5 Best REIT Stocks To Buy Right Now

4. Equinix, Inc. (NASDAQ:EQIX)

Number of Hedge Fund Holders: 42

Next on our list of the best REIT stocks is Equinix, Inc. (NASDAQ:EQIX). It is a global digital infrastructure company that serves as a trusted platform where digital pioneers connect and integrate essential infrastructure quickly. Equinix, Inc. (NASDAQ:EQIX) empowers businesses to access key locations, partners, and opportunities, enabling scalable growth, rapid deployment of digital services, superior customer experiences, and increased value. 

On October 26, Equinix, Inc. (NASDAQ:EQIX) declared a $4.26 per share quarterly dividend, an increase of 24.9% from the previous dividend of $3.41. It is to be paid on December 13 to shareholders of record as of November 15.

According to Insider Monkey’s third quarter database, 42 hedge funds were bullish on Equinix, Inc. (NASDAQ:EQIX), compared to 44 in the prior quarter. Philippe Laffont’s Coatue Management held the top position in the company, with 629,487 shares valued at $457.17 million.

RiverPark Advisors made the following comment about Equinix, Inc. (NASDAQ:EQIX) in its Q3 2023 investor letter:

“Equinix, Inc. (NASDAQ:EQIX): EQIX, a position we have held before, is a REIT that provides a global web of network-neutral, multi-tenant data centers that allow enterprises to bring together and interconnect the infrastructure required to compete in the digital economy. The company operates 248 data centers in 32 countries and 72 markets. These data centers sit on top of the cable infrastructure and house the internet service provider equipment that connects and powers the internet.

The company charges tenants rent for colocation space, plus metered power and interconnects utilized. EQIX’s revenue growth is driven by price increases, greater cross-connect utilization, and new data center development. We believe the company can compound revenue at more than 10% a year over the next five years, and more than double Funds From Operations (FFO). We re-initiated a small position in August.”