In this article, we discuss 5 best stocks that pay monthly dividends. If you want to read our detailed analysis of dividend stocks and their performance in the past, go directly to read 10 Best Stocks That Pay Monthly Dividends.
5. STAG Industrial, Inc. (NYSE:STAG)
Dividend Yield as of August 30: 4.58%
STAG Industrial, Inc. (NYSE:STAG) is an American real estate investment trust that focuses on the acquisition and operation of industrial properties throughout the country. In July, Ladenburg lifted its price target on the stock to $35 with a Buy rating on the shares, appreciating the company’s portfolio.
In Q2 2022, STAG Industrial, Inc. (NYSE:STAG) reported revenue of $161.5 million, up 16.7% from the same period last year. The company’s cash available for distribution stood at $87.2 million, compared with $74.8 million in the prior-year period. In addition to this, its occupancy rate stood at 98.1% at the end of June 2022.
STAG Industrial, Inc. (NYSE:STAG) currently pays a monthly dividend of $0.1217 per share, with a dividend yield of 4.58%, as of August 30. The company has raised its dividends for 11 years straight.
The number of hedge funds tracked by Insider Monkey owning stakes in STAG Industrial, Inc. (NYSE:STAG) grew to 27 in Q2 2022, from 21 in the previous quarter. The collective value of these stakes is roughly $380 million. Zimmer Partners was the company’s largest stakeholder in Q2.
Carillon Tower Advisers mentioned STAG Industrial, Inc. (NYSE:STAG) in its Q1 2022 investor letter. Here is what the firm has to say:
“U.S. and around the world, and the higher inflation this cycle than in 2000. Labor inflation and general labor availability were again concerns for many companies. Supply chains eased for some goods, but remained challenged for many commodities including energy, agriculture, and fertilizer due to war and general scarcity, and also in many consumer products as semiconductors remained in short supply. Stag Industrial (NYSE:STAG), a warehouse REIT focused on rural distribution properties, fell as interest rates rose and fear of an economic slowdown gripped markets.”
4. Main Street Capital Corporation (NYSE:MAIN)
Dividend Yield as of August 30: 6.12%
Main Street Capital Corporation (NYSE:MAIN) is a Texas-based principal investment firm. At the end of Q2 2022, 5 hedge funds in Insider Monkey’s database invested in the company, down from 9 in the previous quarter. These investments are collectively valued at $19.3 million.
On August 4, Main Street Capital Corporation (NYSE:MAIN) reported its Q2 results, posting a total investment income of $85.2 million which showed a 26.6% year-over-year growth. The company had aggregate liquidity of $518.4 million while its cash and cash equivalents stood at $475 million at the end of June.
Main Street Capital Corporation (NYSE:MAIN) raised its monthly dividend by 2.31% in August to $0.22 per share. In addition to this, the company also announced an additional dividend of $0.10 per share, which marked the company’s fourth consecutive year of supplemental dividends. As of August 30, the stock’s dividend yield came in at 6.12%.
3. Cross Timbers Royalty Trust (NYSE:CRT)
Dividend Yield as of August 30: 6.99%
Cross Timbers Royalty Trust (NYSE:CRT) is a Texas-based express trust that collects and distributes monthly net profits income to unitholders.
On August 19, Cross Timbers Royalty Trust (NYSE:CRT) declared a 20.3% hike in its monthly dividend to $0.2306 per share. The company has a 4-year average dividend yield of 10.20% while its five-year dividend CAGR stands at 5.82%. As of August 30, the stock’s dividend yield was recorded at 6.99%.
2. SL Green Realty Corp. (NYSE:SLG)
Dividend Yield as of August 30: 8.37%
SL Green Realty Corp. (NYSE:SLG) is a real estate investment trust company that invests in office buildings and shopping centers in New York City. In July, Deutsche Bank set a $57 price target on the stock while maintaining a Buy rating on the shares. The firm viewed the company through the lens of rising inflation which would influence the occupancy performance.
In Q2 2022, SL Green Realty Corp. (NYSE:SLG) reported cash and cash equivalents of $189.3 million while its total assets amount to over $10.7 billion. The company’s revenue for the quarter stood at $201.4 million and its same-store office occupancy was 92%. SL Green Realty Corp. (NYSE:SLG) pays a monthly dividend of $0.3108 per share, with a dividend yield of 8.37%, as of August 30.
At the end of Q2 2022, 18 hedge funds tracked by Insider Monkey owned stakes in SL Green Realty Corp. (NYSE:SLG), the same as in the previous quarter. These stakes hold a collective value of over $120.7 million. With stakes worth over $28.7 million, LDR Capital owned the largest position in the company in Q2.
1. PermRock Royalty Trust (NYSE:PRT)
Dividend Yield as of August 30: 9.59%
PermRock Royalty Trust (NYSE:PRT) is an American statutory trust that owns oil and natural gas-producing properties.
In FY21, PermRock Royalty Trust (NYSE:PRT) reported revenue of $8.1 million, up from $3.1 million in the previous year. The company’s operating income stood at $7.3 million, compared with nearly $2 million in 2020. PermRock Royalty Trust (NYSE:PRT) pays a monthly dividend of $0.092 per share, with a dividend yield of 9.59%, as of August 30.
You can also take a look at 10 High Free Cash Flow Dividend Stocks and 15 Dividend Stocks for Passive Income
