Yielding 3.5%, Is American Tower the Ultimate Dividend Growing REIT to Buy Right Now?
American Tower (NYSE: AMT) has put up fantastic returns for investors over the past two decades. Since 2002, its total return level has been close to 10,000%, ranking the stock right on the threshold of becoming a 100-bagger. By comparison, the S&P 500 has put up a total return of 637% over that same period.
But the last year has been a different story. The cell tower real estate investment trust (REIT) is facing multiple headwinds to its earnings, which have caused the shares to nosedive. They are down 33% in the past 12 months while the S&P 500 is up some 6%, a nearly 40% gap in price performance.
This dip has brought American Tower's dividend yield to a record level, close to 3.5% as of this writing. While there are definitely some near-term concerns for the company, that dividend yield could present a great buying opportunity for investors focused on the long term.
Source Fool.com
