12 Best REIT Stocks to Buy Now

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1. American Tower Corporation (NYSE:AMT)

Number of Hedge Fund Holders: 73

American Tower Corporation (NYSE:AMT) is an independent owner, operator, and developer of multitenant communications real estate. The company boasts a solid portfolio of more than 148,000 communications sites and a highly interconnected footprint of US data center facilities.

AMT is a rather long-term investment as it continues to benefit from the rising strong growth in mobile data consumption and the demand for its portfolio of communications assets. The company is making solid progress as carrier rollouts of 5G coverage are driving robust activity levels in America and Europe. Simultaneously, emerging markets like those in Africa are seeing healthy pipelines of new business driven by network upgrades and coverage expansion.

The demand for the company’s global portfolio of communications infrastructure assets counters the problems facing it such as its most recent quarter’s revenue growing by less than 0.1%. This was due to the sale of its operations in India to an affiliate of Brookfield Asset Management.

While we acknowledge the potential of AMT as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than AMT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

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