Five REITs That Hedge Funds Love

– Number of Hedge Fund Holders (as of March 31): 43
– Total Value of Hedge Fund Holdings (as of March 31): $2.98 billion
– Hedge Fund Holdings as Percent of Float (as of March 31): 13.00%

With shares up 21% year-to-date, Equinix Inc (NASDAQ:EQIX) is one of the best performing REITs so far this year. Although it trades at a pricey forward valuation, investors like Equinix’s growth prospects, as demand for data centers will only increase as more of the world connects online. Equinix’s reported mixed results for its first quarter, with Adjusted Funds From Operations (AFFO) of $2.98 per share, missing by $0.25 per share. Revenue was $844.2 million, exceeding estimates by $9.02 million. The company provided stronger-than-expected Guidance, however, with full-year EBITDA expected at $1.65 billion or more versus the consensus of $1.64 billion. The stock pays a 1.93% dividend yield at the moment.

#1 Gaming and Leisure Properties Inc (NASDAQ:GLPI)

– Number of Hedge Fund Holders (as of March 31): 59
– Total Value of Hedge Fund Holdings (as of March 31): $1.32 billion
– Hedge Fund Holdings as Percent of Float (as of March 31): 36.60%

Gaming and Leisure Properties Inc (NASDAQ:GLPI) is one of only two gaming focused REITs in the United States. The company was spun-off from gaming operator Penn National in November 2013 and has steadily grown its dividend by increasing its AFFO through acquisitions. On April 29, Gaming and Leisure Properties closed on its largest acquisition of call, the $4.4 billion takeover of the real estate of Pinnacle through a spinoff. Due to the transaction, Gaming and Leisure Properties expects to raise its quarterly dividend to $0.60 per share in the third quarter from the $0.56 per share it pays now. That translates to a forward earnings yield of over 7% in the third quarter at current prices.