5 Best Dividend Paying Stocks Under $50

3. STORE Capital Corporation (NYSE:STOR)

Share Price as of September 30: $31.29

STORE Capital Corporation (NYSE:STOR) is an Arizona-based real estate investment trust company that provides net lease solutions to middle market estate capital. In September, Evercore ISI initiated its coverage on the stock with an Outperform rating and also lifted the stock’s price target to $32, from $29.

In the second quarter of 2022, STORE Capital Corporation (NYSE:STOR) reported a net income of $90.5 million and its AFFO came in at $163.8 million. The company’s free cash flow for the quarter stood at $167 million, up from $160 million in the previous quarter. The revenue of $223.8 million showed a 16.6% year-over-year growth.

STORE Capital Corporation (NYSE:STOR) has been raising its dividends consistently for the past six years and has a five-year CAGR of 5.83%, which places it as one of the best dividend stocks on our list. On September 7, the company boosted its quarterly dividend by 7% to $0.41 per share. As of September 30, the company’s shares yield at 5.21%.

At the end of Q2 2022, 22 hedge funds tracked by Insider Monkey owned investments in STORE Capital Corporation (NYSE:STOR), worth $422.7 million. In the previous quarter, 24 hedge funds owned stakes in the company, with a total value of over $748.2 million.