American Tower

American Tower sees 2026 as the trough for organic rental revenue, with a turnaround to better growth expected from 2027. Management cites long-term drivers: network densification, around 800 MHz of new spectrum, 6G and AI-driven network adjustments. The balance sheet is robust (debt in the high-4x range, below 5x), leaving room for share buybacks or acquisitions; CoreSite continues to grow in double digits. Dish was completely removed from the 2026 outlook; declining service revenues and legal disputes with Dish and AT&T Mexico also weigh on the business. » More on de.investing.com

On the Goldman Sachs conference American Tower names four long-term growth drivers: 5G densification, 6G rollout, additional frequencies and AI-driven data traffic. For 2026 the company expects normalized organic rental revenue growth of about 4.5% and aims for a mid-term margin improvement of 200–300 basis points. CoreSite reports record leasing and the fifth quarter of double-digit revenue growth; the data‑center business is highlighted as a major growth and investment focus. Capital allocation remains dividend- and yield-oriented, share buybacks are opportunistic, and international assets are being selectively realigned. » More on de.investing.com

American Tower has placed senior, unsecured bonds totaling USD 1.6 billion: USD 500 million due 2031 (coupon 5.30%), USD 500 million due 2033 (5.56%) and USD 600 million due 2036 (5.75%). The notes were issued close to par; net proceeds from the offering are estimated at around USD 1,579.9 million. The company plans to use USD 600 million to repay bonds maturing in 2026; the remainder will be used to repay borrowings under its revolving credit facility and for general corporate purposes. » More on de.investing.com