5 Best REIT Stocks To Buy Right Now

1. American Tower Corporation (NYSE:AMT)

Number of Hedge Fund Holders: 61

American Tower Corporation (NYSE:AMT) owns and operates communication signal towers and related infrastructure around the globe. It owns 219,000 communication sites worldwide, with a large network in India, Brazil, Spain, Germany, Mexico and the United States. As the demand for wireless devices and data usage grows, American Tower Corporation (NYSE:AMT) stands to benefit as service providers expand their offerings by deploying AMT’s cell towers. The cell towers run by the REIT can be especially profitable when two or more tenants (service providers) lease out the same site.

In November 2021, American Tower Corporation (NYSE:AMT) completed the $10.1 billion acquisition of Coresite Realty, which is an operator of 25 data centers in the United States. Coresite’s interconnection-focused data center business will allow American Tower to take leadership in the 5G market.

On March 21, American Tower Corporation (NYSE:AMT) was given a ‘Buy’ rating by Citi analyst Michael Rollins, who also added the firm to Citi’s “Positive Catalyst Watch List”. The analyst sees the stock trading a sum-of-parts discount to its competitors, and sees the durability of its business model as under-appreciated in the market. He sees American Tower Corporation’s (NYSE:AMT) bid for CoreSite Realty (COR), and a rise in domestic leasing activity as potential catalysts for the REIT.

Akre Capital Management was the top shareholder of American Tower Corporation (NYSE:AMT) during the fourth quarter, with a stake worth $2.05 billion consisting of 7 million shares. 53 hedge funds were long American Tower Corporation (NYSE:AMT) in the fourth quarter, with combined holdings worth $4.75 billion.

You can also take a look at 10 Best Bank Stocks To Buy Now and 10 Best Cybersecurity Stocks To Buy Now.

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