5 Boring Stocks That Make Money

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Below we present the list of 5 Boring Stocks That Make Money. For our methodology and a more comprehensive list please see the 10 Boring Stocks That Make Money.

5. Crown Castle International Corp. (NYSE:CCI)

Number of Hedge Fund Shareholders: 48

Trailing 12 Month Net Income: $1.55 billion

Crown Castle International Corp. (NYSE:CCI) owns a bunch of (about 40,000) wireless communications towers which it then leases space on to its customers. It expected to grow revenue from those operations by 6% this year, nothing too exciting, but there long-term runway for the company is solid.

While the business model may be boring, the company’s penchant for making money isn’t, as evidenced by its $1.55 billion in TTM net income. Thanks to its steady stream of cash, Crown Castle also pays out a nice little dividend to shareholders, which yields close to 5%. The company plans to raise it by 7% to 8% annually over the long term.

Crown Castle International Corp. (NYSE:CCI) is hovering around five-year highs in terms of the number of hedge funds with long positions in the company. Ken Fisher’s Fisher Asset Management owns over 2.88 million CCI shares, while the Bill and Melinda Gates Foundation Trust, which is managed by Michael Larson, owns 1.42 million shares.

The ClearBridge Investments Global Infrastructure Income Strategy likes Crown Castle International Corp. (NYSE:CCI)’s opportunity in the 5G space, as outlined in its Q1 2022 investor letter:

“U.S. communications company Crown Castle International (NYSE:CCI) was the largest detractor from quarterly performance. Crown Castle is the leading independent owner and operator of wireless communications infrastructure in the U.S. with a portfolio of approximately 40,000 towers. The stock underperformed as, driven by rising interest rates, investors rotated away from defensive into more value-oriented sectors. Communications infrastructure remains attractive, however, as companies continue to deploy greater capital spend to support the strong tailwinds from 5G.”

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