As of September 30, 2023, Sabra's investment portfolio included 377 real estate properties held for investment (consisting of (i) 240 Skilled Nursing/Transitional Care facilities, (ii) 43 senior housing communities (Senior Housing - Leased), (iii) 61 senior housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing - Managed), (iv) 18 Behavioral Health facilities and (v) 15 Specialty Hospitals and Other facilities), 12 investments in loans receivable (consisting of two mortgage loans and 10 other loans), five preferred equity investments and two investments in unconsolidated joint ventures. As of September 30, 2023, Sabra's real estate properties held for investment included 37,606 beds/units, spread across the United States and Canada.

Sabra Health Care REIT, Inc.

Looking at the universe of stocks we cover at Dividend Channel, on 8/15/25, HCI Group Inc (Symbol: HCI), Sabra Health Care REIT Inc (Symbol: SBRA), and ConnectOne Bancorp Inc (Symbol: CNOB) will all trade ex-dividend for their respective upcoming dividends. HCI Group Inc will pay its quarterly dividend of $0.40 on 9/19/25, Sabra Health Care REIT Inc will pay its quarterly dividend of $0.30 on 8/29/25, and ConnectOne Bancorp Inc will pay its quarterly dividend of $0.18 on 9/2/25. As a percentage of HCI's recent stock price of $156.29, this dividend works out to approximately 0.26%, so look for shares of HCI Group Inc to trade 0.26% lower — all else being equal — when HCI shares open for trading on 8/15/25. Similarly, investors should look for SBRA to open 1.61% lower in price and for CNOB to open 0.75% lower, all else being equal.
Below are dividend history charts for HCI, SBRA, and CNOB, showing historical dividends prior to the most recent ones declared.
HCI Group Inc (Symbol: HCI):
Sabra Health Care REIT Inc (Symbol: SBRA):
ConnectOne Bancorp Inc (Symbol: CNOB):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 1.02% for HCI Group Inc, 6.44% for Sabra Health Care REIT Inc, and 3.00% for ConnectOne Bancorp Inc.
In Wednesday trading, HCI Group Inc shares are currently up about 1.3%, Sabra Health Care REIT Inc shares are down about 0.1%, and ConnectOne Bancorp Inc shares are up about 4.9% on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Ex-Dividend Reminder: HCI Group, Sabra Health Care REIT and ConnectOne Bancorp

Shareholders of Sabra Health Care REIT Inc (Symbol: SBRA) looking to boost their income beyond the stock's 6.5% annualized dividend yield can sell the July covered call at the $20 strike and collect the premium based on the 5 cents bid, which annualizes to an additional 32.9% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 39.4% annualized rate in the scenario where the stock is not called away. Any upside above $20 would be lost if the stock rises there and is called away, but SBRA shares would have to advance 8.3% from current levels for that to happen, meaning that in the scenario where the stock is called, the shareholder has earned a 8.5% return from this trading level, in addition to any dividends collected before the stock was called.
In general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of Sabra Health Care REIT Inc, looking at the dividend history chart for SBRA below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 6.5% annualized dividend yield.
Below is a chart showing SBRA's trailing twelve month trading history, with the $20 strike highlighted in red:
The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the July covered call at the $20 strike gives good reward for the risk of having given away the upside beyond $20. (Do most options expire worthless? This and six other common options myths debunked). We calculate the trailing twelve month volatility for Sabra Health Care REIT Inc (considering the last 250 trading day closing values as well as today's price of $18.43) to be 24%. For other call options contract ideas at the various different available expirations, visit the SBRA Stock Options page of StockOptionsChannel.com.
In mid-afternoon trading on Tuesday, the put volume among S&P 500 components was 989,342 contracts, with call volume at 2.30M, for a put:call ratio of 0.43 so far for the day. Compared to the long-term median put:call ratio of .65, that represents very high call volume relative to puts; in other words, buyers are preferring calls in options trading so far today. Find out which 15 call and put options traders are talking about today.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

YieldBoost Sabra Health Care REIT From 6.5% To 39.4% Using Options

In trading on Tuesday, shares of Sabra Health Care REIT Inc (Symbol: SBRA) crossed above their 200 day moving average of $17.55, changing hands as high as $17.63 per share. Sabra Health Care REIT Inc shares are currently trading up about 0.9% on the day. The chart below shows the one year performance of SBRA shares, versus its 200 day moving average:
Looking at the chart above, SBRA's low point in its 52 week range is $13.87 per share, with $20.03 as the 52 week high point — that compares with a last trade of $17.60.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Sabra Health Care REIT Breaks Above 200-Day Moving Average - Bullish for SBRA

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the iShares U.S. Real Estate ETF (Symbol: IYR), we found that the implied analyst target price for the ETF based upon its underlying holdings is $106.78 per unit.
With IYR trading at a recent price near $94.86 per unit, that means that analysts see 12.56% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of IYR's underlying holdings with notable upside to their analyst target prices are Sabra Health Care REIT Inc (Symbol: SBRA), Omega Healthcare Investors, Inc. (Symbol: OHI), and Starwood Property Trust Inc. (Symbol: STWD). Although SBRA has traded at a recent price of $17.28/share, the average analyst target is 13.57% higher at $19.62/share. Similarly, OHI has 12.95% upside from the recent share price of $36.18 if the average analyst target price of $40.87/share is reached, and analysts on average are expecting STWD to reach a target price of $21.57/share, which is 12.64% above the recent price of $19.15. Below is a twelve month price history chart comparing the stock performance of SBRA, OHI, and STWD:
Below is a summary table of the current analyst target prices discussed above:
Name
Symbol
Recent Price
Avg. Analyst 12-Mo. Target
% Upside to Target
iShares U.S. Real Estate ETF
IYR
$94.86
$106.78
12.56%
Sabra Health Care REIT Inc
SBRA
$17.28
$19.62
13.57%
Omega Healthcare Investors, Inc.
OHI
$36.18
$40.87
12.95%
Starwood Property Trust Inc.
STWD
$19.15
$21.57
12.64%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

How The Pieces Add Up: IYR Targets $107

Alexandria Real Estate Equities (ARE) came out with quarterly funds from operations (FFO) of $2.30 per share, beating the Zacks Consensus Estimate of $2.28 per share. This compares to FFO of $2.35 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an FFO surprise of 0.88%. A quarter ago, it was expected that this life science real estate company would post FFO of $2.39 per share when it actually produced FFO of $2.39, delivering no surprise.
Over the last four quarters, the company has surpassed consensus FFO estimates two times.
Alexandria Real Estate Equities, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $758.2 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 1.16%. This compares to year-ago revenues of $769.11 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.
Alexandria Real Estate Equities shares have lost about 22.2% since the beginning of the year versus the S&P 500's decline of -6.1%.
What's Next for Alexandria Real Estate Equities?
While Alexandria Real Estate Equities has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Alexandria Real Estate Equities: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus FFO estimate is $2.32 on $760.31 million in revenues for the coming quarter and $9.30 on $3.02 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the bottom 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Sabra Healthcare (SBRA), another stock in the same industry, has yet to report results for the quarter ended March 2025. The results are expected to be released on May 5.
This health care real estate investment trust is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of +2.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Sabra Healthcare's revenues are expected to be $181.82 million, up 9% from the year-ago quarter.
Should You Invest in Alexandria Real Estate Equities, Inc. (ARE)?
Before you invest in Alexandria Real Estate Equities, Inc. (ARE), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.
Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Alexandria Real Estate Equities (ARE) Surpasses Q1 FFO and Revenue Estimates

Armada Hoffler Properties AHH recently secured three new office leases with three tenants totaling approximately 20,000 square feet of space at one of Atlanta’s premier mixed-use developments, The Interlock.
The office space that remained unoccupied after the WeWork exit has now been nearly leased, indicating the office market’s strong rebound and renewed demand.
The three new tenants, private equity firm Directional Capital, digital marketing firm Look Listen, and law firm Levy, Sibley, Foreman & Speir, LLC, represent a diverse array of industries and bring a dynamic range of talent to the building.
These leases are part of The Interlock's commitment to creating a thriving, innovative community of businesses in one of Atlanta's most desirable neighborhoods.
The Interlock's design comprises modern office spaces, restaurants, retail and entertainment options. Its prime location and high-end facilities make it one of Atlanta's most desirable properties.
In addition to the above lease, the company has secured a few more leases in recent times. This month, the company had announced that the Formula1 hospitality brand, F1 Arcade, signed a 15,000-square-foot lease at The Interlock. In February 2025, it executed a large and impactful new lease with The Gathering Spot, totaling 58,000 square feet of space at The Interlock. With the addition of these new office leases, Armada Hoffler is seeing strong tenant demand for space at The Interlock.
Shares of this Zacks Rank #3 (Hold) company have declined 22.4% over the past three months against the industry’s growth of 2.9%.
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Stocks to Consider
Some better-ranked stocks from the broader REIT sector are Welltower WELL and Sabra Healthcare REIT SBRA, each carrying a Zacks Rank of #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Welltower’s 2025 FFO per share is pegged at $4.90, which indicates year-over-year growth of 13.4%.
The Zacks Consensus Estimate for Sabra’s full-year FFO per share is $1.49, which indicates an increase of 3.5% from the year-ago period.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Armada Hoffler Secures Three New Office Leases at The Interlock

Digital Realty DLR has forayed into the Indonesian market through a 50-50 joint venture with Bersama Digital Infrastructure Asia (BDIA). The newly formed entity, Digital Realty Bersama, will develop and operate data centers across Indonesia, enhancing the company's presence in the rapidly growing Asia-Pacific region. This expansion significantly strengthens Digital Realty’s PlatformDIGITAL footprint, supporting Indonesia’s accelerating digital economy.
Digital Realty Bersama combines Digital Realty’s global expertise with BDIA’s local market knowledge and network capabilities. BDIA’s carrier-neutral data center platform, Bersama Digital Data Centres (“BDDC”), has been contributed to the JV, which will now operate as Digital Realty Bersama.
Indonesia’s digital landscape is poised for exponential growth, fueled by a young, tech-savvy population and increasing demand for cloud computing and AI-powered infrastructure. According to Structure Research, the Jakarta colocation market is expected to generate $499 million in 2025, with a five-year CAGR of 11%.
Recognizing this potential, Digital Realty has committed approximately $100 million for a 50% stake in the data centers and adjacent land, solidifying its position in one of Southeast Asia’s promising data center markets. Apart from its equity interest, DLR will receive property management and development fees from the JV.
Digital Realty Bersama
BDDC’s experienced leadership team, including CEO Angelo Syailendra and Chairman Setyanto Hantoro, will continue to oversee operations, with Krishna Worotikan, former Country Chief Financial Officer of Microsoft Indonesia, joining as CFO.
Digital Realty Bersama owns and operates a connected campus featuring two high-performance data centers — CGK10 in West Jakarta and CGK11 in Central Jakarta. CGK11, a newly launched state-of-the-art facility, initially offers 5 MW of IT load capacity, with plans to scale up to 32 MW.
Positioned strategically in Jakarta’s central business district, CGK11 is designed to serve as a key connectivity hub, providing direct access to a vast array of networks and services throughout Indonesia as well as a direct connection to the Association of Indonesian Internet Service Providers (APJII). Moreover, Digital Realty's service orchestration platform, ServiceFabric, will supplement connectivity and optimize hybrid IT workflows and AI workloads for enterprises.
Final Words on Digital Realty
Digital Realty’s strategic push into Indonesia reinforces its global growth trajectory, diversifying its portfolio while tapping into an underserved yet high-growth market. With growing digital transformation, cloud computing and the proliferation of artificial intelligence, the company is well-poised to gain from an unmatched global footprint of data centers. Its services, like PlatformDIGITAL, are likely to provide its tenants with a seamless experience. A solid tenant base assures stable revenues.
The accretive buyouts and investments in land and infrastructure globally and a robust development pipeline bode well for long-term growth. A healthy balance sheet position, with a well-laddered debt maturity schedule, is likely to aid future endeavors. However, intense competition from other industry players leads to aggressive pricing pressure, weighing its profitability.
Shares of this Zacks Rank #3 (Hold) company have declined 16.7% over the past three months against the industry’s growth of 4.9%. However, DLR has a long-term growth rate of 8.2%, ahead of the industry’s average of 6.5%.
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Stocks to Consider
Some better-ranked stocks from the broader REIT sector are Gladstone Land LAND and Sabra Healthcare REIT SBRA, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Gladstone’s 2025 FFO per share is pegged at 54 cents, which indicates year-over-year growth of 14.9%.
The Zacks Consensus Estimate for Sabra’s full-year FFO per share stands at $1.49, which calls for an increase of 3.5% from the year-ago period.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Digital Realty Forays Into Indonesia With Strategic Joint Venture

SBA Communications' SBAC portfolio is well-positioned to gain from wireless carriers’ high capital spending for network expansion amid growth in mobile data usage. The long-term leases with its tenants assure stable revenues. Also, portfolio expansion moves, domestically and internationally, are encouraging.
Analysts seem positive about this Zacks Rank #2 (Buy) company. The Zacks Consensus Estimate for SBAC’s 2025 and 2026 funds from operations (FFO) per share has moved marginally northward over the past two months to $12.91 and $13.32, respectively.
Shares of this communications real estate investment trust (REIT) company have gained 9.5% so far in the year, outperforming the industry’s rise of 4.5%. Given the strength of its fundamentals, there seems to be additional room for growth.
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Factors That Make SBA Communications Stock a Solid Pick
Robust Market Demand: The advancement in mobile technology, such as 4G and 5G networks, and the proliferation of bandwidth-intensive applications have propelled growth in mobile data usage globally. With increasing smartphone adoption, greater broadband demand and plans for 5G service worldwide, wireless service providers and carriers have been deploying additional equipment for existing networks to enhance network coverage and capacity. This has been spurring the demand for SBA Communications’ wireless communications infrastructure.
Resilient Business Model: SBA Communications has a resilient and stable site-leasing business model. The company generates most of its revenues from long-term (typically five to 10 year) tower leases that have built-in rent escalators. With high operating margins, its tower-leasing business remains attractive. Wireless service providers continue to lease additional antenna space on the company’s towers amid the increase in network use, data transfer, network expansion and network coverage requirements.
During 2025, management expects organic site leasing revenues in both its domestic and international segments to increase over 2024 levels on a currency-neutral basis. This is due in part to wireless carriers deploying unused spectrum, and revenues from towers acquired and built during 2024 and expected to be acquired and built during 2025.
Expansion Efforts: As the company continues to expand its tower portfolio and seek new growth opportunities, it focuses on business expansion into domestic and select international markets with high growth characteristics. In 2024, the company acquired 186 towers and related assets and built 482 towers. Additionally, SBA Communications spent $14.3 million to purchase land and easements and to extend its lease terms during the fourth quarter of 2024.
Following the fourth quarter of 2024, along with more than Millicom’s 7,000 sites under contract, SBA Communications purchased or is under contract to buy 32 communication sites for a total consideration of $14.6 million in cash. Such portfolio expansion efforts will position SBA Communications to leverage secular trends in mobile data usage and wireless spending growth across the globe.
Dividend Payment: Solid dividend payouts are arguably the biggest enticements for REIT shareholders and SBA Communications remains committed to that. In February 2025, the REIT announced a quarterly cash dividend of $1.11 per share on its Class A common stock, indicating an increase of nearly 13% from the prior quarter. The company has increased its dividend five times in the last five years, and its five-year annualized dividend growth rate is 19.75%. Given SBAC’s solid operating platform, decent financial position and a lower-than-industry dividend payout rate, the dividend distribution is expected to be sustainable over the long run.
Other Stocks to Consider
Some other top-ranked stocks from the broader REIT sector are Gladstone Land LAND and Sabra Healthcare REIT SBRA, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Gladstone’s 2025 FFO per share is pegged at 54 cents, which indicates year-over-year growth of 14.9%.
The Zacks Consensus Estimate for Sabra’s full-year FFO per share stands at $1.49, which calls for an increase of 3.5% from the year-ago period.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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SBA Communications Corporation (SBAC) : Free Stock Analysis Report
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Here's Why You Should Add SBA Communications Stock to Your Portfolio

Shares of Welltower WELL have gained 14.5% in the past three months, outperforming the industry’s decline of 0.5%.
Welltower owns a well-diversified portfolio of healthcare real estate assets in the key markets of the United States, Canada and the U.K. Given an aging population and an expected rise in senior citizens’ healthcare expenditure, the company’s senior housing operating (SHO) segment is well-poised to benefit from this positive trend. The outpatient medical (OM) portfolio is expected to benefit from favorable outpatient visit trends in the near term.
Analysts seem positive on this healthcare REIT, currently carrying a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for its 2025 funds from operations (FFO) per share has been revised 2.1% northward to $4.89 over the past month.
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Let us decipher the possible factors behind the surge in the stock price.
The senior citizens’ population is expected to rise in the years ahead. As a result, the national healthcare expenditure by senior citizens, who constitute a major customer base of healthcare services and incur higher healthcare expenditures than the average population, is likely to increase in the upcoming period. Muted new supply has also been a tailwind for this industry. Capitalizing on these positive aspects, WELL’s SHO portfolio is well-prepared for compelling multiyear revenue growth. In 2025, management anticipates the same-store SHO net operating income to grow within 15-21%.
Historically, there has been a favorable outpatient visit trend compared with in-patient admissions. Banking on this, the company is optimizing its OM portfolio, growing relationships with health system partners and deploying capital in strategic acquisitions. Given the favorable secular trends and growing need for value-based care, the company’s efforts to strengthen its OM footprint will boost long-term growth.
Welltower focuses on strategic portfolio optimization and synergistic collaborations with health systems to invest in the next-generation assets of health and wellness care delivery. The company has resorted to capital-recycling activities to finance near-term investment and development opportunities, paving the way for its long-term growth.
Welltower has also been actively banking on its growth opportunities through acquisitions. This month, Welltower announced that it is under contract to acquire Amica Senior Lifestyles portfolio from the Ontario Teachers' Pension Plan for C$4.6 billion. The deal, subject to customary regulatory approvals, is expected to close in the fourth quarter of 2025.
Welltower has a healthy balance sheet position and ample liquidity to meet near-term obligations and fund its development pipeline. As of Dec. 31, 2024, it had $8.7 billion of available liquidity, including $3.7 billion of cash & restricted cash and full capacity under its $5 billion line of credit. As of Dec. 31, 2024, the net debt to adjusted EBITDA was 3.49X, improving from 5.03X year over year. Moreover, Welltower’s debt maturities are well-laddered, with a weighted average maturity of 5.9 years, thereby enhancing its financial flexibility.
With the above-mentioned factors, we believe the rising trend in the stock is expected to continue in the near term.
Key Risks for WELL
A competitive landscape in the senior housing market and tenant concentration in its triple-net portfolio are likely to weigh on Welltower.
Other Stocks to Consider
Some other top-ranked stocks from the broader REIT sector are Cousins Properties CUZ and Sabra Healthcare REIT SBRA, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
The Zacks Consensus Estimate for Cousins Properties’ 2025 FFO per share is pinned at $2.76, which suggests year-over-year growth of 2.6%.
The Zacks Consensus Estimate for Sabra’s 2025 FFO per share stands at $1.49, which indicates an increase of 3.5% from the year-ago period.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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Welltower Stock Gains 14.5% in 3 Months: Will it Continue to Rise?

Delighting its shareholders, American Tower Corporation AMT announced a 4.9% hike in its quarterly dividend on the company’s common stock to $1.70 per share from $1.62 paid out earlier. The raised dividend is scheduled to be paid out on April 28 to shareholders of record as of April 11, 2025.
Based on the new rate, the annualized dividend rate comes to $6.80 per share, up from the prior annual rate of $6.48. This indicates an annualized yield of roughly 3.29%, considering American Tower’s closing price of $206.93 on March 6.
Solid dividend payouts are arguably the biggest enticements for REIT shareholders, and AMT had recently hinted about its plan to resume dividend growth at mid-single-digit rates in 2025 after focusing on deleveraging in prior years. In 2024, amid the setbacks that impacted its growth rate, this tower REIT had paused its dividend hikes for the year. AMT had faced significant headwinds in India and Latin America, affecting its growth prospects in these regions.
Is AMT’s Dividend Sustainable?
AMT's core tower business is benefiting from favorable industry trends. As mobile carriers push forward with their 5G network expansions, demand for AMT’s infrastructure has risen. In the fourth quarter of 2024, the company reported solid year-over-year organic tenant billings growth of 5%, with total tenant billings increasing 5.7%.
In the fourth quarter, data centers contributed $236 million to property revenues, reflecting a 9.8% increase year over year. Leveraging the growing demand for cloud computing and AI applications, the company plans to invest more than $600 million in expanding its data center portfolio in 2025. These investments are projected to yield stabilized returns in the mid-teens. Additionally, the company’s strategic move to exit operations in high-risk regions appears to be a positive step.
Beyond its strong operating platform, American Tower maintains ample liquidity to meet its debt obligations. Steady adjusted EBITDA margins, consistent revenue growth, and solid returns on invested capital highlight the resilience of its core business and reinforce its capacity to manage near-term liabilities. As of Dec. 31, 2024, the company held $12 billion in total liquidity. Additionally, it remains on track with its net leverage target of 5x EBITDA, having reduced floating-rate debt to just 3%. The company also benefits from a weighted average debt maturity of 5.7 years.
Therefore, with a solid operating model and healthy financial position, the company remains well-poised to respond to challenges and bank on growth opportunities. Also, we expect the latest dividend rate to be sustainable.
Wrapping Up on AMT
AMT's long-term growth prospects remain strong. The company is well-positioned to capitalize on robust demand for its communications infrastructure, as U.S. and European carriers deploy mid-band spectrum and emerging market operators enhance 4G networks and expand 5G coverage. Additionally, rising demand for AI and cloud computing is expected to drive further revenue growth in its data center segment. Its strategic exit from India and South African fiber, along with other non-core assets, should also enhance earnings quality and overall financial performance.
As investors are always on the lookout for companies with a track record of consistent and incremental dividend payouts to bet their money on, solid dividend payouts are arguably the biggest enticements for them. However, near-term headwinds from Sprint churn and FX volatility remain concerns. Also, interest rate headwinds are likely to continue in the current year.
Shares of this Zacks Rank #3 (Hold) company have risen 12.8% so far this year, well ahead of the industry's growth of 4.8%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader REIT sector are Gladstone Land LAND and Sabra Healthcare REIT SBRA, each carrying a Zacks Rank of #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Gladstone’s 2025 FFO per share is pegged at 54 cents, which indicates year-over-year growth of 14.9%.
The Zacks Consensus Estimate for Sabra’s full-year FFO per share is $1.49, which indicates an increase of 3.5% from the year-ago period.
Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.
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American Tower Corporation (AMT) : Free Stock Analysis Report
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Gladstone Land Corporation (LAND) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Sabra Health Care REIT, Inc.

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Shares 360

Investment risk — medium

Investment potential — high

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