5 Monthly Dividend Stocks with Highest Yields

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In this article, we discuss 5 monthly dividend stocks with highest yields. If you want to read our detailed analysis of dividend stocks and their performance in the current market environment, go directly to read 10 Monthly Dividend Stocks with Highest Yields

5. Ellington Residential Mortgage REIT (NYSE:EARN)

Dividend Yield as of September 14: 12.31%

Ellington Residential Mortgage REIT (NYSE:EARN) is an American real estate investment trust company that acquires and manages residential mortgages and real estate-related assets. The company was founded in 2012 and is headquartered in Connecticut.

Ellington Residential Mortgage REIT (NYSE:EARN) currently pays a monthly dividend of $0.08 per share, with a dividend yield of 12.31%, as of September 14. In Q2 2022, the company reported distributable earnings of $3.7 million or $0.28 per share. Its net interest margin came in at 1.6%. The company had $37.5 million available in cash and cash equivalents at the end of the quarter and $3.4 million in unencumbered assets. In addition to this, Ellington Residential Mortgage REIT (NYSE:EARN) repurchased 30,532 shares during the quarter, at an average share price of $6.57.

In June, Piper Sandler maintained its Overweight rating on Ellington Residential Mortgage REIT (NYSE:EARN) with a $9 price target, highlighting the company’s position in this economic condition.

At the end of June 2022, 5 hedge funds in Insider Monkey’s database owned stakes in Ellington Residential Mortgage REIT (NYSE:EARN), up from 4 in the previous quarter. These stakes hold a collective value of over $8.1 million. Jim Simons and Paul Tudor Jones were some of the company’s prominent holdings in Q2.

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