American Tower has increased its dividend every year since becoming a REIT in 2012. While growth has slowed in recent years, American Tower still delivered robust dividend growth. Dividend growth had gotten even slower this year.
The three here are Alexandria Real Estate Equities (NYSE: ARE), American Tower (NYSE: AMT), and Realty Income (NYSE: O). That cash flow makes them ideal for the real estate and income portion of a balanced portfolio. But that same cash flow can make them especially vulnerable to rising interest rates, since REITs have to largely borrow instead of using retained cash to finance activities like acquisition and redevelopment.
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