American Tower’s stock recorded a 2.29% gain in the most recent trading session, compared with a 1.1% rise in the S&P 500 and a 0.8% increase in the Dow Jones U.S. Real Estate Index. This marks the fifth consecutive day of relative outperformance for the company, pushing its year-to-date total return to approximately 8.5%, versus 5.2% for the benchmark real-estate index.

In its latest quarterly report, American Tower posted consolidated revenue of $2.48 billion, a 10% increase year-over-year, driven by a 7% rise in North American site rental revenue and a 15% surge in international leasing and services. Adjusted EBITDA grew 11% to $1.32 billion, while free cash flow reached $850 million, up from $780 million in the same period last year.

The company added 1,200 new communications sites during the quarter, bringing its global portfolio to more than 223,000 towers and rooftops. Major contributions came from Latin America, where it deployed 450 sites, and India, with 380 new installations. These expansions are expected to drive recurring revenue growth of 6% to 8% in 2026.

American Tower announced a quarterly dividend increase of 4.8%, marking its 10th straight annual raise. The new run-rate dividend corresponds to a yield of 4.35% on the company’s current stock level and reflects a payout ratio of 65% against adjusted funds from operations. Management indicated this policy will remain under review as cash flow and debt metrics evolve.