5 Monthly Dividend Stocks with Over 4% Yield

2. SL Green Realty Corp. (NYSE:SLG)

Dividend Yield as of October 7: 9.45%

SL Green Realty Corp. (NYSE:SLG) is another highest-paying monthly dividend stock on our list. The real estate investment trust pays a monthly dividend of $0.3108 per share with a dividend yield of 9.45%, as of October 7. The company has raised its dividends at a CAGR of 2.99% in the past five years. It has a payout ratio of 84.22%, which is considered healthy in the REIT sector.

In Q2 2022, SL Green Realty Corp. (NYSE:SLG) reported cash and cash equivalents of $189.3 million while its total assets amount to over $10.7 billion. The company’s revenue for the quarter stood at $201.4 million and its same-store office occupancy was 92%.

In September, Evercore ISI maintained an In-Line rating on SL Green Realty Corp. (NYSE:SLG) with a $51 price target, as the company revised its interest rates forecasts due to the current economic conditions.

At the end of Q2 2022, 18 hedge funds tracked by Insider Monkey owned stakes in SL Green Realty Corp. (NYSE:SLG), the same as in the previous quarter. These stakes hold a collective value of over $120.7 million. With stakes worth over $28.7 million, LDR Capital owned the largest position in the company in Q2.