15 Best Monthly Dividend Stocks To Buy Right Now

4. SL Green Realty Corp. (NYSE:SLG)

Number of Hedge Fund Holders: 24

SL Green Realty Corp. (NYSE:SLG) ranks fourth on our list of the best monthly dividend stocks. The American real estate investment trust company is the largest office landlord in Manhattan. The company focuses on acquiring, managing, and increasing the value of commercial properties in the area. As of December 31, 2024, SL Green owned interests in 54 properties, totaling 30.6 million square feet. This portfolio included ownership stakes in 27 million square feet of Manhattan office buildings and 2.8 million square feet in properties securing debt and preferred equity investments.

In its recently announced Q4 2024 earnings, SL Green Realty Corp. (NYSE:SLG) reported revenue of $157 million, which showed a 4% growth from the same period last year. For the fourth quarter and the full year of 2024, same-store cash net operating income (NOI), which includes the company’s share of same-store cash NOI from unconsolidated joint ventures, saw a decline of 2.7% and 1.2%, respectively, excluding lease termination income, when compared to the same periods in 2023. However, Manhattan’s same-store office occupancy improved, reaching 92.5% as of December 31, 2024, including leases that were signed but had not yet commenced.

SL Green Realty Corp. (NYSE:SLG) experienced a reduction in its dividend last year, primarily due to decreased occupancy rates during the pandemic. However, with the company’s recovery now underway, investors can be more confident in the consistency of its monthly dividend payments. In December 2024, the company announced a 3% increase in its monthly dividend, raising it to $0.2575 per share. The stock supports a dividend yield of 4.89%, as of January 29.

With a collective stake value of more than $224.6 million, 24 hedge funds held positions in SL Green Realty Corp. (NYSE:SLG) at the end of Q3 2024, according to Insider Monkey’s database. In the previous quarter, 20 funds held investments in the stock.