5 Best REIT Dividend Stocks According to Hedge Funds

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

Number of Hedge Fund Holders: 43
Dividend Yield: 2.7%

Crown Castle International Corp. (REIT) (NYSE: CCI) owns and leases over 40,000 cell towers and roughly 80,000 route miles of fiber supporting small cells and fiber solutions in major US markets. The company ranks 2nd on our list of the best REIT dividend stocks according to hedge funds.

This July, Crown Castle International Corp.’s (REIT) (NYSE: CCI) price target was raised at KeyBanc from $207 to $224, with analyst Brandon Nispel keeping an Overweight rating on the shares.

In the first quarter of 2021, Crown Castle International Corp. (REIT) (NYSE: CCI) had an FFO of $1.20, missing estimates by $0.25. The company’s revenue was $1.49 billion, up 4.5% year over year and missing estimates by $15.14 million. Crown Castle International Corp. (REIT) (NYSE: CCI) has also gained about 27.01% in the past 6 months and 30.34% year to date.

By the end of the first quarter of 2021, 43 hedge funds out of the 866 tracked by Insider Monkey held stakes in Crown Castle International Corp. (REIT) (NYSE: CCI) worth roughly $1.99 billion. This is compared to 40 hedge funds in the previous quarter with stakes worth approximately $2.07 billion.