American Tower 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 is the larger company by revenue ($10.6B vs $8.5B). Welltower carries the larger market value ($167.3B vs $83.6B). Welltower has grown revenue faster over the last 4 fiscal years (+164.4% cumulative vs +13.8%). American Tower trades at the lower trailing P/E (24.7x vs 104.1x).
About American Tower
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% |
| Long-term debt / equity | 3.27× | 0.45× |
| Market cap | $83.59B | $167.30B |
| P/E | 24.7× | 104.1× |
Fundamentals are from each company’s SEC filings (AMT FY2025, WELL FY2025). ROE is net income over fiscal-year-end equity; long-term debt / equity counts non-current term debt only. P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
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%71st percentile of 157 | 11.1%53rd percentile of 157 |
| Revenue growth (YoY) | +5.1%60th percentile of 161 | +40.2%98th percentile of 161 |
| ROE | 25.4%96th percentile of 142 | 2.2%43rd percentile of 142 |
| P/E | 24.7×50th percentile of 105 | 104.1×90th percentile of 105 |
| Long-term debt / equity | 3.27×89th percentile of 100 | 0.45×8th percentile of 100 |
| Short interest (days to cover) | 2.43d23rd percentile of 154 | 6.02d77th percentile of 154 |
Short interest
| FINRA settlement data | AMT | WELL |
|---|---|---|
| Shares sold short | 7.3M | 17.7M |
| Change vs prior settlement | +20.8% | +0.8% |
| Days to cover | 2.43 | 6.02 |
| As of settlement | 2026-09-30 | 2026-09-30 |
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 activity (codes P/S) | AMT | WELL |
|---|---|---|
| Buys | 1 ($500,733) | 4 ($2.4M) |
| Sells | 3 ($1.2M) | 0 |
Non-derivative purchases (code P) and sales (code S) reported on SEC Form 4, which may be open-market or private (grants, exercises and tax withholding excluded). For context, about 15% of covered companies saw any reported insider purchase (code P) in a 90-day window.
Held by the same investors
6 tracked 13F managers hold both American Tower 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. 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.