15 Best Monthly Dividend Stocks To Buy Right Now

2. STAG Industrial, Inc. (NYSE:STAG)

Number of Hedge Fund Holders: 26

An American real estate investment trust company, STAG Industrial, Inc. (NYSE:STAG) has a diversified portfolio of industrial properties, including warehouses and light manufacturing facilities. On January 10, the company declared a 1% hike in its monthly dividend to $0.1242 per share. It is one of the best dividend stocks on our list as the company has been making regular dividend payments to shareholders since 2011. As of January 29, the stock has a dividend yield of 4.40%.

STAG Industrial, Inc. (NYSE:STAG)’s properties are leased to top-tier tenants under long-term agreements, with rents rising by an average of 2.8% annually in 2024. The growing demand for industrial real estate, fueled by the expansion of e-commerce and the shift toward reshoring manufacturing, has enabled the company to secure substantially higher rental rates as existing leases come to an end. In 2024, new and renewed leases for the same spaces are experiencing rental hikes of 30%.

In the third quarter of 2024, STAG Industrial, Inc. (NYSE:STAG) reported a revenue of $190.7 million, which showed a 6.4% increase from the same period last year. This figure surpassed analysts’ expectations by $1.82 million. The company generated $88.0 million in Cash Available for Distribution during the quarter. In addition, it acquired six properties totaling 613,839 square feet for $113.0 million, yielding a Cash Capitalization Rate of 6.7% and a Straight-Line Capitalization Rate of 7.2%. By the end of September 2024, the company achieved an overall occupancy rate of 97.1%, with the operating portfolio reaching a 97.8% occupancy rate.

The number of hedge funds tracked by Insider Monkey owning stakes in STAG Industrial, Inc. (NYSE:STAG) stood at 26 in Q3 2024, down from 28 in the previous quarter. The total value of these stakes is nearly $142 million. Alyeska Investment Group was one of the company’s leading stakeholders in Q3.