5 Best Data Center REIT Dividend Stocks to Buy

4. Crown Castle International Corp. (REIT) (NYSE: CCI)

Number of Hedge Fund Holders: 42
Dividend Yield: 2.68%

Crown Castle International Corp. (REIT) (NYSE: CCI) is an owner and operator of over 40,000 cell towers and 80,000 route miles of fiber to support small cells and fiber solutions across US markets. The company ranks 4th on our list of the best data center REIT dividend stocks to buy.

KeyBanc holds an Overweight rating on shares of Crown Castle International Corp. (REIT) (NYSE: CCI) as of this July, and has also raised its price target on the stock from $207 to $224.

In the second quarter of 2021, Crown Castle International Corp. (REIT) (NYSE: CCI) had an FFO of $1.69, beating estimates by $0.06. The company’s revenue was $1.58 billion, up 9.93% year over year and beating estimates by $22.48 million. Crown Castle International Corp. (REIT) (NYSE: CCI) has gained 33.11% in the past 6 months and 28.06% year to date.

By the end of the second quarter of 2021, 42 hedge funds out of the 873 tracked by Insider Monkey held stakes in Crown Castle International Corp. (REIT) (NYSE: CCI) worth roughly $2.1 billion. This is compared to 43 hedge funds in the previous quarter with a total stake value of approximately $1.9 billion.