5 Best Monthly Dividend Stocks with High Yields

2. Ellington Financial Inc. (NYSE: EFC)

Number of Hedge Fund Holders: 6
Dividend Yield: 10.10%

Ellington Financial Inc. (NYSE: EFC) acquires and manages mortgage, consumer, corporate, and other financial assets in the US through its subsidiary company, Ellington Financial Operating Partnership LLC. It ranks 2nd on our list of the best monthly dividend stocks with high yields.

This May, BTIG raised its price target on Ellington Financial Inc. (NYSE: EFC) shares from $18.50 to $19, keeping a Buy rating on the stock. Analyst Eric Hagen also commented that there is positive momentum behind the company sourcing new loans.

In the first quarter of 2021, Ellington Financial Inc. (NYSE: EFC) had an FFO of $0.43, higher than the previous quarter’s FFO of $0.37, while its revenue was $40.08 million, also surpassing the previous quarter’s $39.07 million revenue. Ellington Financial Inc. (NYSE: EFC) has also gained 15.7% in the past 6 months and 22.12% year to date.

By the end of the first quarter of 2021, 6 hedge funds out of the 866 tracked by Insider Monkey held stakes in Ellington Financial Inc. (NYSE: EFC) worth roughly $38.6 million. This is compared to 9 hedge funds in the previous quarter with a total stake value of approximately $40.4 million.