5 Cheap Monthly Dividend Stocks to Buy Now

2. AGNC Investment Corp. (NASDAQ: AGNC)

Number of Hedge Fund Holders: 18
Dividend Yield: 8.91%

AGNC Investment Corp. (NASDAQ: AGNC) is a real estate investment trust based in the US. It invests in residential mortgage pass-through securities and collateralized mortgage obligations, funding investments through collateralized borrowings structured as repurchased agreements. It ranks 2nd on our list of cheap monthly dividend stocks to buy now.

Piper Sandler holds an Overweight rating on AGNC Investment Corp. (NASDAQ: AGNC), with an $18.50 price target as of this June.

In the first quarter of 2021, AGNC Investment Corp. (NASDAQ: AGNC) had an FFO of $0.76, beating estimates by $0.13. The company’s revenue was $528 million, up 712.31% year over year and beating estimates by $244.78 million. AGNC Investment Corp. (NASDAQ: AGNC) has also gained about 2.15% in the past 6 months and 4.81% year to date.

By the end of the first quarter of 2021, 18 hedge funds out of the 866 tracked by Insider Monkey held stakes in AGNC Investment Corp. (NASDAQ: AGNC) worth roughly $167 million. This is compared to 25 hedge funds in the previous quarter with a total stake value of approximately $353 million.