5 Best Real Estate and Realty Stocks to Buy According to Hedge Funds

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1. American Tower Corporation (NYSE:AMT)

Number of Hedge Fund Holders: 65

American Tower Corporation (NYSE:AMT) is an American real estate investment trust that operates as an owner and operator of wireless and broadcast communications infrastructure in several countries worldwide. Headquartered in Boston, Massachusetts, it was ranked 375th on the Fortune 500 in 2022. One of the largest global REITs, American Tower Corporation (NYSE:AMT) manages around 223,000 global communication assets. The real estate company currently pays a quarterly dividend of $1.57 per share with a yield of 3.24%.

The number of hedge funds in Insider Monkey’s database owning stakes in American Tower Corporation (NYSE:AMT) grew to 65 in Q1 2023, from 61 in the previous quarter. The consolidated value of these stakes is over $3.2 billion.

ClearBridge Investments mentioned American Tower Corporation (NYSE:AMT)’s long-term growth prospects in its Q4 2022 investor letter.

“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.”

See also 10 Undervalued Semiconductor Stocks To Buy Now and 20 Largest Semiconductor Companies in the World.

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