In this article, we take a look at 5 cheap dividend stocks to buy now. If you want to see our detailed analysis of these stocks, the performance of dividend stocks, and how dividend investing works, you can skip ahead to 10 Cheap Dividend Stocks to Buy Now.
5. SFL Corporation Ltd. (NYSE:SFL)
Number of Hedge Fund Holders: 13
Dividend Yield: 7.94%
Share Price as of November 16: $9.03
SFL Corporation Ltd. (NYSE:SFL) engages in the ownership, operation, and chartering out of vessels and offshore-related assets on medium and long-term charters. The company was incorporated in 2003 and is based in Hamilton, Bermuda.
On November 11, 2021, DNB Markets analyst Mats Bye upgraded SFL Corporation Ltd. (NYSE:SFL) from a Hold rating to Buy and gave the stock a price target of $9, up from $8. SFL Corporation Ltd. (NYSE:SFL) pays an annual dividend of $0.60 per share, which brings its forward yield to 7.94%. On top of this, the stock’s annual dividend is higher than the US Marine Shipping industry average of 3.93% and the US market average of 4.24%, which is why it is one of the 10 cheap dividend stocks to buy now.
4. New Residential Investment Corp (NYSE:NRZ)
Number of Hedge Fund Holders: 16
Dividend Yield: 8.80%
Share Price as of November 16: $11.40
New Residential Investment Corp. (NYSE:NRZ), another REIT among the 10 cheap dividend stocks to buy now, focuses on investing in and managing residential mortgage-related assets in the United States. It operates through five segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, and Consumer Loans. New Residential Investment Corp. (NYSE:NRZ) was founded in 2011 and is based in New York, New York.
On September 29th, Barclays analyst Mark DeVries reinstated coverage of New Residential Investment Corp (NYSE:NRZ) and assigned it an Overweight rating with a $13 price target. The company has increased its dividend for 2 years consecutively and currently pays an annual dividend of $1.00 per share of stock, bringing its yield to 8.80%.
At Insider Monkey we track data for 867 hedge funds, out of which 16 held stakes in the company by the end of the third quarter of 2021. The total value of these stakes was $93.06 million.
Arrowstreet Capital is currently the largest stakeholder in New Residential Investment Corp. (NYSE:NRZ). As of September 30th, the fund’s stake in the company is roughly $25.5 million.
3. AGNC Investment Corp. (NASDAQ:AGNC)
Number of Hedge Fund Holders: 16
Dividend Yield: 8.96%
Share Price as of November 16: $16.02
AGNC Investment Corp. (NASDAQ:AGNC) operates as a real estate investment trust (REIT) in the United States. The company was incorporated in 2008 and is headquartered in Bethesda, Maryland. AGNC Investment Corp. (NASDAQ:AGNC) reported third-quarter earnings this September, the company reported funds from operations per share (FFO) of $0.75 and beat estimates by $0.10. The company’s quarterly revenue came out at $279 million.
On November 11, AGNC Investment Corp. (NASDAQ:AGNC) announced that its Board of Directors have declared a cash dividend of $0.12 per share of common stock for November 2021. The dividend is payable on December 9th to all shareholders of record as of November 30th.
By the end of the third quarter of 2021, 16 hedge funds held stakes in AGNC Investment Corp. (NASDAQ:AGNC). The total value of these stakes was in excess of $81.4 million.
As of September 30th, David Harding of Winton Capital Management is the largest shareholder in the company’s stock. Mr. Harding’s stake in AGNC Investment Corp. (NASDAQ:AGNC) is $3.45 million.
2. Shell Midstream Partners LP (NYSE:SHLX)
Number of Hedge Fund Holders: 6
Dividend Yield: 9.65%
Share Price as of November 16: $12.66
Shell Midstream Partners LP (NYSE:SHLX) is an oil and gas company that also has operations in transportation services. The company owns, operates, develops, and acquires pipelines and other midstream, and logistics assets in the United States. Shell Midstream Partners LP (NYSE:SHLX) was founded in 2014 and is headquartered in Houston, Texas.
This October, Barclays analyst Theresa Chen upgraded Shell Midstream Partners LP (NYSE:SHLX) to Overweight from Equal Weight and reiterated a price target of $14. The company pays an annual dividend of $1.52 per share, which brings its forward yield to 9.65%. Shell Midstream Partners’ dividend is higher than the US Oil & Gas Midstream industry average of 6.47%, which justifies its standing among the 10 cheap dividend stocks to buy now.
According to Insider Monkey’s database, 6 hedge funds held stakes in Shell Midstream Partners LP (NYSE:SHLX) by the end of the third quarter of 2021. The value of these stakes was $17.07 million.
According to the September filings, Arrowstreet Capital was the leading stakeholder in Shell Midstream Partners LP (NYSE:SHLX) as of September 30th, 2021. The stake of the hedge fund in the company was a hefty $6.38 million.
1. Annaly Capital Management, Inc. (NYSE:NLY)
Number of Hedge Fund Holders: 15
Dividend Yield: 10.26%
Share Price as of November 16: $8.54
Annaly Capital Management, Inc. (NYSE:NLY) operates as a diversified capital manager that invests in and finances residential and commercial assets. The company was founded in 1996 and is based in New York, New York. Annaly Capital Management, Inc. (NYSE:NLY) reported earnings per share of $0.28, beating estimates by $0.01, and revenues of $308.12 million in its quarterly report for the third quarter of 2021.
Annaly Capital Management, Inc. (NYSE:NLY) pays an annual dividend of $0.88 per share, which brings its yield to 10.26%. The company’s dividend is higher than the US REIT – Mortgage industry average of 8.26%, which makes it one of the 10 cheap dividend stocks to buy now.
According to Insider Monkey’s database, where we keep track of 867 elite hedge funds, Annaly Capital Management, Inc. (NYSE:NLY) was a part of 15 investment portfolios by the end of the third quarter of 2021. The total stake of these hedge funds in the company was $34.94 million.
According to the September filings, Winton Capital Management is one of the leading shareholders in Annaly Capital Management, Inc. (NYSE:NLY). The fund’s stake in the company’s stock is $2.92 million.
See also 10 Best Dividend Stocks to Buy According to Billionaire Howard Marks and 10 Best High Dividend Stocks to Buy.
