In this article, we will be taking a look at the 5 best stocks that pay monthly dividends. To read our detailed analysis of dividend investing, you can go directly to see the 12 Best Stocks That Pay Monthly Dividends.
5. Agree Realty Corporation (NYSE: ADC)
Number of Hedge Fund Holders: 18
Dividend Yield: 3.52%
Agree Realty Corporation (NYSE: ADC), a publicly traded REIT, works to acquire and develop properties net leased to industry-leading retail tenants. The company ranks 5th on our list of the best stocks that pay monthly dividends.
This August, Mizuho’s Haendel St. Juste raised the price target on shares of Agree Realty Corporation (NYSE: ADC) from $73 to $79. The analyst also reiterated a Neutral rating on the shares.
In the second quarter of 2021, 18 hedge funds out of the 873 tracked by Insider Monkey held stakes in Agree Realty Corporation (NYSE: ADC) worth roughly $187 million. This is compared to 18 hedge funds in the previous quarter with a total stake value of approximately $200 million.
4. AGNC Investment Corp. (NASDAQ: AGNC)
Number of Hedge Fund Holders: 19
Dividend Yield: 8.71%
AGNC Investment Corp. (NASDAQ: AGNC), an American REIT, is next on our list of the best stocks that pay monthly dividends, ranking 4th. The company invests in residential mortgage pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by the US government-sponsored enterprise or by the US government agency.
By the end of the second quarter of 2021, 19 hedge funds out of the 873 tracked by Insider Monkey held stakes in AGNC Investment Corp. (NASDAQ: AGNC) worth roughly $151 million. This is compared to 18 hedge funds in the previous quarter with a total stake value of approximately $167 million.
3. SL Green Realty Corp. (NYSE: SLG)
Number of Hedge Fund Holders: 21
Dividend Yield: 5.13%
SL Green Realty Corp. (NYSE: SLG) is an S&P 500 company and is also the largest office REIT in Manhattan. The company is a fully integrated REIT, that acquires, manages, and maximizes the value of Manhattan commercial properties. It ranks 3rd on our list of the best stocks that pay monthly dividends.
Deutsche Bank holds a raised price target of $77, compared to the previous target of $66, on shares of SL Green Realty Corp. (NYSE: SLG) as of this June. The firm also has a Hold rating on the shares.
According to our data, 21 hedge funds out of the 873 tracked by Insider Monkey held stakes in SL Green Realty Corp. (NYSE: SLG) worth roughly $144 million in the second quarter of 2021.
2. Shaw Communications Inc. (NYSE: SJR)
Number of Hedge Fund Holders: 23
Dividend Yield: 3.08%
Shaw Communications Inc. (NYSE: SJR) is a telecommunications company based in Canada. It offers telephone, internet, television, and mobile services to its consumers. The company ranks 2nd on our list of the best stocks that pay monthly dividends.
More hedge funds demonstrated an interest in Shaw Communications Inc. (NYSE: SJR) in the second quarter of 2021, as 23 hedge funds out of the 873 tracked by Insider Monkey held stakes in the company in that quarter, worth roughly $697 million. This is compared to 21 hedge funds in the previous quarter with a total stake value of approximately $384 million.
1. Realty Income Corporation (NYSE: O)
Number of Hedge Fund Holders: 23
Dividend Yield: 3.95%
Realty Income Corporation (NYSE: O), yet another REIT, is next and last on our list of the best stocks that pay monthly dividends, ranking 1st. The company invests in free-standing, single-tenant, commercial properties in the US, Puerto Rico, and the UK. These properties are subject to NNN Leases.
Haendel St. Juste, an analyst at Mizuho, holds a Buy rating on shares of Realty Income Corporation (NYSE: O) as of this August. The analyst also raised his price target on Realty Income Corporation (NYSE: O) shares at the same time, from $77 to $81.
Out of 873 hedge funds tracked by Insider Monkey, 23 hedge funds held stakes in Realty Income Corporation (NYSE: O) worth roughly $221 million in the second quarter of 2021. This is compared to 18 hedge funds in the previous quarter with a total stake value of approximately $183 million.
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