In this article, we discuss 5 monthly dividend stocks with over 6% yield. You can see some more monthly dividend stocks and read our detailed discussion on dividend investing by clicking 10 Monthly Dividend Stocks with Over 6% Yield.
5. ARMOUR Residential REIT, Inc. (NYSE:ARR)
Dividend Yield as of March 9: 13.90%
Number of Hedge Fund Holders: 6
ARMOUR Residential REIT, Inc. (NYSE:ARR) is a Florida-based real estate investment trust that invests in residential mortgage-backed securities in the United States. The stock offers a dividend yield of 13.90% as of March 9.
ARMOUR Residential REIT, Inc. (NYSE:ARR) declared on February 15 a $0.10 per share monthly dividend, in line with previous. The dividend is payable on March 28, to shareholders of record on March 15.
In the fourth quarter of 2021, 6 hedge funds held long positions in ARMOUR Residential REIT, Inc. (NYSE:ARR), with stakes amounting to $113.7 million. Beach Point Capital Management is the biggest shareholder of the company, with 396,594 shares worth roughly $4 million.
4. Ellington Financial Inc. (NYSE:EFC)
Dividend Yield as of March 9: 10.20%
Number of Hedge Fund Holders: 7
Ellington Financial Inc. (NYSE:EFC) is a Connecticut-based company that invests in residential mortgage-backed securities, subprime residential mortgage loans, commercial mortgage loans, and other commercial real estate debt in the United States.
On March 7, Ellington Financial Inc. (NYSE:EFC) declared a $0.15 per share monthly dividend, in line with previous. The dividend is payable on April 25, to shareholders of record on March 31. Ellington Financial Inc. (NYSE:EFC)’s dividend yield on March 9 came in at 10.20%.
At the end of December 2021, 7 hedge funds were bullish on Ellington Financial Inc. (NYSE:EFC), as compared to 10 funds in the prior quarter. Billionaire Leon Cooperman’s Omega Advisors held the leading stake in Ellington Financial Inc. (NYSE:EFC) in Q4, with 860,000 shares valued at $14.6 million.
3. LTC Properties, Inc. (NYSE:LTC)
Dividend Yield as of March 9: 6.44%
Number of Hedge Fund Holders: 8
LTC Properties, Inc. (NYSE:LTC) is a California-based real estate investment trust that invests in seniors housing and health care properties, using structured finance solutions like sale-leasebacks, mortgage financing, joint-ventures, and mezzanine lending.
LTC Properties, Inc. (NYSE:LTC) declared on January 3 a $0.19 per share monthly dividend, in line with previous. The dividend was paid on January 31 and February 28, and the upcoming dividend is payable on March 31, for shareholders of record March 23.
Among the hedge funds tracked by Insider Monkey, 8 funds were bullish on LTC Properties, Inc. (NYSE:LTC), with total stakes worth $7.1 million, as compared to 9 funds in the preceding quarter, holding stakes in LTC Properties, Inc. (NYSE:LTC) worth $12.1 million. Hill Winds Capital held the leading position in the company, with 62,500 shares valued at $2.1 million.
2. Main Street Capital Corporation (NYSE:MAIN)
Dividend Yield as of March 9: 6.31%
Number of Hedge Fund Holders: 9
Main Street Capital Corporation (NYSE:MAIN) is based in Houston, Texas, and the private equity firm specializes in recapitalizations, management buyouts, refinancing, family estate planning, and industry consolidation. Main Street Capital Corporation (NYSE:MAIN) lends equity capital primarily to lower middle market companies.
Main Street Capital Corporation (NYSE:MAIN) closed out the last quarter of 2021 on a strong note, highlighting record investment income, according to its better than expected Q4 results. On February 24, the company’s EPS came in at $0.73, beating estimates by $0.08. The revenue increased 31.46% from the prior-year quarter, reaching $82.17 million, outperforming estimates by $9.70 million.
On February 24, Main Street Capital Corporation (NYSE:MAIN) declared a $0.215 per share monthly dividend, in line with previous. The dividend is payable on April 14, to shareholders of record on April 4. The company announced a supplemental cash dividend of $0.075 per share payable in March 2022, to shareholders of record as of March 22.
In Q4 2021, 9 hedge funds reported owning stakes in Main Street Capital Corporation (NYSE:MAIN), up from 5 funds in the preceding quarter. Millennium Management is the largest shareholder of the company, with 235,837 shares worth $10.5 million.
1. Prospect Capital Corporation (NASDAQ:PSEC)
Dividend Yield as of March 9: 8.90%
Number of Hedge Fund Holders: 9
Prospect Capital Corporation (NASDAQ:PSEC) is a New York-based business development company that specializes in mezzanine finance, leveraged buyouts, refinancing, acquisitions, recapitalizations, growth capital, collateralized loan obligations, and bridge transactions. It also makes real estate investments particularly in multi-family residential real estate properties.
On February 22, Prospect Capital Corporation (NASDAQ:PSEC) declared a $0.06 per share monthly dividend, in line with previous. The dividend will be distributed on March 22, for shareholders of record on February 24.
In its Q4 earnings report, published on February 8, Prospect Capital Corporation (NASDAQ:PSEC) posted an EPS of $0.22, beating estimates by $0.05. The $175.38 million revenue exceeded market consensus by $11.62 million.
A total of 9 hedge funds were long Prospect Capital Corporation (NASDAQ:PSEC) at the end of December 2021, up from 7 funds in the quarter earlier. Two Sigma Advisors held the biggest stake in the company, with 1.4 million shares worth $12.4 million.
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