11 Best Stocks That Pay Monthly Dividends in 2024

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

Number of Hedge Fund Holders: 18

Phillips Edison & Company, Inc. (NASDAQ:PECO) ranks eighth on our list of the best dividend stocks that offer monthly dividends. The real estate investment trust company owns and develops shopping centers throughout the US. The company attributes its ongoing strong performance to a targeted strategy of owning well-sized, high-quality neighborhood shopping centers anchored by the top one or two grocers in their respective markets. This success at the property level reflects the effectiveness of its integrated operating platform and the expertise of its seasoned team. Supported by a robust operating environment and the stability of its tenants, the company has raised its full-year 2024 earnings guidance for Core FFO per share. In addition, the acquisitions guidance for 2024 has been increased to a range of $275 million to $325 million, net of dispositions. With sufficient resources and leverage capacity, the company remains positioned to pursue additional assets as promising opportunities emerge.

Phillips Edison & Company, Inc. (NASDAQ:PECO) generated $165.5 million in revenues in the third quarter of 2024, up 8.56% from the same period last year. The revenue also beat analysts’ estimates by $2.11 million. The company ended the quarter with nearly $6.5 million available in cash and cash equivalents, up from $4.8 million at the end of December 2023. Its total assets amounted to roughly $5 billion, up slightly from $4.8 billion at the end of December 2023.

On October 30, Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend of $0.1025 per share, having raised it by 5.1% in September this year. The company started paying dividends in 2021 and has raised its payouts every year since then. With a dividend yield of 3.26%, as of December 28, PECO is one of the best dividend stocks on our list.

The number of hedge funds tracked by Insider Monkey owning stakes in Phillips Edison & Company, Inc. (NASDAQ:PECO) grew to 18 in Q3 2024, from 14 in the previous quarter. These stakes have a consolidated value of nearly $116 million. Among these hedge funds, Alyeska Investment Group owned the largest position in the company.