15 Best Monthly Dividend Stocks To Buy Right Now

9. LTC Properties, Inc. (NYSE:LTC)

Number of Hedge Fund Holders: 13

LTC Properties, Inc. (NYSE:LTC) ranks ninth on our list of the best dividend stocks that pay monthly dividends. The California-based real estate investment trust company invests in senior housing and healthcare facilities through sale-leasebacks. In the third quarter of 2024, the company posted $55.7 million in revenue, marking a 13% increase from the same period a year earlier. This growth was driven by earnings from previously transitioned portfolios, higher income from loan originations, funding for construction loans in 2024, and increased rental income. However, lower revenue from property sales partially offset these gains. As previously announced, the company committed $26.1 million toward a mortgage loan to support the construction of a 116-unit senior living community in Illinois, which will include independent living, assisted living, and memory care services. The borrower has already contributed $12.3 million in equity to initiate construction, with the full loan amount expected to be utilized by early 2025.

LTC Properties, Inc. (NYSE:LTC) experienced a strong quarter in terms of cash flow. By the end of September, its cash and cash equivalents exceeded $35 million, an increase from $20.2 million at the close of 2023. This stable financial position has allowed the company to maintain consistent monthly dividend payments since 2005, following its history of quarterly distributions since 1992. Its monthly dividend comes in at $0.19 per share for a dividend yield of 6.8%, as of January 29.

JMP Securities recently upgraded LTC Properties, Inc. (NYSE:LTC) to Market Outperform while keeping a price target of $40 per share. The firm noted that the company’s operators have fully recovered from the challenges posed by the pandemic, eliminating prior concerns about cash flow. This rebound represents a key achievement for LTC, strengthening its financial stability and supporting future growth prospects.

LTC Properties, Inc. (NYSE:LTC) was included in 13 hedge fund portfolios at the end of Q3 2024, up from 12 in the previous quarter, as per Insider Monkey’s database. The stakes held by these funds are worth more than $75 million in total. Among these hedge funds, Balyasny Asset Management was the company’s largest stakeholder in Q3.