15 Best Monthly Dividend Stocks To Buy Right Now

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8. Phillips Edison & Company, Inc. (NASDAQ:PECO)

Number of Hedge Fund Holders: 18

Phillips Edison & Company, Inc. (NASDAQ:PECO) is an American real estate investment trust company that owns and develops shopping centers throughout the country. The company reported strong earnings in the third quarter of 2024, with revenues amounting to $165.5 million, reflecting an 8.56% increase from the previous year and surpassing analysts’ expectations by $2.11 million. By the end of the quarter, the company held nearly $6.5 million in cash and cash equivalents, an improvement from $4.8 million at the close of December 2023. Its total assets reached approximately $5 billion, showing a slight increase from $4.8 billion at the end of the previous year.

Phillips Edison & Company, Inc. (NASDAQ:PECO) credits its continued strong performance to a focused approach of owning well-located, high-quality neighborhood shopping centers anchored by leading grocers in their respective markets. This property-level success highlights the strength of its integrated operating platform and the expertise of its experienced team. Benefiting from a solid operating environment and the stability of its tenants, the company has raised its full-year 2024 earnings forecast for Core FFO per share. In addition, it has increased its 2024 acquisitions target to a range of $275 million to $325 million, net of property sales. With ample resources and borrowing capacity, the company remains well-positioned to acquire additional assets as attractive opportunities arise.

Phillips Edison & Company, Inc. (NASDAQ:PECO) is one of the best dividend stocks on our list as the company initiated its dividend policy in 2021 and has paid regular dividends since then. It currently offers a monthly dividend of $0.1025 per share and has a dividend yield of 3.38%, as of January 29.

The number of hedge funds tracked by Insider Monkey owning stakes in Phillips Edison & Company, Inc. (NASDAQ:PECO) grew to 18 in Q3 2024, from 14 in the previous quarter. The collective value of these stakes is nearly $116 million. With nearly 1.5 million shares, Alyeska Investment Group was the company’s leading stakeholder in Q3.

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