American Tower Corporation (NYSE:AMT) to Issue Quarterly Dividend of $1.70

Key Points

• American Tower Corporation has declared a $1.70 quarterly dividend, with payment scheduled for October 20th, benefiting shareholders of record as of September 30th.
• The company has a dividend payout ratio of 95.0%, indicating that its current dividends are covered by earnings, though future sustainability may be challenged.
• Analysts have mixed ratings on American Tower, with the stock having a consensus rating of Moderate Buy and an average target price of $244.73.

American Tower Corporation (NYSE:AMT - Get Free Report) declared a quarterly dividend on Thursday, September 18th, RTT News reports. Investors of record on Tuesday, September 30th will be given a dividend of 1.70 per share by the real estate investment trust on Monday, October 20th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th.

American Tower has a payout ratio of 95.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Research analysts expect American Tower to earn $10.00 per share next year, which means the company should continue to be able to cover its $6.80 annual dividend with an expected future payout ratio of 68.0%.

American Tower Stock Performance

AMT stock traded up $0.13 during trading on Monday, hitting $193.44. The company had a trading volume of 3,411,004 shares, compared to its average volume of 3,094,599. American Tower has a 1-year low of $172.51 and a 1-year high of $238.34. The firm has a 50-day moving average price of $207.62 and a 200-day moving average price of $212.91. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm has a market cap of $90.58 billion, a PE ratio of 70.34, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the company posted $2.79 earnings per share. The company's revenue for the quarter was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, analysts expect that American Tower will post 10.14 earnings per share for the current year.

Insider Activity

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares of the company's stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On American Tower

A number of large investors have recently bought and sold shares of AMT. North Capital Inc. acquired a new stake in American Tower during the first quarter worth about $25,000. Hopwood Financial Services Inc. grew its stake in American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after buying an additional 60 shares during the period. Legacy Investment Solutions LLC purchased a new position in shares of American Tower in the 2nd quarter valued at $31,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower during the 1st quarter worth $31,000. Finally, VSM Wealth Advisory LLC lifted its stake in shares of American Tower by 136.4% during the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.