2 High-Yield Tower REITs With 10 Consecutive Years Of Dividend Growth Or More

Tower real estate investment trusts (REITs) own and operate cell towers or communication towers. These towers are critical components of wireless communication infrastructure, providing space for antennas and equipment used by mobile network operators.

Tower REITs typically generate income by leasing space on their towers to wireless carriers, telecommunications companies, and other communication service providers. The demand for tower space has increased with the growth of mobile communications, 5G technology, and the expansion of wireless networks.

Here are two tower REITs you could buy today.

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American Tower Corporation

American Tower AMT is the world's largest owner and operator of multitenant communications real estate with a portfolio of over 224,000 communications sites across the globe.

American Tower currently pays a quarterly dividend of $1.62 per share, equating to an annualized dividend of $6.48 per share, which gives its stock a yield of about 3.3% at the time of this writing.

In addition to offering investors a high yield, American Tower has shown a strong dedication to growing its dividend. It has raised its annual dividend payment every year since converting to a REIT in 2012, putting it on pace for 2024 to mark the 12th consecutive year with an increase.

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Crown Castle Inc.

Crown Castle CCI is one of the nation's leading providers of shared communications infrastructure with more than 40,000 cell towers and approximately 90,000 route miles of fiber across every major U.S. market. 

Crown Castle currently pays a quarterly dividend of $1.565 per share, equating to an annualized dividend of $6.26 per share, which gives its stock a yield of about 6.5% at the time of this writing. 

Like American Tower, Crown Castle has shown a dedication to growing its dividend for shareholders. It has raised its annual dividend payment every year since converting to a REIT in 2014, putting it on pace for 2024 to mark the 10th consecutive year with an increase.

Looking For Higher-Yield Opportunities?

The current high-interest-rate environment has created an incredible opportunity for income-seeking investors to earn massive yields, but not through dividend stocks… Certain private market real estate investments are giving retail investors the opportunity to capitalize on these high-yield opportunities and Benzinga has identified some of the most attractive options for you to consider. 

For instance, the Ascent Income Fund from EquityMultiple targets stable income from senior commercial real estate debt positions and has a historical distribution yield of 12.1% backed by real assets. With payment priority and flexible liquidity options, the Ascent Income Fund is a cornerstone investment vehicle for income-focused investors. First-time investors with EquityMultiple can now invest in the Ascent Income Fund with a reduced minimum of just $5,000.

Don't miss out on this opportunity to take advantage of high-yield investments while rates are high. Check out Benzinga's favorite high-yield offerings. 

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