In this article, we will be taking a look at the 5 best data center REIT dividend stocks to buy. To read our detailed analysis of dividend investing, you can go directly to see the 10 Best Data Center REIT Dividend Stocks to Buy.
5. CyrusOne Inc. (NASDAQ: CONE)
Number of Hedge Fund Holders: 26
Dividend Yield: 2.58%
CyrusOne Inc. (NASDAQ: CONE), a global REIT, specializes in the design, construction, and operation of over 50 data centers across the globe. It ranks 5th on our list of the best data center REIT dividend stocks to buy, and is based in Dallas, Texas.
Raymond James has an Outperform rating on shares of CyrusOne Inc. (NASDAQ: CONE) as of this July, alongside an $82 price target.
In the second quarter of 2021, CyrusOne Inc. (NASDAQ: CONE) had an FFO of $1, beating estimates by $0.02. The company’s revenue was $284.6 million, up 11% year over year and beating estimates by $8.67 million. CyrusOne Inc. (NASDAQ: CONE) has gained 26.59% in the past 6 months and 15.67% year to date.
By the end of the second quarter of 2021, 26 hedge funds out of the 873 tracked by Insider Monkey held stakes in CyrusOne Inc. (NASDAQ: CONE) worth roughly $487 million. This is compared to 21 hedge funds in the previous quarter with a total stake value of approximately $202 million.
4. Crown Castle International Corp. (REIT) (NYSE: CCI)
Number of Hedge Fund Holders: 42
Dividend Yield: 2.68%
Crown Castle International Corp. (REIT) (NYSE: CCI) is an owner and operator of over 40,000 cell towers and 80,000 route miles of fiber to support small cells and fiber solutions across US markets. The company ranks 4th on our list of the best data center REIT dividend stocks to buy.
KeyBanc holds an Overweight rating on shares of Crown Castle International Corp. (REIT) (NYSE: CCI) as of this July, and has also raised its price target on the stock from $207 to $224.
In the second quarter of 2021, Crown Castle International Corp. (REIT) (NYSE: CCI) had an FFO of $1.69, beating estimates by $0.06. The company’s revenue was $1.58 billion, up 9.93% year over year and beating estimates by $22.48 million. Crown Castle International Corp. (REIT) (NYSE: CCI) has gained 33.11% in the past 6 months and 28.06% year to date.
By the end of the second quarter of 2021, 42 hedge funds out of the 873 tracked by Insider Monkey held stakes in Crown Castle International Corp. (REIT) (NYSE: CCI) worth roughly $2.1 billion. This is compared to 43 hedge funds in the previous quarter with a total stake value of approximately $1.9 billion.
3. Digital Realty Trust, Inc. (NYSE: DLR)
Number of Hedge Fund Holders: 30
Dividend Yield: 2.77%
Digital Realty Trust, Inc. (NYSE: DLR) is a data center REIT that supports leading enterprises and service providers across the globe through the delivery of its data center, colocation, and interconnection solutions. The company ranks 3rd on our list of the best data center REIT dividend stocks to buy.
This August, Citi analyst Michael Rollins raised the price target on shares of Digital Realty Trust, Inc. (NYSE: DLR) from $160 to $179. The analyst also holds a Buy rating on the stock.
In the second quarter of 2021, Digital Realty Trust, Inc. (NYSE: DLR) had an FFO of $1.54, missing estimates by $0.04. The company’s revenue was $1.09 billion, up 10.09% year over year and beating estimates by $22.13 million. Digital Realty Trust, Inc. (NYSE: DLR) has gained 29.92% in the past 6 months and 23.88% year to date.
By the end of the second quarter of 2021, 30 hedge funds out of the 873 tracked by Insider Monkey held stakes in Digital Realty Trust, Inc. (NYSE: DLR) worth roughly $424 million. This is compared to 22 hedge funds in the previous quarter with a total stake value of approximately $296 million.
2. CoreSite Realty Corporation (NYSE: COR)
Number of Hedge Fund Holders: 16
Dividend Yield: 3.29%
CoreSite Realty Corporation (NYSE: COR) works to deliver secure, high-performance, and reliable data center, cloud access, and interconnection solutions across eight North American markets. The company ranks 2nd on our list of the best data center REIT dividend stocks to buy.
Barclays raised the price target on shares of CoreSite Realty Corporation (NYSE: COR) from $118 to $123 this August.
In the second quarter of 2021, CoreSite Realty Corporation (NYSE: COR) had an FFO of $1.42, beating estimates by $0.06. The company’s revenue was $162.12 million, up 7.69% year over year and beating estimates by $2.21 million. CoreSite Realty Corporation (NYSE: COR) has gained 41.26% in the past 6 months and 27.08% year to date.
By the end of the second quarter of 2021, 16 hedge funds out of the 873 tracked by Insider Monkey held stakes in CoreSite Realty Corporation (NYSE: COR) worth roughly $198 million. This is compared to 15 hedge funds in the previous quarter with a total stake value of approximately $173 million.
Baron Funds, an asset management firm, mentioned CoreSite Realty Corporation (NYSE: COR) in its second-quarter 2021 investor letter. Here’s what they said:
“CoreSite Realty Corporation: CoreSite is a REIT that operates a highquality real estate portfolio of 25 well-located real estate data centers in eight markets in the U.S. We believe the company is poised for a positive inflection in cash flow growth in the next few years. In our opinion, the shares are attractively valued relative to its public data center peers and recent private market transactions.”
1. Iron Mountain Incorporated (NYSE: IRM)
Number of Hedge Fund Holders: 25
Dividend Yield: 5.01%
Iron Mountain Incorporated (NYSE: IRM) is a global leader in the storage and management of information. The company ranks 1st on our list of the best data center REIT dividend stocks to buy and is based in Boston.
Wells Fargo holds an Overweight rating on shares of Iron Mountain Incorporated (NYSE: IRM) as of this February, and has also raised the price target on the stock from $32 to $38.
In the second quarter of 2021, Iron Mountain Incorporated (NYSE: IRM) had an FFO of $0.69, beating estimates by $0.05. The company’s revenue was $1.12 billion, up 14% year over year and beating estimates by $25.69 million. Iron Mountain Incorporated (NYSE: IRM) has gained 41.41% in the past 6 months and 72.30% year to date.
By the end of the second quarter of 2021, 25 hedge funds out of the 873 tracked by Insider Monkey held stakes in Iron Mountain Incorporated (NYSE: IRM) worth roughly $81.9 million. This is compared to 16 hedge funds in the previous quarter with a total stake value of approximately $56.3 million.
See also 10 Best Data Center Stocks To Buy Now and 10 Best Climate Change Stocks to Buy Now.
