American Tower Corp /ma/ vs Welltower (AMT vs WELL)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
American Tower Corp /ma/ is the larger company by revenue ($10.6B vs $8.5B). Welltower carries the larger market value ($165.6B vs $78.5B). Welltower has grown revenue faster over the last 4 fiscal years (+164.4% cumulative vs +13.8%). American Tower Corp /ma/ trades at the lower trailing P/E (27.2x vs 113.9x).
About American Tower Corp /ma/
American Tower Corp is a global real estate investment trust that owns, operates, and develops multitenant communications real estate. The company leases space on its communications sites, including towers and distributed antenna system networks, to wireless service providers, broadcasters, government agencies, and other tenants. It also operates data centers and provides tower-related services such as site application, zoning, permitting, and construction management primarily in the United States.
About Welltower
Welltower Inc. is a real estate investment trust that focuses on rental housing for aging seniors in the United States, United Kingdom, and Canada. The company owns and invests in seniors housing, wellness housing, and post-acute care communities, including independent living, assisted living, Alzheimer's/dementia care, and skilled nursing facilities. Welltower serves older adults and mature renters by providing housing and healthcare-related services through various property types and partnerships.
Head to head (AMT FY2025 vs WELL FY2025)
| Metric | AMTFY2025 | WELLFY2025 |
|---|---|---|
| Revenue | $10.64B | $8.45B |
| Revenue growth (YoY) | 5.1% | 40.2% |
| Gross margin | — | 23.2% |
| Operating margin | 45.5% | — |
| Net margin | 24.7% | 11.1% |
| Net income | $2.63B | $936.8M |
| Diluted EPS | $5.40 | $1.39 |
| FCF margin | 35.5% | — |
| ROE | 25.4% | 2.2% |
| Debt / equity | 3.3× | 0.4× |
| Market cap | $78.54B | $165.57B |
| P/E (TTM) | 27.2× | 113.9× |
Fundamentals are from each company’s SEC filings (AMT FY2025, WELL FY2025). P/E and market cap are derived from recent market prices and update daily.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| AMT | $9.36B | $9.65B | $10.01B | $10.13B | $10.64B |
| WELL | $3.20B | $4.17B | $4.75B | $6.03B | $8.45B |
Peer standing
Where each company ranks among the 165 REITs, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | AMT | WELL |
|---|---|---|
| Net margin | 24.7%70th percentile of 156 | 11.1%52nd percentile of 156 |
| Revenue growth (YoY) | +5.1%59th percentile of 161 | +40.2%98th percentile of 161 |
| ROE | 25.4%96th percentile of 141 | 2.2%43rd percentile of 141 |
| P/E (TTM) | 27.2×44th percentile of 108 | 113.9×91st percentile of 108 |
| Debt / equity | 3.27×89th percentile of 99 | 0.45×8th percentile of 99 |
| Short interest (days to cover) | 1.92d21st percentile of 154 | 4.54d71st percentile of 154 |
Short interest
| FINRA settlement data | AMT | WELL |
|---|---|---|
| Shares sold short | 7.7M | 19.4M |
| Change vs prior settlement | -14.5% | +4.4% |
| Days to cover | 1.92 | 4.54 |
| As of settlement | 2026-06-30 | 2026-06-30 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 open-market activity | AMT | WELL |
|---|---|---|
| Buys | 0 | — |
| Sells | 2 ($173,092) | — |
Open-market purchases and sales reported on SEC Form 4 (grants, exercises and tax withholding excluded). For context, about 16% of covered companies saw any open-market insider buy in a 90-day window.
Held by the same investors
6 tracked 13F managers hold both American Tower Corp /ma/ and Welltower as of their latest quarterly filings: AQR Capital Management, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Millennium Management, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.