AMT vs NLY: Which Is the Better Dividend Stock?
As of September 2026, AMT (American Tower Corporation) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. NLY offers the higher yield at 13.64%, AMT has the higher dividend-safety score, and NLY trades at the larger discount to fair value (+98%).
| Metric | AMT | NLY |
|---|---|---|
| Forward yield | 4.04% | 13.64% |
| Annual dividend | $6.98 | $3.00 |
| Payout ratio | 96% | 69% |
| Years of growth | 13 yr | 1 yr |
| 5-yr dividend growth | 8.5% | -5.1% |
| 5-yr total return | -33% | -35% |
| Dividend safety score | 72 (B) | 55 (C) |
| Fair value estimate | $159.72 | $45.27 |
| Upside to fair value | -9% | +98% |
| Frequency | quarterly | quarterly |
| Market cap | $82.9B | $16.5B |
| P/E ratio | 23.8 | 5.3 |
Higher yield
NLY
13.64%
Safer dividend
AMT
Grade B
Faster growth
AMT
8.5%
Better value
NLY
+98% upside
AMT vs NLY — FAQ
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