Principal Financial Group Inc. Sells 123,470 Shares of American Tower Corporation $AMT

Key Points

• Principal Financial Group cut its American Tower stake by 2.0% in the first quarter, selling 123,470 shares and still holding about 5.9 million shares worth roughly $1.02 billion.
• American Tower reported strong quarterly results, with EPS of $2.84 beating estimates by $1.24 and revenue of $2.74 billion topping expectations. The company also raised its FY 2026 guidance to 10.90–11.07 EPS.
• The stock continues to attract mostly bullish analyst coverage, with multiple firms reiterating or raising price targets and consensus rating at “Moderate Buy”; meanwhile, the company pays a quarterly dividend of $1.79, or $7.16 annualized, for a 4.2% yield.

Principal Financial Group Inc. trimmed its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,914,591 shares of the real estate investment trust's stock after selling 123,470 shares during the period. Principal Financial Group Inc. owned approximately 1.27% of American Tower worth $1,020,743,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Parr Mcknight Wealth Management Group LLC boosted its stake in American Tower by 26.5% during the first quarter. Parr Mcknight Wealth Management Group LLC now owns 10,323 shares of the real estate investment trust's stock worth $1,782,000 after buying an additional 2,160 shares in the last quarter. Triglav Investments D.O.O. raised its stake in shares of American Tower by 2.5% in the 1st quarter. Triglav Investments D.O.O. now owns 15,268 shares of the real estate investment trust's stock valued at $2,634,000 after buying an additional 368 shares in the last quarter. J. Safra Sarasin Holding AG raised its stake in shares of American Tower by 8.6% in the 1st quarter. J. Safra Sarasin Holding AG now owns 100,445 shares of the real estate investment trust's stock valued at $17,329,000 after buying an additional 7,982 shares in the last quarter. Hibernia Wealth Partners LLC lifted its holdings in shares of American Tower by 6.2% during the 1st quarter. Hibernia Wealth Partners LLC now owns 1,585 shares of the real estate investment trust's stock worth $274,000 after acquiring an additional 92 shares during the period. Finally, Applied Finance Capital Management LLC boosted its position in shares of American Tower by 3.0% during the 1st quarter. Applied Finance Capital Management LLC now owns 6,325 shares of the real estate investment trust's stock valued at $1,092,000 after acquiring an additional 187 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Price Performance

AMT opened at $169.47 on Tuesday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $78.95 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91. The company's 50 day simple moving average is $178.39 and its 200-day simple moving average is $178.90. American Tower Corporation has a one year low of $160.06 and a one year high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Sell-side analysts anticipate that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a $1.79 dividend. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.2%. American Tower's dividend payout ratio (DPR) is currently 115.67%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMT. Scotiabank upped their target price on shares of American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Wolfe Research upgraded shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price target for the company in a research note on Wednesday, July 8th. The Goldman Sachs Group initiated coverage on American Tower in a research note on Friday, June 26th. They issued a "buy" rating and a $215.00 price objective on the stock. Citizens Jmp reissued a "market outperform" rating and issued a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. Finally, Jefferies Financial Group raised their target price on American Tower from $209.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $215.57.

Insider Buying and Selling

In related news, EVP Ruth T. Dowling sold 416 shares of American Tower stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares in the company, valued at $5,230,505.94. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by insiders.

American Tower Company Profile

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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