5 Best Real Estate Stocks To Buy Now

1. American Tower Corporation (NYSE:AMT)

Number of Hedge Fund Holders: 52

American Tower Corporation (NYSE:AMT) is a Boston, Massachusetts-based REIT that owns and operates wireless and broadcast communications infrastructure across the world. The company is one of the biggest REITs in the world, with a portfolio of 222,000 communication sites. It has over 43,000 properties in Canada and the US.

In an investor note issued on September 8, Philip Cusick at JPMorgan gave an Overweight rating on American Tower Corporation (NYSE:AMT) stock with a target price of $305. This development took place following a meeting with CFO Rod Smith. The analyst came out of the meeting with positive views on the company’s business operations in Asia, Europe, and the US and emerging trends from Africa and Latin America. The services business in the US is expected to remain strong in 2023 as the carriers will utilize and benefit from value-added offerings by American Tower Corporation (NYSE:AMT). American Tower Corporation (NYSE:AMT) offers an annual dividend of $5.88 per share, which translates into an annual dividend yield of 2.66% as of September 26.

Here’s what Baron Funds said about American Tower Corporation (NYSE:AMT) in its Q2 2022 investor letter:

“American Tower is a leading global tower company with 220,000 communication sites globally and over 40,000 in the U.S. We added to our position during the market dislocation and as it became increasingly clear that the company would put permanent equity financing in place at better-than-expected terms for its previously announced acquisition of CoreSite (thereby removing the “equity overhang”).

In addition, the company stepped back from a large potential deal in Europe, which would have required significant incremental funding, due to unfavorable contract terms and price. This decision further reinforced our confidence in management’s capital allocation discipline knowing that these were highly sought-after assets.”

As of Q2 2022, 52 funds held a stake in American Tower Corporation (NYSE:AMT).

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