American Tower Corp (NYSE:AMT) declared a quarterly dividend on Wednesday, May 22nd, RTT News reports. Investors of record on Wednesday, June 19th will be paid a dividend of 0.92 per share by the real estate investment trust on Friday, July 12th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, June 18th. This is an increase from American Tower’s previous quarterly dividend of $0.90.

American Tower has increased its dividend by an average of 33.7% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. American Tower has a payout ratio of 51.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect American Tower to earn $8.45 per share next year, which means the company should continue to be able to cover its $3.68 annual dividend with an expected future payout ratio of 43.6%.

Shares of NYSE AMT opened at $211.23 on Monday. The stock has a market cap of $93.37 billion, a P/E ratio of 26.44, a PEG ratio of 1.72 and a beta of 0.54. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.50 and a current ratio of 0.50. American Tower has a 1-year low of $136.74 and a 1-year high of $214.52.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.04. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.80 billion. American Tower had a return on equity of 22.61% and a net margin of 17.95%. American Tower’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. As a group, equities analysts expect that American Tower will post 7.52 earnings per share for the current year.

AMT has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on American Tower from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Monday, March 11th. Citigroup lifted their price target on American Tower from $176.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Edward Jones cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. KeyCorp lifted their price target on American Tower from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, February 28th. They noted that the move was a valuation call. Finally, Oppenheimer cut American Tower from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 28th. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $183.82.

In related news, Director David E. Sharbutt sold 2,035 shares of American Tower stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $192.15, for a total transaction of $391,025.25. Following the sale, the director now directly owns 1,897 shares in the company, valued at $364,508.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James D. Taiclet, Jr. sold 57,439 shares of American Tower stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $194.31, for a total value of $11,160,972.09. Following the sale, the chairman now owns 255,415 shares in the company, valued at $49,629,688.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 259,065 shares of company stock worth $51,423,854. Corporate insiders own 0.75% of the company’s stock.

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About American Tower

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 171,000 communications sites.

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Dividend History for American Tower (NYSE:AMT)

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