Here are some recent targets:

Andrew Rosivach from Wolfe Research set a target price of $188.0 on 07/09/2026
Jonathan Atkin from RBC Capital set a target price of $205.0 on 06/26/2026
Michael Ng from Goldman Sachs set a target price of $215.0 on 06/26/2026
Madison Rezaei from Bernstein set a target price of $207.0 on 05/19/2026
Matthew Niknam from Truist Securities set a target price of $208.0 on 04/30/2026
Maher Yaghi from Scotiabank set a target price of $218.0 on 04/29/2026
Greg P. Miller from Citizens set a target price of $260.0 on 04/29/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.