5 Best REIT Dividend Stocks To Buy for 2024

In this article, we discuss 5 best REIT dividend stocks to buy for 2024. If you want to read our detailed analysis of the real estate investment trust (REIT) sector and its performance over the years, go directly to read 12 Best REIT Dividend Stocks To Buy for 2024. 

5. Realty Income Corporation (NYSE:O)

Number of Hedge Fund Holders: 27

Realty Income Corporation (NYSE:O) specializes in owning and leasing commercial properties, primarily in the retail sector. The company holds a very strong dividend growth record, having raised its payouts 124 times since its IPO in 1994. It currently offers a monthly dividend of $0.257 per share and has a dividend yield of 5.92%, as of March 24.

The number of hedge funds tracked by Insider Monkey holding stakes in Realty Income Corporation (NYSE:O) grew to 27 in Q4 2023, from 23 in the previous quarter. The total value of these stakes is over $332.5 million. Among these hedge funds, Millennium Management was the company’s leading stakeholder in Q4.

4. VICI Properties Inc. (NYSE:VICI)

Number of Hedge Fund Holders: 44

VICI Properties Inc. (NYSE:VICI) is a New York-based real estate investment trust company that specializes in the acquisition and development of gaming, hospitality, and entertainment destinations. The company declared a quarterly dividend of $0.415 per share on March 7, which was consistent with its previous dividend. It has raised its payouts for six years in a row, which makes VICI one of the best dividend stocks in the REIT sector. The stock has a dividend yield of 5.76%, as of March 24.

Insider Monkey’s database of Q4 2023 indicated that 44 hedge funds held stakes in VICI Properties Inc. (NYSE:VICI), growing from 33 in the previous quarter. These stakes are collectively valued at more than $960 million. With over 8.4 million shares, Citadel Investment Group was the company’s leading stakeholder in Q4.

3. Crown Castle Inc. (NYSE:CCI)

Number of Hedge Fund Holders: 45

Crown Castle Inc. (NYSE:CCI) is next on our list of the best dividend stocks in the REIT sector. The company is one of the largest providers of communications infrastructure in the US. The company’s quarterly dividend comes in at $1.565 per share for a dividend yield of 6.09%, as of March 24.

At the end of Q4 2023, 45 hedge funds held stakes in Crown Castle Inc. (NYSE:CCI), the same as in the previous quarter, as per Insider Monkey’s database. These stakes are worth nearly $1.6 billion in total.

2. Prologis, Inc. (NYSE:PLD)

Number of Hedge Fund Holders: 46

Prologis, Inc. (NYSE:PLD) is a California-based real estate investment trust company that specializes in logistics and distribution facilities. On February 22, the company declared a 10.3% hike in its quarterly dividend to $0.96 per share. This was the company’s 11th consecutive year of dividend growth, which makes PLD one of the best dividend stocks on our list. The stock has a dividend yield of 2.99%, as of March 25.

At the end of December 2023, 46 hedge funds tracked by Insider Monkey owned stakes in Prologis, Inc. (NYSE:PLD), down from 48 in the previous quarter. These stakes have a total value of over $678 million. Among these hedge funds, AEW Capital Management was the company’s leading stakeholder in Q4.

1. American Tower Corporation (NYSE:AMT)

Number of Hedge Fund Holders: 56

An American communication-related real estate investment trust company, American Tower Corporation (NYSE:AMT) tops our list of the best dividend stocks in the REIT sector. The company pays a quarterly dividend of $1.62 per share and has a dividend yield of 3.36%, as of March 24.

As of the end of Q4 2023, 56 hedge funds in Insider Monkey’s database reported holding stakes in American Tower Corporation (NYSE:AMT), compared with 60 in the previous quarter.

You can also take a look at Billionaire Ken Fisher and Corporate Insiders Are Buying These 10 Stocks and 12 Best High-Dividend Stocks to Buy Right Now