Assessing American Tower (AMT) Valuation After Dividend Increase And CoreSite Expansion Progress

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American Tower (AMT) recently increased its quarterly dividend to $1.79 per share, leading to a reassessment of its valuation. The stock trades at a P/E of 34x, which is below its peer average but above the industry average for North American Specialized REITs, suggesting it’s about right compared to its fair P/E of 35.1x. However, a DCF model indicates the shares might be undervalued by 31.4% against an estimated future cash flow value of $268.81.

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