Is American Tower Stock Underperforming the Nasdaq?

Core Insights - American Tower Corporation (AMT) is a leading independent owner, operator, and developer of multitenant communications real estate with a market cap of approximately $84.8 billion, operating across the Americas, Europe, Africa, and the Indo-Pacific [1][2] Performance Overview - AMT stock touched a 52-week high of $234.33 on July 24 but is currently trading 22.7% below that peak, with a decline of 12.6% over the past three months, underperforming the Nasdaq Composite's 7.8% gains during the same period [3] - Year-to-date, AMT stock has dipped 1.2% and has declined 12.9% over the past 52 weeks, while the Nasdaq has surged 20.2% in 2025 and 21.1% over the past year [4] - AMT stock has remained below its 50-day moving average since late July and below its 200-day moving average since late August, indicating a bearish trend [4] Financial Performance - In Q3, American Tower reported a 7.7% year-over-year increase in topline revenue to $2.7 billion, exceeding projections by 2.4%, driven by growth in tenant billings and property revenues [5] - Adjusted funds from operations per share increased 5.3% year-over-year to $2.78, surpassing consensus estimates [5] - Despite better-than-expected results, AMT's stock declined 3.7% following the Q3 results release, likely due to a slight decline in free cash flows and operating cash flows compared to the previous year [5] Peer Comparison - AMT has underperformed compared to its peer Crown Castle Inc. (CCI), which experienced a 23 basis points dip in 2025, although AMT slightly outpaced CCI's 14.8% decline over the past year [6]