5 Monthly Dividend Stocks with Over 5% Yield

2. ARMOUR Residential REIT, Inc. (NYSE:ARR)

Dividend Yield as of January 27: 13.12%

Number of Hedge Fund Holders: 6

ARMOUR Residential REIT, Inc. (NYSE:ARR) is a real estate investment trust based in Maryland, investing mainly in mortgage backed securities in the United States that are guaranteed by government-sponsored enterprises. 

On January 4, ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a $0.10 per share monthly dividend, in line with previous. The dividend is payable on January 28, to shareholders of record on January 18. ARMOUR Residential REIT, Inc. (NYSE:ARR)’s dividend yield came in at 13.12% on January 27. 

The company’s distributable earnings missed market consensus in Q3 2021, hence JonesTrading analyst Jason Stewart on October 28 downgraded ARMOUR Residential REIT, Inc. (NYSE:ARR) to Hold from Buy and removed his prior price target. With the shares effectively trading at book value per share, he sees the risk versus reward as balanced at current levels for ARMOUR Residential REIT, Inc. (NYSE:ARR). 

A total of 6 hedge funds were long ARMOUR Residential REIT, Inc. (NYSE:ARR) in the third quarter of 2021, with stakes totaling $23 million. Citadel Investment Group holds a $4.2 million position in ARMOUR Residential REIT, Inc. (NYSE:ARR) and is one of the leading stakeholders of the company.