10 Best Dividend Stocks Yielding at Least 7% According to Analysts

5. Crown Castle Inc. (NYSE:CCI)

Upside Potential as of February 5: 9.04%

Dividend Yield as of February 5: 7.02%

Crown Castle Inc. (NYSE:CCI) is a Texas-based real estate investment trust company that focuses on providing infrastructure for wireless communication. The company, which primarily focuses on data infrastructure like cell towers, has encountered challenges in recent years due to higher interest rates and tenant issues, impacting its growth. As a result, it expects a decline of approximately 8% in its adjusted funds from operations (FFO) this year. In the past year, the stock has declined by nearly 15%.

In response to these challenges, Crown Castle Inc. (NYSE:CCI) has adjusted its strategy. It has shifted its attention to capital projects with higher returns, leading to a reduction in growth spending plans. In addition, the company has initiated a strategic review of its fiber business. These steps are expected to improve its cash flow and returns, allowing it to better support organic growth opportunities with internal funds.

The company’s performance was also highlighted by Columbia Threadneedle Investments in its Q3 2024 investor letter. Here is what the firm has to say:

“The fund held two out-of-benchmark positions in Real Estate Investment Trust (REIT) companies American Tower Corporation and Crown Castle Inc. (NYSE:CCI). REITs have historically performed well during periods of declining interest rates due to lower borrowing costs. The two companies performed very well during the third quarter after the Federal Reserve cut interest rates 50 basis points in September, with the expectation for additional cuts soon.”

Crown Castle Inc. (NYSE:CCI) currently offers a quarterly dividend of $1.565 per share and has a dividend yield of 7.02%, as of February 5. The company returned $681 million to shareholders through dividends in the most recent quarter, which makes CCI one of the best dividend stocks on our list.

As of the end of Q3 2024, 34 hedge funds tracked by Insider Monkey held stakes in Crown Castle Inc. (NYSE:CCI), compared with 38 in the previous quarter. The overall value of these stakes is more than $1.24 billion.