11 Best Stocks That Pay Monthly Dividends in 2024

7. Apple Hospitality REIT, Inc. (NYSE:APLE)

Number of Hedge Fund Holders: 19

Apple Hospitality REIT, Inc. (NYSE:APLE) is an American real estate investment trust company that operates in hotel properties across the country. On December 9, BMO Capital initiated its coverage of the stock with an Outperform rating and an $18 price target. An analyst described the company as the largest dedicated select-service lodging REIT, emphasizing its high-quality and diverse portfolio. In a research note, the firm expressed a favorable view of the company, highlighting its defensive qualities while noting its potential to benefit from improvements in revenue per available room (RevPAR).

In the third quarter of 2024, business transient demand showed gradual improvement, while leisure travel remained robust, contributing to solid operating fundamentals across the portfolio during the quarter. Comparable Hotels reported a RevPAR growth of about 1% compared to the third quarter of 2023. Preliminary figures for October indicated occupancy levels around 80%, alongside further increases in average daily rate (ADR). The company’s Q3 revenue came in at $378.8 million, up 5.75% from the same period last year. Its operating income also showed a 2% YoY growth at $77.7 million.

Apple Hospitality REIT, Inc. (NYSE:APLE) is one of the best dividend stocks on our list as the company has never missed a dividend since 2008. On December 19, the company announced a monthly dividend of 0.08 per share, which was in line with its previous dividend. In addition, it also declared a supplemental dividend of $0.05 per share. The stock’s dividend yield on December 28 came in at 6.22%.

Insider Monkey’s database of Q3 2024 indicated that 19 hedge funds held stakes in Apple Hospitality REIT, Inc. (NYSE:APLE), the same as in the previous quarter. These stakes are collectively valued at over $98.4 million. With over 3 million shares, Balyasny Asset Management was the company’s leading stakeholder in Q3.