5 Best REIT Dividend Stocks According to Hedge Funds

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1. American Tower Corporation (REIT) (NYSE: AMT)

Number of Hedge Fund Holders: 58
Dividend Yield: 1.9%

American Tower Corporation (REIT) (NYSE: AMT) is one of the world’s largest REITs and a leading independent owner and developer of multitenant communications real estate. The company ranks 1st on our list of the best REIT dividend stocks according to hedge funds.

KeyBanc analyst Brandon Nispel raised the price target on American Tower Corporation (REIT) (NYSE: AMT) shares from $285 to $302 this July, keeping an Overweight rating on the stock.

In the first quarter of 2021, American Tower Corporation (REIT) (NYSE: AMT) had an FFO of $2.48, beating estimates by $0.18. The company’s revenue was $2.16 billion, up 8.3% year over year and beating estimates by $2.92 million. American Tower Corporation (REIT) (NYSE: AMT) has also gained about 26.08% in the past 6 months and 27.91% year to date.

By the end of the first quarter of 2021, 58 hedge funds out of the 866 tracked by Insider Monkey held stakes in American Tower Corporation (REIT) (NYSE: AMT) worth roughly $4.59 billion. This is compared to 61 hedge funds in the previous quarter with stakes worth approximately $4.72 billion.

Richie Capital Group LLC, an equity-focused investment management firm, mentioned American Tower Corporation (REIT) (NYSE: AMT) in its fourth-quarter 2020 investor letter. Here’s what they said:

American Tower (AMT – Down 9.15%) – The largest operator of wireless towers has faced challenges in the form of customer churn at one of their largest customers: Sprint/T-Mobile. However, the company remains well positioned as carriers domestically and internationally transition to 5G which will require a densification of their networks.”

You can also take a peek at 10 Best Real Estate Stocks To Buy Now and 10 Best American Dividend Stocks to Invest In.

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