5 Best Monthly Dividend Stocks to Buy According to Analysts

3. Ellington Financial Inc. (NYSE:EFC)

Upside Potential as of March 20: 36.20%
Average Price Target Based on Analyst Ratings: $14.75

Ellington Financial Inc. (NYSE:EFC) is an American real estate credit company that invests in a wide range of financial assets. In January, Credit Suisse maintained a Neutral rating on the stock with a $14 price target. The firm sees better total return opportunities among other mortgage REITs because of their high-than-average price-to-book multiple.

Ellington Financial Inc. (NYSE:EFC), one of the best monthly dividend stocks on our list, currently pays a per-share dividend of $0.15 every month. The stock has a dividend yield of 16.62%, as of March 20.

At the end of Q4 2022, 6 hedge funds tracked by Insider Monkey reported having stakes in Ellington Financial Inc. (NYSE:EFC), up from 5 in the previous quarter. The collective value of these stakes is nearly $13.6 million.

Follow Ellington Financial Inc. (NYSE:EFC)