In this article, we will discuss 5 best monthly dividend stocks under $10. If you want to read our detailed analysis of dividend stocks and their performance, go directly to read 12 Monthly Dividend Stocks Under $10.
5. Ellington Residential Mortgage REIT (NYSE:EARN)
Share Price as of December 5: $7.39
Ellington Residential Mortgage REIT (NYSE:EARN) is an American real estate credit company that invests in a wide range of financial assets.
Last year, Ellington Residential Mortgage REIT (NYSE:EARN) raised its dividends twice and currently offers a monthly dividend of $0.15 per share. The stock’s dividend yield on December 5 came in at 12.99%. The company’s strong cash position makes it one of the best dividend stocks on our list.
In Q3 2022, Ellington Residential Mortgage REIT (NYSE:EARN) posted a net interest income of $36.5 million, and its adjustable distributable earnings stood at $26.5 million. The company had $175.2 million available in cash and cash equivalents with nearly $400 million in other assets.
Ellington Financial Inc. (NYSE:EFC) was a part of 5 hedge fund portfolios in Q3 2022, compared with 4 in the previous quarter. The stakes owned by these hedge funds have a total value of $11.7 million. Among these hedge funds, Renaissance Technologies owned the largest stake in the company.
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4. Superior Plus Corp. (OTC:SUUIF)
Share Price as of December 5: $7.43
Superior Plus Corp. (OTC:SUUIF) is a Canadian company that markets propane and distillates in both US and Canada. The company also produces other potassium products. It currently pays a monthly dividend of C$0.06 per share and has a dividend yield of 5.41%, as of December 5. The company has been raising its dividends consistently for the past two years.
In Q3 2022, Superior Plus Corp. (OTC:SUUIF) reported revenue of C$510 million, which showed a 40.8% growth from the prior-year period. The company’s corporate costs for the quarter were over $6.2 million, showing an increase of $5.2 million from the same period last year.
3. Prospect Capital Corporation (NASDAQ:PSEC)
Share Price as of December 5: $7.72
Prospect Capital Corporation (NASDAQ:PSEC) is a leading business development company, based in New York. The company makes debt and equity investments across the country. The company has been making consistent dividend payments for the past 63 months, which places it as one of the best dividend stocks on our list. Currently, it offers a monthly dividend of $0.06 per share with a dividend yield of 9.34%, as of December 5.
Prospect Capital Corporation (NASDAQ:PSEC) reported a total investment income of $202.6 million in fiscal Q1 2023, which showed a 19.6% growth from the same period last year. The company returned over $1.4 billion to shareholders during the quarter.
As of the close of Q3 2022, 5 hedge funds tracked by Insider Monkey owned stakes in Prospect Capital Corporation (NASDAQ:PSEC), compared with 7 in the previous quarter. The collective value of these stakes is over $10 million. Two Sigma Advisors owned the largest stake in the company in Q3.
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Follow Prospect Capital Corp (NASDAQ:PSEC)
2. Dream Industrial Real Estate Investment Trust (OTC:DREUF)
Share Price as of December 5: $9.04
Dream Industrial Real Estate Investment Trust (OTC:DREUF) is a Canada-based real estate investment trust company that manages and operates a portfolio of industrial assets. In November, RBC Capital maintained an Outperform rating on the stock with a $15.50 price target, highlighting the company’s fundamentals this year.
On November 22, Dream Industrial Real Estate Investment Trust (OTC:DREUF) declared a monthly dividend of $0.0583 per share for a dividend yield of 4.16%, as of December 5. In the past five years, the company has raised its dividends at a CAGR of 0.07%.
In Q3 2022, Dream Industrial Real Estate Investment Trust (OTC:DREUF) reported a net rental income of $72 million, up 20.6% from the same period last year. The company’s net asset value per unit came in at $17.05, which showed an 18.7% growth from the prior-year quarter. It ended the quarter with $60.1 million in cash and cash equivalents.
1. Whitestone REIT (NYSE:WSR)
Share Price as of December 5: $9.81
Whitestone REIT (NYSE:WSR) is an American real estate investment trust company that manages, redevelops, and leases high-quality neighborhood centers. The company pays a monthly dividend of $0.04 per share and has a dividend yield of 4.89%, as of December 5.
In December, Truist raised its price target on Whitestone REIT (NYSE:WSR) to $10 and maintained a Hold rating on the shares, presenting a positive stance on community real estate investment trusts.
At the end of Q3 2022, 9 hedge funds tracked by Insider Monkey owned stakes in Whitestone REIT (NYSE:WSR), with a total value of over $30.2 million. With 1.6 million shares, Highland Capital Management was the company’s leading stakeholder in Q3.
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You can also take a look at 11 Best Dividend Stocks Under $20 and 10 Best Undervalued Dividend Stocks to Buy Now
