Five REITs Billionaires Are Fond Of

#3. American Tower Corp (NYSE:AMT)

– Billionaires with long positions as of March 31: 6

– Aggregate value of billionaires’ holdings as of March 31: $407.70 Million

American Tower Corp (NYSE:AMT) has also lost some appeal among the billionaires followed by our team, as the number of those bullish on the REIT fell to six from seven during the March quarter. Similarly, the total value of their holdings shrunk by 16% sequentially to $407.70 million despite a 6% gain in the value of American Tower shares. The owner, operator and developer of multitenant communications real estate has seen its market value increase by 20.2% since the start of 2016. American Tower Corp posted lower-than-expected adjusted FFO of $1.38 per share, versus the consensus estimate of $1.39, while revenue of $1.44 billion surged by 23.1% on the year and was in line with analysts’ forecasts. Moreover, the REIT also increased its full-year guidance and currently anticipated property revenue between $5.62 billion and $5.81 billion, consolidated adjusted FFO of $2.42 billion to $2.64 billion and net income between $965 million and $1.025 billion.

#2. Gaming and Leisure Properties Inc. (NASDAQ:GLPI)

– Billionaires with long positions as of March 31: 8

– Aggregate value of billionaires’ holdings as of March 31: $230.89 Million

Gaming and Leisure Properties Inc. (NASDAQ:GLPI) was a favorite stock among the billionaire money managers in the first quarter of 2016, as the number of billionaires from our database invested in the REIT spiked to eight from three during the January-March period. Meanwhile, the aggregate value of their holdings in GLPI grew to $230.89 million from a significantly lower value of $72.38 million recorded at the end of December. GLPI was created in early 2013 as a wholly-owned subsidiary of Penn National Gaming Inc. (NASDAQ:PENN) and was later spun-off to own Penn’s former real property assets. The REIT’s portfolio of assets includes 21 gaming and related facilities, most of which are leased back to Penn under long-term agreements. In July 2015, the REIT also agreed to acquire the real estate assets of Pinnacle Entertainment Inc. (NASDAQ:PNK) in an a deal valued at $4.75 billion. The stock of Gaming and Leisure Properties has gained over 27% so far this year and currently sports a dividend yield of 6.24%.

#1. Crown Castle International Corp (NYSE:CCI)

– Billionaires with long positions as of March 31: 12

– Aggregate value of billionaires’ holdings as of March 31: $1.14 Billion

Crown Castle International Corp (NYSE:CCI) also received some love from the asset managers with ten-figure fortunes tracked by Insider Monkey during the first quarter of 2016, when the number of investors bullish on the stock climbed to 12 from 10 quarter-over-quarter. Similarly, the aggregate value of their positions went up by 13% sequentially to $1.14 billion even though CCI shares were flat in the first quarter. The shares of the owner and operator of shared wireless infrastructure, which consists of roughly 40,000 towers and small cells supported by 16,500 miles of fiber, are up by nearly 12% so far in 2016. Crown Castle International posted second quarter FFO of $1.05 per share, which missed the consensus estimate of $1.16, but revenue of $962.4 million topped expectations by $13.55 million.

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