Bill Gates’ 5 Dividend Stocks

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

Bill & Melinda Gates’ Stake Value: $992,411,000
Percent of Bill & Melinda Gates’ 13F Portfolio: 4.15%
Number of Hedge Fund Holders: 42
Dividend Yield: 3.13%

Crown Castle International Corp. (REIT) (NYSE:CCI) is an American real estate investment trust that invests in shared communications infrastructure in the U.S. The company ranks second on our list of Bill Gates’ 10 dividend stocks. 

As of Q2 2021, Gates Foundation holds over 5 million shares in Crown Castle International Corp. (REIT) (NYSE:CCI), valued at $992.4 million. The company represents 4.15% of the hedge fund’s 13F portfolio.

In Q2 2021, Crown Castle International Corp. (REIT) (NYSE:CCI) posted an FFO of $1.71, beating the estimates by $0.08. The company reported revenue of $1.58 billion, presenting a 9.7% year-over-year growth. Crown Castle International Corp. (REIT) (NYSE:CCI) pays an annual dividend of $5.32 per share to its shareholders, yielding 3.13%. The company has grown its dividend by 26.41% in the past three years.

This September, Morgan Stanley lifted its price target on Crown Castle International Corp. (REIT) (NYSE:CCI) to $213, while maintaining an ‘Overweight’ rating on the shares. The firm’s analyst expects the company to benefit from the growth in the domestic tower because of the growing 5G leasing cycle. Since the beginning of the year, Crown Castle International Corp. (REIT) (NYSE:CCI) gained 6.68%. 

As of Q2 2021, 42 hedge funds tracked by Insider Monkey have positions in Crown Castle International Corp. (REIT) (NYSE:CCI), compared with 43 in the previous quarter. These stakes are valued at over $2 billion. 

ClearBridge Investments mentioned Crown Castle International Corp. (REIT) (NYSE:CCI) in its Q2 2021 investor letter. Here is what the firm has to say: 

“Turning to the U.S., U.S. communications company Crown Castle was one of the lead performers. 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. Crown Castle performed well after the U.S. network operators announced plans to deploy 5G spectrum, with investment much larger and much sooner than the market was anticipating.”