Indeed, one of the most successful real estate investment trusts (REITs) of all, American Tower (NYSE: AMT), is the largest owner of cellular towers in the world. As a REIT, American Tower must return most of its taxable income to shareholders as dividends, and it's done so spectacularly, building a record of paybacks that includes 44 straight quarters of dividend increases. In fact, since paying $0.21 a share in the first quarter of 2012, this REIT has raised its payout by 600% to $1.56 per share as of Q4 2022.