10 Best Stocks For Dividends

8. American Tower Corporation (NYSE:AMT)

Number of Hedge Fund Holders: 61

American Tower Corporation (NYSE:AMT) is a real estate investment trust company that owns and operates wireless and broadcast communications infrastructure globally. Barclays maintained an Overweight rating on the stock in March with a $229 price target, highlighting the customer exposure and growth metrics.

American Tower Corporation (NYSE:AMT) pays a quarterly dividend of $1.56 per share. In 2022, the company raised its dividend for the 11th consecutive year, which makes it one of the best dividend stocks on our list. As of March 25, the stock has a dividend yield of 3.13%.

As of the end of Q4 2022, 61 hedge funds tracked by Insider Monkey reported having stakes in American Tower Corporation (NYSE:AMT), worth nearly $3.4 billion collectively.

ClearBridge Investments mentioned American Tower Corporation (NYSE:AMT) in its Q4 2022 investor letter. Here is what the firm has to say:

“Real estate and communication services sectors generated positive returns but lagged others within the Russell 1000 Value Index. The Strategy benefited from its underweight in the real estate sector with American Tower Corporation (NYSE:AMT) as its only holding. REITs are generally perceived to be interest rate sensitive, which negatively impacted American Tower’s recent stock performance. However, we remain confident in the company’s highly durable and predictable business model, which is supported by long-term customer contracts and insatiable wireless data growth.”