American Tower said on March 9, 2023 that its board of directors declared a regular quarterly dividend of $1.56 per share ($6.24 annualized). Previously, the company paid $1.56 per share.

Shares must be purchased before the ex-div date of April 13, 2023 to qualify for the dividend. Shareholders of record as of April 14, 2023 will receive the payment on April 28, 2023.

At the current share price of $191.27 / share, the stock's dividend yield is 3.26%. Looking back five years and taking a sample every week, the average dividend yield has been 2.05%, the lowest has been 1.60%, and the highest has been 3.20%. The standard deviation of yields is 0.33 (n=237).

The current dividend yield is 3.74 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 1.65. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.54%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 31.29% Upside

As of March 11, 2023, the average one-year price target for American Tower is $251.11. The forecasts range from a low of $226.24 to a high of $288.75. The average price target represents an increase of 31.29% from its latest reported closing price of $191.27.

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The projected annual revenue for American Tower is $11,220MM, an increase of 4.75%. The projected annual non-GAAP EPS is $4.72.

What is the Fund Sentiment?

There are 2981 funds or institutions reporting positions in American Tower. This is an increase of 11 owner(s) or 0.37% in the last quarter. Average portfolio weight of all funds dedicated to AMT is 0.71%, a decrease of 13.78%. Total shares owned by institutions increased in the last three months by 0.70% to 498,753K shares. The put/call ratio of AMT is 1.05, indicating a bearish outlook.

What are Large Shareholders Doing?

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 20,689K shares representing 4.44% ownership of the company. In it's prior filing, the firm reported owning 20,908K shares, representing a decrease of 1.05%. The firm decreased its portfolio allocation in AMT by 8.83% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 14,155K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 13,892K shares, representing an increase of 1.86%. The firm decreased its portfolio allocation in AMT by 7.15% over the last quarter.

Wellington Management Group Llp holds 13,239K shares representing 2.84% ownership of the company. In it's prior filing, the firm reported owning 11,918K shares, representing an increase of 9.97%. The firm decreased its portfolio allocation in AMT by 99.99% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 10,763K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 10,554K shares, representing an increase of 1.94%. The firm decreased its portfolio allocation in AMT by 7.29% over the last quarter.

Cohen & Steers holds 10,017K shares representing 2.15% ownership of the company. In it's prior filing, the firm reported owning 13,434K shares, representing a decrease of 34.11%. The firm decreased its portfolio allocation in AMT by 27.40% over the last quarter.

American Tower Background Information
(This description is provided by the company.)

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 approximately 186,000 communications sites.