12 Monthly Dividend Stocks with Over 5% Yield

8. LTC Properties Inc. (NYSE:LTC)

Dividend Yield as of January 14: 6.70%

LTC Properties Inc. (NYSE:LTC) is an American real estate investment trust company that invests in senior housing and healthcare facilities through sale-leasebacks. Recently, JMP Securities upgraded the stock to Market Outperform and maintained a $40 price target on the shares. According to the firm, the company’s operators have fully bounced back from the pandemic’s impact, resolving previous uncertainties about the company’s cash flow. This recovery marks an important milestone for LTC, stabilizing its financial position and enhancing its growth potential.

In the third quarter of 2024, LTC Properties Inc. (NYSE:LTC) reported revenue of $55.7 million, reflecting a 13% increase compared to the same period last year. The revenue growth was driven by income from previously transitioned portfolios, higher income from loan originations, construction loan funding in 2024, and increased rental income, though it was partially offset by lower revenue from property sales. As previously disclosed, the company allocated $26.1 million for a mortgage loan to finance the construction of a 116-unit senior living community in Illinois, which will offer independent living, assisted living, and memory care. The borrower has already invested $12.3 million in equity to begin construction, and the full loan commitment is expected to be utilized by early 2025.

LTC Properties Inc. (NYSE:LTC) had a strong quarter in terms of cash flow. By the end of September, the company held more than $35 million in cash and cash equivalents, up from $20.2 million at the end of 2023. This solid cash position has enabled the company to pay regular monthly dividends to shareholders since 2005, after having quarterly payouts since 1992. It offers a monthly dividend of $0.19 per share for a dividend yield of 6.70%, as recorded on January 14.

Insider Monkey’s database of Q3 2024 indicated that 13 hedge funds owned stakes in LTC Properties Inc. (NYSE:LTC), up from 12 in the previous quarter. These stakes have a total value of over $75 million. Among these funds, Balyasny Asset Management was the company’s leading stakeholder in Q3.