CCI - These 2 REITs Will Take Your Portfolio to New Heights
Real estate investment trusts (REITs) have gotten clobbered this year. The average one is down more than 13% on the year, weighed down by rising interest rates. However, while REITs have struggled this year, many have a bright future.
That's especially true for REITs focused on operating and developing data infrastructure. With data usage rising, the economy needs more infrastructure to support this growth. Two REITs poised to benefit from this trend are American Tower (NYSE: AMT) and Crown Castle International (NYSE: CCI) . Because of that, they could produce towering total returns in the coming years.
American Tower has delivered towering returns since converting to a REIT in 2012. The global infrastructure REIT has generated a more than 410% total return (16.8% annualized), significantly outpacing the S&P 500 's 270% (13.4% annualized) total return during that time frame. Powering those returns has been its ability to deliver above-average growth. The REIT has grown its adjusted funds from operations (AFFO) per share at a 13.8% compound annual rate since 2011. That's helped drive more than 20% annual dividend per share growth since it initiated a dividend payment in 2012.
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These 2 REITs Will Take Your Portfolio to New Heights