In this article, we discuss 5 best monthly dividend stocks to buy according to analysts. If you want to read our detailed analysis of dividend stocks and their performance, go directly to read 13 Best Monthly Dividend Stocks to Buy According to Analysts.
5. Apple Hospitality REIT, Inc. (NYSE:APLE)
Upside Potential as of March 20: 28.38%
Average Price Target Based on Analyst Ratings: $19.00
Apple Hospitality REIT, Inc. (NYSE:APLE) is an American real estate investment trust company, based in Virginia. In February, Wells Fargo raised its price target on the stock to $18 and maintained an Equal Weight rating on the shares, highlighting the company’s performance in the recent quarter.
On March 20, Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend of $0.08 per share, which was in line with its previous dividend. The stock has a dividend yield of 6.49%, as of March 20.
At the end of Q4 2022, 20 hedge funds tracked by Insider Monkey reported owning stakes in Apple Hospitality REIT, Inc. (NYSE:APLE), worth over $152.5 million collectively. Citadel Investment Group owned the largest stake in the company, worth over $35.6 million.
Follow Apple Hospitality Reit Inc. (NYSE:APLE)
Follow Apple Hospitality Reit Inc. (NYSE:APLE)
4. Horizon Technology Finance Corporation (NASDAQ:HRZN)
Upside Potential as of March 20: 29.55%
Average Price Target Based on Analyst Ratings: $13.94
Horizon Technology Finance Corporation (NASDAQ:HRZN) is an American venture lending platform that deals in structural debt products for tech companies. On March 15, the company declared a monthly dividend of $0.11 per share, consistent with its previous dividend. The stock has a dividend yield of 12.27%, as of March 20. It is among the best monthly dividend stocks on our list.
In the fourth quarter of 2022, Horizon Technology Finance Corporation (NASDAQ:HRZN) reported revenue of $23.1 million, which showed a 36.5% growth from the same period last year. At the end of December 2022, the company had over $27.7 million available in cash and money market funds.
Horizon Technology Finance Corporation (NASDAQ:HRZN) was a part of 6 hedge fund portfolios in Q4 2022, up from 5 in the previous quarter, as per Insider Monkey’s data. The stakes owned by these hedge funds have a total value of over $9.3 million.
Follow Horizon Technology Finance Corp (NASDAQ:HRZN)
Follow Horizon Technology Finance Corp (NASDAQ:HRZN)
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)
Follow Ellington Financial Inc. (NYSE:EFC)
2. Broadmark Realty Capital Inc. (NYSE:BRMK)
Upside Potential as of March 20: 38.8%
Average Price Target Based on Analyst Ratings: $6.00
Broadmark Realty Capital Inc. (NYSE:BRMK) is a private real estate investment firm, based in Washington, US. The company currently offers a monthly dividend of $0.035 per share and has a dividend yield of 9.72%, as of March 20.
Piper Sandler upgraded Broadmark Realty Capital Inc. (NYSE:BRMK) to Neutral in February and also lifted its price target on the stock to $6. The firm presented a positive stance on the company’s management.
At the end of Q4 2022, the number of hedge funds tracked by Insider Monkey owning stakes in Broadmark Realty Capital Inc. (NYSE:BRMK) grew to 15, from 9 in the previous quarter. These stakes have a total value of $33.4 million. With over 4.8 million shares, Farallon Capital was the company’s leading stakeholder in Q4.
Follow Broadmark Realty Capital Inc. (NYSE:BRMK)
Follow Broadmark Realty Capital Inc. (NYSE:BRMK)
1. SL Green Realty Corp. (NYSE:SLG)
Upside Potential as of March 20: 59.69%
Average Price Target Based on Analyst Ratings: $37.64
A New York-based real estate investment trust company, SL Green Realty Corp. (NYSE:SLG) tops our list of the best monthly dividend stocks on our list. The company currently pays a monthly dividend of $0.2708 per share for a dividend yield of 13.79%, as of March 20.
Baird raised its price target on SL Green Realty Corp. (NYSE:SLG) to $43 in January with a Neutral rating on the shares. The firm gave a positive stance on the company’s performance.
At the end of December 2022, 20 hedge funds tracked by Insider Monkey held investments in SL Green Realty Corp. (NYSE:SLG), worth over $137.4 million collectively. With over 1.5 million shares, Marshall Wace LLP was the company’s largest stakeholder in Q4.
Follow Sl Green Realty Corp (NYSE:SLG)
Follow Sl Green Realty Corp (NYSE:SLG)
You can also take a look at 10 Best Stocks to Buy According to Chris Hohn and 11 Most Undervalued EV Stocks to Buy
