10 Best Real Estate and Realty Stocks To Buy According to Hedge Funds

5. Crown Castle Inc. (NYSE:CCI)

Number of Hedge Fund Holders: 43

Crown Castle Inc. (NYSE:CCI) serves as the largest provider of communications infrastructure in the United States. The company has an experience of 30 years of owning and operating network assets. It was founded in 1994 with an initial portfolio of 133 cell towers. In 1998, it went public with approximately 1,400 towers. Crown Castle now offers a nationwide footprint of towers, small cells, and fiber to help businesses and organizations connect to technologies and innovations.

The REIT has a presence in every major US market through over 40,000 cell towers, 115,000 on-air or under-contract small cell nodes, and 90,000 route miles of fiber. The company is rightly positioned to capitalize on the growing demand for data in the United States and claims to have a strong trajectory with growth opportunities for the years to follow. It is set to benefit from the long-term US wireless data demand growth. The company is meant to offer the US wireless carriers the prime real estate they require to run their networks. For tailwinds such as 5G and the Internet of Things which are to stay, the firm’s infrastructure solutions are crucial.

Some of the bitter circumstances that have impacted the company’s financial performance in 2023 include higher interest rates and Sprint canceling its cell tower leases with the firm. However, its results for the second quarter results showed solid operating and financial performance in all of its businesses and reiterated its full-year 2024 outlook. While the firm believes that there is a demand to grow small cell business revenues by double digits over the next few years, the fiber solutions business delivered growth above its 3% expectation.

Crown Castle Inc. (NYSE:CCI) seems attractive with its unique network of communications infrastructure, the performance of its underlying business, and the level of growth achieved by its businesses. As of March 31, the stock was held by 43 hedge funds thereby ranking it on our list.