AMT
Another quarter, another steady climb
American Tower says Q2 2026 was a strong one, powered by solid global tower leasing demand and a record-setting quarter for CoreSite. Translation: the cell-tower landlord keeps getting paid, which is exactly what you want from a business built on people needing to stay glued to their phones.
The company also said the quarter translated into mid-single-digit AFFO per share growth, even after normalizing for one-time DISH churn. That matters because AFFO is the REIT world’s favorite version of “show me the money,” and growth there usually gets investors leaning a little closer to the screen.
Why investors care
American Tower’s model works best when wireless carriers keep adding capacity and data traffic keeps climbing. If leasing demand stays healthy, the company can keep turning big metal poles and data-center assets into a pretty dependable cash machine.
A few things to watch:
- global tower leasing demand, because that’s the heartbeat of the business
- CoreSite momentum, since the data-center side is becoming a bigger story
- DISH-related churn, which can be a speed bump but doesn’t sound like the main plot twist here
Big picture: this looks like a reminder that boring infrastructure can still be a very good business — especially when the whole world keeps streaming, scrolling, and pretending they don’t need another app.