5 Best Data Center Stocks to Invest In

3. American Tower Corporation (NYSE:AMT)

Number of Hedge Fund Holders: 50

American Tower Corporation (NYSE:AMT) has a portfolio of data centers that includes 6 edge sites spread across the U.S. and 2 metro facilities in Atlanta. The company owns Datasite and also owns CoreSite which operates 25 facilities in 8 markets. At the end of the first quarter of 2022, 50 hedge funds held stakes in American Tower Corporation (NYSE:AMT) worth $4.10 billion. American Tower Corporation’s (NYSE:AMT) portfolio of products that are contributing to the data center market, and establishing the company as a leader, justifies its inclusion in our list of the 10 best data center stocks to invest in.

Analysts are bullish on American Tower Corporation (NYSE:AMT). On June 30, Jefferies analyst Jonathan Petersen trimmed his price target on American Tower Corporation (NYSE:AMT) to $293 from $308 and reiterated a Buy rating on the shares. On July 1, KeyBanc analyst Brandon Nispel reiterated his Overweight rating on American Tower Corporation (NYSE:AMT) and lowered his price target on the shares to $283 from $286.

As of March 31, Akre Capital Management is the largest shareholder in American Tower Corporation (NYSE:AMT) and owns over 6.99 million shares. The fund’s stakes were valued at $1.75 billion, which covers 11.98% of its 13F portfolio.