10 Stocks that Pay Dividends Monthly

7. Phillips Edison & Company, Inc. (NASDAQ:PECO)

Number of Hedge Fund Holders: 14

Phillips Edison & Company, Inc. (NASDAQ:PECO) is an Ohio-based real estate investment trust company that owns and develops shopping centers throughout the US. The company reported a strong quarter of growth and leading operating metrics. Year to date, same-center NOI grew by 2.8%, Nareit FFO increased by 4.1%, and Core FFO rose by 3.7%. This sustained strength in performance is due to their focused strategy of owning right-sized, grocery-anchored neighborhood shopping centers, anchored by the top two grocers in each market, the team’s effectiveness at driving property-level results, and the benefits of operating in suburban markets. Given the continued strong operating environment and the financial health of its tenants, the company has reaffirmed its full-year 2024 earnings guidance for Nareit and Core FFO per share, projecting year-over-year growth of 6.0% and 3.0% at the midpoints, respectively. It also reaffirmed its full-year 2024 earnings guidance for same-center NOI, expecting 3.75% year-over-year growth at the midpoint.

In the second quarter of 2024, Phillips Edison & Company, Inc. (NASDAQ:PECO) reported core funds from operations (CFFO) of $80 million, which showed a 3% growth from the same period last year. As of June 30, the company’s wholly-owned portfolio comprised 286 properties, covering around 32.6 million square feet across 31 states. This marks an increase from June 30, 2023, when the portfolio included 274 properties, totaling approximately 31.4 million square feet in the same 31 states.

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend of $0.0975 per share on July 31, which was in line with its previous dividend. The company started paying dividends in 2021 and has raised its payouts every year since then, which makes PECO one of the best dividend stocks on our list. The stock’s dividend sits at 3.17%, as of August 29.

The number of hedge funds tracked by Insider Monkey owning stakes in Phillips Edison & Company, Inc. (NASDAQ:PECO) jumped to 14 in Q2 2024, from 9 in the previous quarter. These stakes have a consolidated value of nearly $92 million.