American Tower (AMT) Declares $1.57 Dividend
American Tower said on May 25, 2023 that its board of directors declared a regular quarterly dividend of $1.57 per share ($6.28 annualized). Previously, the company paid $1.56 per share.
Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on July 10, 2023.
At the current share price of $182.56 / share, the stock's dividend yield is 3.44%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.09%, the lowest has been 1.60%, and the highest has been 3.23%. The standard deviation of yields is 0.40 (n=237).
The current dividend yield is 3.39 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 2.09. 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 0.42%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 2954 funds or institutions reporting positions in American Tower. This is a decrease of 12 owner(s) or 0.40% in the last quarter. Average portfolio weight of all funds dedicated to AMT is 0.72%, an increase of 3.76%. Total shares owned by institutions increased in the last three months by 5.11% to 528,376K shares. 
The put/call ratio of AMT is 0.82, indicating a bullish outlook.
Analyst Price Forecast Suggests 34.80% Upside
As of May 11, 2023, the average one-year price target for American Tower is 246.09. The forecasts range from a low of 217.15 to a high of $284.55. The average price target represents an increase of 34.80% from its latest reported closing price of 182.56.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for American Tower is 11,220MM, an increase of 3.72%. The projected annual non-GAAP EPS is 4.72.
What are Other Shareholders Doing?
Ofi Invest Asset Management holds 37,181K shares representing 7.98% ownership of the company.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 20,763K shares representing 4.46% ownership of the company. In it's prior filing, the firm reported owning 20,689K shares, representing an increase of 0.36%. The firm decreased its portfolio allocation in AMT by 0.89% 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 13,452K shares representing 2.89% ownership of the company. In it's prior filing, the firm reported owning 13,239K shares, representing an increase of 1.59%. The firm decreased its portfolio allocation in AMT by 86.33% 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.
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.
Key filings for this company:
This story originally appeared on Fintel.