Stock fact sheet · data as of
American Tower Corporation (AMT): fair value, margin of safety and Wheel Score
Real Estate · REIT - Specialty · United States · Blend
Is AMT undervalued?
American Tower Corporation (AMT) closed at 181.36 on 16 Oct 2026, 56% above the GLS average fair value of 115.96. 8 of the 9 models that produced a number value the shares below the current price. A gap this wide usually means the market is paying for growth or a story the trailing numbers do not show yet; the models work from filed results, not forecasts, so they are conservative by design.
The 9 models disagree widely: GLS Growth gives 31.58 while 10 Cap gives 210.63. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files AMT under Blend.
Nine valuation models for AMT
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 179.26 | -1% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 36.08 | -80% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 171.92 | -5% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 57.10 | -69% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 31.58 | -83% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 210.63 | +16% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 172.49 | -5% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 104.03 | -43% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 80.55 | -56% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -107.51 | -159% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 210.00 | +16% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
On financial health AMT scores 7/9 (Piotroski): most of the nine tests - positive earnings and cash flow, falling debt, rising margins and turnover - are passed, which is the kind of balance sheet a wheel trader is happy to be assigned. The GLS Moat score is 6.1 out of 10: a ten-year record that is consistent in some of the metrics the score tracks (revenue, earnings, margins, cash flow, returns on capital) and patchy in others.
Returns on capital are moderate - ROIC 5.2%, ROE 69.3%, ROA 4.0% - with debt at 12.31 times equity and a free-cash-flow yield of 4.7%. Debt of 12.31 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is 3.90% at a payout ratio of 96%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Property 98%, Services Revenue 2% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 3/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded Congressional buy was on 11 Sep 2026.
| Piotroski F-score | 7 / 9 | ROIC | 5.2% |
|---|---|---|---|
| GLS Moat | 6.1 / 10 | ROE | 69.3% |
| Debt / equity | 12.31 | ROA | 4.0% |
| Free-cash-flow yield | 4.7% | Payout ratio | 96% |
| Institutions | 10 / 10 | Insiders · Congress | 3 · 5 / 10 |
Wheel Score 60: Fair
AMT scores 60 out of 100 on the Wheel Score (Fair band, 50-64): a usable but unremarkable fit for the wheel strategy. The parts: Value 0/25, Health 16/20, Moat 9/15, Premium 15/20, Stability 20/20. Value (0/25) is where the points are missing.
Implied volatility is 30% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (15 of 20 points). The option chain is deep: 50,729 contracts of open interest across all expiries, which means tight fills at most strikes.
Volume runs at 2.9M shares a day on a market cap of $84.5B, with a beta of 0.89; the Stability part of the Wheel Score gives that 20 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 0 / 25 | -56% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 9 / 15 | moat 6.1/10 | |
| Premium | 15 / 20 | implied volatility 30% | |
| Stability | 20 / 20 | 2.9M shares/day, $84.5B cap, beta 0.89 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
American Tower Corporation reports earnings on 27 Oct 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in REIT - Specialty
The 12 companies below are the closest to American Tower Corporation by market cap within the REIT - Specialty industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| EQIX Equinix, Inc. | 996.26 | 287.49 | -247% | 58Fair | $98.3B |
| DLR Digital Realty Trust, Inc. | 174.47 | 69.61 | -151% | 61Fair | $64.7B |
| CCI Crown Castle Inc. | 80.00 | 64.77 | -24% | 63Fair | $35.0B |
| IRM Iron Mountain Incorporated | 112.68 | 22.28 | -406% | 58Fair | $33.5B |
| SBAC SBA Communications Corporation | 180.71 | 190.61 | +5% | 77Good | $19.2B |
| LAMR Lamar Advertising Company | 148.07 | 94.42 | -57% | 51Fair | $15.0B |
| WY Weyerhaeuser Company | 18.90 | 14.36 | -32% | 55Fair | $13.6B |
| GLPI Gaming and Leisure Properties, Inc. | 39.08 | 48.20 | +19% | 69Good | $11.4B |
| RYN Rayonier Inc. REIT | 18.65 | 22.63 | +18% | 76Good | $5.5B |
| OUT Outfront Media Inc. | 29.95 | 21.40 | -40% | 55Fair | $5.3B |
| EPR EPR Properties | 55.15 | 59.80 | +8% | 64Fair | $4.2B |
| FRMI Fermi Inc. Common Stock | 3.40 | 0.2626 | -1193% | 25Weak | $2.2B |
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Start free See the Sunday ScanQuestions about AMT
Is AMT undervalued right now?
No: at 181.36 the stock trades 56% above the GLS average fair value of 115.96 (data as of 16 Oct 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of AMT and what does it mean?
AMT scores 60 out of 100 (Fair). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for AMT?
115.96 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does American Tower Corporation report earnings next?
The next earnings report is due on 27 Oct 2026 (before the open), 11 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does AMT have listed options, and how liquid are they?
Yes. The nightly snapshot found 732 listed contracts with 50,729 open interest across all expiries and implied volatility of 30% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.