This Dividend Stock With a Nearly 7% Yield Is a Buy After Selloff [Video]

Crown Castle has taken it on the chin in 2024: The shares of this narrow-moat REIT focusing on shared communications infrastructure have tumbled 17% this year. Although this undervalued dividend stock will remain sensitive to interest-rate movements in the short term, we’re bullish on its long-term prospects. Specifically, we’re enthusiastic about the company’s improved monetization of its fiber segment and the installation of a new CEO—and its sizable yield should appeal to dividend stock investors. Crown Castle is on our analysts’ list of the top 33 undervalued stocks this quarter.

Crown Castle has a different strategy than its two biggest competitors, which focus almost solely on towers and have a multinational footprint. Crown operates exclusively in the United States and has aggressively invested in fiber to pursue small cell communications sites. After years of disappointment and sucking up capital, the small cell business appears to be past the point of destroying value, making it much …