5 Best REIT Dividend Stocks

3. Crown Castle Inc. (NYSE:CCI)

Number of Hedge Fund Holders: 51

Crown Castle Inc. (NYSE:CCI) is a real estate investment trust company that provides shared communications infrastructure in the US. In March, MoffettNathanson upgraded the stock to Outperform with a $155 price target, highlighting the company’s business model.

Crown Castle Inc. (NYSE:CCI) currently pays a quarterly dividend of $1.565 per share and has a dividend yield of 4.73%, as of April 18. The company has been raising its dividends consistently for the past eight years.

The number of hedge funds tracked by Insider Monkey owning stakes in Crown Castle Inc. (NYSE:CCI) grew to 51 in Q4 2022, from 48 in the previous quarter. These stakes have a collective value of over $1.64 billion.

Carillon Tower Advisers mentioned Crown Castle Inc. (NYSE:CCI) in its Q4 2022 investor letter. Here is what the firm has to say:

“Crown Castle Inc. (NYSE:CCI) underperformed due to higher interest rates and a slightly less constructive outlook for 2023. The company is seeing some pressure from non-renewals as a result of a merger between two major telecommunications companies.”

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