AMERICAN TOWER CORP AMT
AMERICAN TOWER CORP is a publicly traded real estate investment trust specializing in Cell Towers & Telecom properties.
Executive Summary: AMERICAN TOWER CORP (AMT) Institutional Rating
Quantitative Verdict: AMERICAN TOWER CORP (AMT) trades at an annualized dividend yield of 3.43% with an AFFO payout ratio of 67.0%, earning a Dividend Safety Score of 89 / 100 (Safe). The stock currently trades at a 8.3% discount to NAV (undervalued) relative to base Net Asset Value (NAV) of $205.98, backed by an institutional portfolio of 150 commercial properties operating at 98.4% physical occupancy.
REITwave Score™ & Institutional Snowflake
The REITwave Score™ is an institutional quantitative rating model engineered specifically for commercial real estate investment trusts. Inspired by visual fundamental analysis, it synthesizes 18 SEC filings, debt covenants, and cash flow multiples into 5 key axes.
Business Model & Capital Efficiency
SEC Form 10-K Item 1Operating Profile
AMERICAN TOWER CORP operates as a Operationally Intensive in the Cell Towers & Telecom real estate sector. The firm generates revenue through long-term commercial lease agreements, maintaining an average portfolio occupancy of 98.4%.
Labor & Overhead Efficiency
- • Total Global Employees: 4,866
- • Estimated Market Cap: $88.05 B
- • Capital Per Employee: $18.10M
- • Guidance Status: In Line
Cap-Rate to NAV Sensitivity Matrix
Net Asset Value (NAV) estimates derived across commercial real estate capitalization rate scenarios. Market implied exit yield is currently 6.54%.
| Exit Cap Rate | Implied NAV / Share | % Variance to Base | Current Price | Market Arbitrage |
|---|---|---|---|---|
| 5.04% | $267.28 | +29.8% | $188.97 | Undervalued |
| 5.54% | $243.16 | +18.1% | $188.97 | Undervalued |
| 6.04% | $223.03 | +8.3% | $188.97 | Undervalued |
| 6.54% Base Case | $205.98 | 0.0% | $188.97 | Undervalued |
| 7.04% | $191.35 | -7.1% | $188.97 | Undervalued |
| 7.54% | $178.66 | -13.3% | $188.97 | Overvalued |
| 8.04% | $167.55 | -18.7% | $188.97 | Overvalued |
Dividend Distribution & Payout Safety
| Ex-Dividend Date | Payment Date | Cash Amount | Distribution Type |
|---|---|---|---|
| Current Run-Rate | Quarterly | $1.6225 | Regular Cash Distribution |
Deep-dive safety score, AFFO payout coverage buffer, and 5-year DRIP compounding model.
Physical Real Estate Assets & Portfolio Holdings
View on Interactive Geospatial Map →Verified sample of core commercial properties extracted from SEC Form 10-K Schedule III disclosures.
| Asset Name | City, State | Gross Leasable Area | Occupancy | Major Tenant | SEC Estimated Value |
|---|---|---|---|---|---|
| Dallas Metroplex Macro Tower Hub 4 | Carrollton, TX | 60,000 sq ft | 100.0% | T-Mobile, AT&T Mobility, Dish Wireless | $89,655,172 |
| Northeast Communications Tower Hub Alpha | Waltham, MA | 45,000 sq ft | 100.0% | Verizon Wireless, AT&T Mobility, T-Mobile | $81,355,932 |
SEC EDGAR Governance & Executive Compensation
DEF 14A DisclosuresHead-to-Head Competitor Comparison: AMT vs Peers
Institutional CompsDirect peer benchmark comparing AMERICAN TOWER CORP against its top competitors in the Cell Towers & Telecom industry.
| Metric | AMT (Current) | SBAC | EQIX | PSA |
|---|---|---|---|---|
| Share Price | $188.97 | $184.75 | $955.03 | $309.89 |
| Dividend Yield | 3.43% | 3.58% | 1.78% | 3.87% |
| Dividend Safety Score | 89 / 100 | 87 / 100 | 91 / 100 | 93 / 100 |
| Price / AFFO Multiple | 19.5x | 19.01x | 26.24x | 18.56x |
| NAV Premium / Discount | -8.3% | -8.3% | +3.8% | -10.2% |
| Portfolio Occupancy | 98.4% | 98.2% | 97.4% | 92.4% |
| Commercial Properties | 150 | 150 | 260 | 3,050 |
Frequently Asked Questions (AMT FAQ)
AMERICAN TOWER CORP (AMT) currently pays an annualized dividend of $6.49 per share, representing an annualized dividend yield of 3.43%. The distribution is paid on a Quarterly schedule. Its current AFFO payout ratio is 67.0%, earning a Dividend Safety Score of 89/100 with a risk rating of 'Safe'.
Based on REITwave's institutional property-level valuation models, AMERICAN TOWER CORP's consensus base NAV is $205.98 per share. Trading at $188.97, the stock reflects an implied market cap rate of 6.54% and trades at a 8.3% discount to NAV (undervalued).
AMERICAN TOWER CORP owns and operates approximately 150 commercial real estate properties across the United States. The portfolio reports an average physical occupancy rate of 98.4% with a weighted average lease term (WALT) of 6.5 years.
AMERICAN TOWER CORP currently trades at a Price / AFFO multiple of 19.5x based on forward AFFO per share of $9.69. Its Price / FFO multiple stands at 18.0x against forward FFO per share of $10.47.
According to the latest SEC Form DEF 14A proxy statement filed with EDGAR, the Chief Executive Officer is Steven O. Vondran. Total annual reported compensation was $14,854,505, reflecting a CEO-to-median-worker pay ratio of 142:1.
AMERICAN TOWER CORP maintains a Net Debt-to-EBITDA ratio of 5.0x and carries an investment-grade credit rating of BBB. Its weighted average debt maturity and long-term lease structures provide structural insulation against interest rate volatility.