AMT vs DLR: Dividend Comparison
Dividend data as of
American Tower Corp /Ma/ (AMT) and Digital Realty Trust, Inc. (DLR) are both in the Real Estate sector, making them natural rivals for dividend investors. AMT edges ahead on yield at 3.76% versus DLR's 2.83%. For dividend growth, AMT leads with a 5-year CAGR of 6.9% versus DLR's 1.3%. Both stocks carry a "Safe" dividend safety rating. AMT is a Dividend Contender with 14 years of consecutive increases.
Verdict
Yield Analysis
AMT yields 0.94% more than DLR. In dollar terms, AMT pays $6.72/share vs DLR's $4.88/share annually.
Dividend Growth
AMT: Dividend growth is slowing — the 3-year CAGR of 2.7% trails the 5-year rate of 6.9% and the 10-year rate of 13.5%.
DLR: Dividend growth is slowing — the 3-year CAGR of 0.0% trails the 5-year rate of 1.3% and the 10-year rate of 3.7%.
Dividend Safety
AMT: The payout ratio of 1% is well within sustainable levels, leaving room for future increases. Earnings cover the dividend 0.9x.
DLR: The payout ratio of 1% is well within sustainable levels, leaving room for future increases. Earnings cover the dividend 0.7x.
Estimated Annual Dividend Income
Based on current dividend yields. Actual income may vary.
What does $10,000 buy in AMT vs DLR today?
At $190.81 per share, $10,000 buys about 52.4 shares of American Tower Corp /Ma/ (AMT). Each share pays $6.72 per year in dividends, so the position starts out generating roughly $352 per year — about $29 a month.
At $180.51 per share, $10,000 buys about 55.4 shares of Digital Realty Trust, Inc. (DLR). Each share pays $4.88 per year in dividends, so the position starts out generating roughly $270 per year — about $23 a month.
AMT is the larger income stream from day one: $82 per year more on the same $10,000 invested.
What could $10,000 of AMT or DLR income look like in 10 years?
American Tower Corp /Ma/ (AMT) has raised its dividend about 6.9% a year over the past five years. If that pace held, the $376 per year that $10,000 generates today at the current 3.76% yield would reach $733 per year by 2036 — a 7.3% yield on the original cost.
Digital Realty Trust, Inc. (DLR) has raised its dividend about 1.3% a year over the past five years. If that pace held, the $283 per year that $10,000 generates today at the current 2.83% yield would reach $321 per year by 2036 — a 3.2% yield on the original cost.
On those trailing rates, AMT pays more in 2036: $733 versus $321 per year. The projection assumes each five-year growth rate persists and no dividends are reinvested — real payouts will differ.
When would DLR's dividend growth overtake AMT's higher yield?
It doesn't, on the trailing numbers. American Tower Corp /Ma/ (AMT) yields more today (3.76% vs 2.83%) and has also grown its dividend at least as fast (6.9% vs 1.3% a year over five years). Unless DLR accelerates its raises or AMT stumbles, DLR never closes the income gap — AMT wins on both current income and growth.
Can AMT and DLR afford their dividends?
American Tower Corp /Ma/ (AMT) earns $6.27 per share against $6.72 paid out in dividends — 0.9x coverage (a 1% payout ratio).
Digital Realty Trust, Inc. (DLR) earns $3.58 per share against $4.88 paid out in dividends — 0.7x coverage (a 1% payout ratio).
Coverage is similar for both, so neither dividend looks meaningfully more stretched than the other on current earnings.
Which fits an early-retirement income portfolio better, AMT or DLR?
For income you need right now, American Tower Corp /Ma/ (AMT) leads: $100,000 invested today pays about $314 a month at the current 3.76% yield, versus $236 a month from Digital Realty Trust, Inc. (DLR) at 2.83%.
AMT also leads on dividend growth (6.9% vs 1.3% a year over five years), so the trailing numbers favor it on both fronts.
On consistency: AMT has raised its dividend 14 consecutive years.
Many income investors simply hold both — the mix pairs current yield with growth and spreads single-name risk. Whichever way you lean, dividends are never guaranteed; recheck the payout each quarter rather than setting and forgetting.
$10,000 with DRIP: projected annual income
If each holding keeps raising its dividend at its real 5-year rate and every payment is reinvested, a $10,000 position pays $1,061/yr in AMT vs $424/yr in DLR by year 10.
Assumes dividends are reinvested at the current yield and grow at each holding's trailing 5-year dividend CAGR. A projection, not a prediction — no price appreciation modeled.
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