Principal Financial Group Inc. Has $1.06 Billion Holdings in American Tower Corporation $AMT

Key Points

• Principal Financial Group increased its position in American Tower to 6,038,061 shares (about 1.29% ownership) valued at approximately $1.06 billion after adding 57,545 shares in the fourth quarter.
• American Tower beat quarterly expectations with $2.84 EPS (vs. $1.60 est.) and $2.74B revenue, provided FY2026 EPS guidance of 10.900–11.07, and raised its quarterly dividend to $1.79 (4.0% yield).
• Analysts give AMT an overall rating of "Moderate Buy" with an average target of $218.05, while institutional investors hold roughly 92.7% of the stock and the company carries a market cap near $84.3B (P/E ≈ 29).

Principal Financial Group Inc. raised its position in American Tower Corporation (NYSE:AMT - Free Report) by 1.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,038,061 shares of the real estate investment trust's stock after acquiring an additional 57,545 shares during the period. Principal Financial Group Inc. owned approximately 1.29% of American Tower worth $1,060,103,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in AMT. Mirae Asset Global Investments Co. Ltd. boosted its stake in American Tower by 8.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust's stock valued at $18,615,000 after buying an additional 7,872 shares during the period. Eastern Bank boosted its stake in American Tower by 69.6% during the third quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust's stock valued at $26,750,000 after buying an additional 57,078 shares during the period. Krilogy Financial LLC bought a new stake in American Tower during the third quarter valued at $1,044,000. Machina Capital S.A.S. bought a new stake in American Tower during the third quarter valued at $2,871,000. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in American Tower by 92.4% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust's stock valued at $11,808,000 after buying an additional 29,486 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AMT shares. Barclays dropped their price objective on American Tower from $200.00 to $195.00 and set an "equal weight" rating for the company in a research note on Thursday, April 16th. Jefferies Financial Group lifted their price objective on American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. JPMorgan Chase & Co. dropped their price objective on American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Sanford C. Bernstein lifted their price objective on American Tower from $205.00 to $207.00 and gave the company a "market perform" rating in a research note on Tuesday, April 28th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $240.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $218.05.

American Tower Trading Down 0.4%

Shares of AMT stock opened at $180.92 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The business has a 50-day moving average price of $180.04 and a two-hundred day moving average price of $179.99. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33. The firm has a market cap of $84.32 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 0.76 and a beta of 0.90.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the company posted $2.75 earnings per share. The company's revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities analysts anticipate that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th were issued a $1.79 dividend. This is an increase from American Tower's previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Tuesday, April 14th. American Tower's dividend payout ratio (DPR) is presently 115.67%.

Insider Activity

In other news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares of the company's stock, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur acquired 2,671 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were bought at an average cost of $185.30 per share, with a total value of $494,936.30. Following the purchase, the director owned 4,936 shares of the company's stock, valued at approximately $914,640.80. This trade represents a 117.92% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 42,181 shares of company stock valued at $8,046,071. 0.08% of the stock is currently owned by company insiders.

About American Tower

American Tower NYSE: AMT is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company's core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.

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