AMT vs DLR: Which Is the Better Dividend Stock?
As of September 2026, AMT (American Tower Corporation) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. AMT offers the higher yield at 3.92%, DLR has the higher dividend-safety score, and AMT trades at the larger discount to fair value (-10%).
| Metric | AMT | DLR |
|---|---|---|
| Forward yield | 3.92% | 2.63% |
| Annual dividend | $6.98 | $4.88 |
| Payout ratio | 96% | 238% |
| Years of growth | 13 yr | 0 yr |
| 5-yr dividend growth | 8.5% | 1.7% |
| 5-yr total return | -33% | 31% |
| Dividend safety score | 72 (B) | 85 (A) |
| Fair value estimate | $159.72 | $106.36 |
| Upside to fair value | -10% | -44% |
| Frequency | quarterly | quarterly |
| Market cap | $82.9B | $71.2B |
| P/E ratio | 24.5 | 91.5 |
Higher yield
AMT
3.92%
Safer dividend
DLR
Grade A
Faster growth
AMT
8.5%
Better value
AMT
-10% upside
AMT vs DLR — FAQ
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