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

American Tower Corporation (NYSE:AMT) announced a quarterly dividend on Thursday, December 4th. Investors of record on Monday, December 29th will be given a dividend of 1.70 per share by the real estate investment trust on Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, December 29th.

American Tower has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. American Tower has a dividend payout ratio of 95.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Up 1.5%

Shares of NYSE AMT opened at $178.77 on Friday. American Tower has a 1 year low of $172.51 and a 1 year high of $234.33. The firm has a 50-day simple moving average of $184.24 and a two-hundred day simple moving average of $201.86. The company has a market cap of $83.69 billion, a P/E ratio of 28.56, a PEG ratio of 0.70 and a beta of 0.91. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the prior year, the firm posted $2.52 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Research analysts anticipate that American Tower will post 10.14 earnings per share for the current year.

Analysts Set New Price Targets

AMT has been the topic of a number of recent analyst reports. TD Cowen reduced their target price on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Wells Fargo & Company cut their price target on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. UBS Group reaffirmed a “buy” rating and issued a $260.00 price target on shares of American Tower in a research note on Wednesday, October 29th. Raymond James Financial reissued a “strong-buy” rating and issued a $231.00 price objective (down from $250.00) on shares of American Tower in a research report on Wednesday, October 29th. Finally, Jefferies Financial Group dropped their target price on shares of American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $229.11.

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.