In this article, we discuss 5 monthly dividend stocks to buy in March. If you want our detailed analysis of these stocks, go directly to 10 Monthly Dividend Stocks to Buy in March.
5. Pembina Pipeline Corporation (NYSE:PBA)
Number of Hedge Fund Holders: 10
Dividend Yield as of March 7: 5.48%
Pembina Pipeline Corporation (NYSE:PBA) was incorporated in 1954 and is headquartered in Calgary, Canada, offering transportation and midstream services for the energy industry. RBC Capital analyst Robert Kwan on March 3 raised the price target on Pembina Pipeline Corporation (NYSE:PBA) to C$49 from C$48 and kept an Outperform rating on the shares.
On March 3, Pembina Pipeline Corporation (NYSE:PBA) reported a per share monthly dividend of C$0.21, in line with previous. The dividend is payable on April 14, for shareholders of record on March 25. Pembina Pipeline Corporation (NYSE:PBA)’s dividend yield on March 7 came in at 5.48%.
Pembina Pipeline Corporation (NYSE:PBA) and KKR & Co. Inc. (NYSE:KKR) announced on March 1 that they will combine their western Canadian natural gas processing assets into a single, new joint venture entity, which will be owned 60% by Pembina Pipeline Corporation (NYSE:PBA) and 40% by KKR’s global infrastructure funds.
Among the hedge funds tracked by Insider Monkey, 10 funds were bullish on Pembina Pipeline Corporation (NYSE:PBA) at the end of December 2021, up from 8 funds in the prior quarter. GLG Partners is a significant shareholder of the company, with 242,659 shares worth $7.3 million.
4. Banco Bradesco S.A. (NYSE:BBD)
Number of Hedge Fund Holders: 12
Dividend Yield as of March 7: 4.82%
Banco Bradesco S.A. (NYSE:BBD) is a Brazilian company offering banking products and services to individuals, corporate enterprises, and businesses in Brazil and internationally. Banco Bradesco S.A. (NYSE:BBD)’s dividend yield on March 7 came in at 4.82%.
Banco Bradesco S.A. (NYSE:BBD) declared a $0.003 per share monthly dividend, in line with previous. The dividend is payable on April 8, for shareholders of record on March 4.
On January 24, Barclays analyst Gilberto Garcia initiated coverage of Banco Bradesco S.A. (NYSE:BBD) with an Overweight rating and a $5 price target. The analyst called the company his sector top pick, as it has a “significant moat” from the larger weight of its insurance operations, and greater optionality down the road from asset spin-offs.
In the fourth quarter of 2021, 12 hedge funds were bullish on Banco Bradesco S.A. (NYSE:BBD), with combined stakes amounting to $1.46 billion. Fisher Asset Management is the biggest shareholder of the company, with 24.2 million shares worth $83 million.
3. SL Green Realty Corp. (NYSE:SLG)
Number of Hedge Fund Holders: 19
Dividend Yield as of March 7: 4.72%
SL Green Realty Corp. (NYSE:SLG) is a leading Manhattan-based real estate investment trust that focuses primarily on acquiring and managing commercial office properties. SL Green Realty Corp. (NYSE:SLG) is based in New York. On January 3, Deutsche Bank analyst Derek Johnston upgraded SL Green Realty Corp. (NYSE:SLG) to Buy from Hold with an $82 price target.
SL Green Realty Corp. (NYSE:SLG) on February 22 declared a $0.3108 per share monthly dividend, in line with previous. The dividend is payable on March 15, to shareholders of record on February 28.
Elite hedge funds are bullish on SL Green Realty Corp. (NYSE:SLG). In Q4 2021, 19 funds reported owning stakes worth $1.43 billion in SL Green Realty Corp. (NYSE:SLG), up from 17 funds in the prior quarter, holding stakes in SL Green Realty Corp. (NYSE:SLG) valued at $1.70 billion. Lawrence Raiman’s LDR Capital is the largest shareholder of the company, with a $43.4 million stake.
2. Agree Realty Corporation (NYSE:ADC)
Number of Hedge Fund Holders: 26
Dividend Yield as of March 7: 4.14%
Agree Realty Corporation (NYSE:ADC) is a Michigan-based real estate investment trust that is focused on the acquisition and development of properties that are leased to prominent retail tenants.
On February 14, Agree Realty Corporation (NYSE:ADC) declared a $0.227 per share monthly dividend, in line with previous. The dividend is payable on March 14, to shareholders of record on February 28. Additionally, the company’s board authorized a monthly cash dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.08854 per depositary share, payable on March 1.
Agree Realty Corporation (NYSE:ADC) on February 22 announced its Q4 results, highlighting a healthy balance sheet and strong acquisition volume. Acquisition volume for the fourth quarter was approximately $314.7 million and included 71 properties net leased to a variety of retailers.
Raymond James analyst RJ Milligan lowered the price target on Agree Realty Corporation (NYSE:ADC) to $76 from $83 but kept a Strong Buy rating on the shares on February 24, following the company’s Q4 results. The analyst believes Agree Realty Corporation (NYSE:ADC) is delivering outsized growth without taking outsized risk.
Among the hedge funds tracked by Insider Monkey, 26 funds were bullish on Agree Realty Corporation (NYSE:ADC) in Q4 2021, up from 20 funds in the quarter prior. Millennium Management is the leading stakeholder of the company, owning 1.17 million shares worth $83.5 million.
1. Realty Income Corporation (NYSE:O)
Number of Hedge Fund Holders: 30
Dividend Yield as of March 7: 4.43%
Headquartered in San Diego, California, Realty Income Corporation (NYSE:O) is a real estate investment trust that invests in properties owned under long-term lease agreements with commercial clients, which allows it to provide stakeholders with a dependable monthly income.
Realty Income Corporation (NYSE:O) declared on February 15 a $0.2465 per share monthly dividend, in line with previous. The dividend is payable on March 15, to shareholders of record on March 1. Realty Income Corporation (NYSE:O) delivers a dividend yield of 4.43% on March 7.
Mizuho analyst Vikram Malhotra lowered the price target on Realty Income Corporation (NYSE:O) to $76 from $82 and kept a Buy rating on the shares after taking over coverage of the name. The analyst downgraded his REIT sector view to Equal Weight and emphasized stock selectivity with a focus on pricing power and duration.
Among the hedge funds monitored by Insider Monkey in the fourth quarter of 2021, 30 funds were bullish on Realty Income Corporation (NYSE:O), up from 22 funds in the earlier quarter. Glendon Capital Management is the biggest shareholder of the company, with 1.85 million shares worth roughly $133 million.
You can also take a look at 10 Growth Stocks Under $50 for 2022 and 10 Best Small Cap Stocks To Buy for 2022.
