In this article, we discuss the 10 best dividend stocks in Gillson Capital’s 13F portfolio.
Daniel Johnson is the founder of Gillson Capital, a Chicago-based investment management firm. He started working in the investment management industry right after he graduated from the University of Chicago and has been working in the industry for the past 20 years. Over time, he polished his investment strategies while working with some of the biggest investment firms in the country. Before founding his firm, Johnson worked as a portfolio manager at Citadel Investment Group. He also served as an investment analyst at UBS Global Asset Management from 1996 to 2004.
Gillson Capital offers portfolio management services to its consumers. Along with this, the firm also offers financial planning, investment advisory, and fund management services. Currently, Daniel Johnson is serving as a portfolio manager at Gillson Capital.
As of Q4 2021, the hedge fund’s 13F portfolio value stands at over $1.53 billion, up from $1.3 billion in the previous quarter. The fund invests heavily in the financial sector, with some investments in industrial goods, services, and technology sectors. Some of the firm’s major holdings in Q4 include JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC), and The Goldman Sachs Group, Inc. (NYSE:GS).
Photo by Nathan Dumlao on Unsplash
Our Methodology:
In this article, we will focus on the dividend stocks in Gillson Capital’s portfolio. For this list, we collected data from Gillson Capital’s 13F portfolio for the fourth quarter of 2021.
Gillson Capital Stock Portfolio: 10 Best Dividend Stocks
10. JPMorgan Chase & Co. (NYSE:JPM)
Number of Hedge Fund Holders: 107
Dividend Yield as of February 17: 2.62%
Gillson Capital’s Stake Value: $20,640,000
JPMorgan Chase & Co. is an American financial services company and an investment bank. The company is one of the latest acquisitions of Gillson Capital in Q4, as the hedge fund bought a new stake in the company worth $20.6 million.
This January, UBS set a $197 price target on JPMorgan Chase & Co., while maintaining a Buy rating on the shares. In September 2021, the company announced an 11.1% increase in its quarterly dividend at $1.00 per share, with a dividend yield of 2.62%. JPMorgan Chase & Co. maintains an 11-year track record of dividend growth.
At the end of Q4 2021, 107 hedge funds tracked by Insider Monkey held stakes in JPMorgan Chase & Co., up from 101 in the previous quarter. The total value of these stakes is over $6.5 billion, showing growth from $5.6 billion worth of stakes held by hedge funds in Q3.
Like Wells Fargo & Company and The Goldman Sachs Group, Inc., JPMorgan Chase & Co. is also one of the most notable holdings of Gillson Capital in Q4.
Giverny Capital mentioned JPMorgan Chase & Co. in its Q4 2021 investor letter. Here is what the firm has to say:
“I sold some of our JP Morgan Chase in the fourth quarter, redeploying the proceeds and a bit of available cash into M&T Bank. JP Morgan is the nation’s best giant bank and I am optimistic about its future. GCAM still owns some. But M&T has a multi-decade record of excellent results, a strong balance sheet and conservative loan loss reserves. Importantly, it is extremely sensitive to rising interest rates.
JPMorgan Chase & Co. generates income from traditional bank lending, but also from trading, investment banking and wealth management. It is the nation’s largest credit card issuer and also does business with about 80% of the Fortune 500. M&T is more oriented to commercial real estate lending and could be a major beneficiary of higher interest rates, as it has a lot of excess cash on its balance sheet and a stable core deposit base. As rates rise, it will have plenty of ability to make loans. Alternatively, M&T could buy back a lot of stock with that surplus cash.”
9. MetLife, Inc. (NYSE:MET)
Number of Hedge Fund Holders: 39
Dividend Yield as of February 17: 2.73%
Gillson Capital’s Stake Value: $40,253,000
MetLife, Inc. (NYSE:MET) is an American company that provides insurance, annuities, and employee benefit programs. In 2021, the company raised its quarterly dividend by 4.3% at $0.48 per share. The stock’s current dividend yield stands at 2.73%. MetLife, Inc. has been a dividend payer for the past 20 years while maintaining a 9-year streak of dividend growth.
Pzena Investment Management was the largest shareholder of MetLife, Inc. in Q4 2021, holding shares worth over $330 million. Overall, 36 hedge funds tracked by Insider Monkey were bullish on the company in Q4, down from 39 in the previous quarter. The total value of these stakes is over $1 billion.
MetLife, Inc. was the third-largest holding of Gillson Capital in Q4 2021. The hedge fund held a stake worth over $40.2 million in the company, which represented 2.62% of its 13F portfolio. On January 25, Jefferies appreciated the company’s stable growth and high returns and initiated its coverage on MetLife, Inc. with a Buy rating and a $74 price target.
8. Truist Financial Corporation (NYSE:TFC)
Number of Hedge Fund Holders: 37
Dividend Yield as of February 17: 3.02%
Gillson Capital’s Stake Value: $12,075,000
On January 19, UBS upgraded Truist Financial Corporation (NYSE:TFC), an American bank holding company, to Buy. The firm appreciated the company’s revenue outlook and lifted its price target on the stock to $77 from $63.
Gillson Capital started investing in Truist Financial Corporation during the fourth quarter of 2019. In Q4 2021, the hedge fund increased its position in the company by 46% and held a stake worth over $12 million. Truist Financial Corporation represented 0.78% of the hedge fund’s 13F portfolio. The company pays a quarterly dividend of $0.48 per share, increasing it by 7% in 2021. The stock’s dividend yield stands at 3.02%.
As per Insider Monkey’s Q4 data, 37 hedge funds held positions in Truist Financial Corporation, with stakes valued at roughly $228 million. In the previous quarter, 34 hedge funds held stakes in the company.
7. Kite Realty Group Trust (NYSE:KRG)
Number of Hedge Fund Holders: 19
Dividend Yield as of February 17: 3.63%
Gillson Capital’s Stake Value: $23,436,000
On February 10, Kite Realty Group Trust (NYSE:KRG), an American real estate investment trust, announced a 5% increase in its dividend, equalling a quarterly dividend of $0.20 per share, with a dividend yield of 3.63%. The company has increased its quarterly dividend multiple times since it slashed its dividend by 84% in 2020.
The number of hedge funds tracked by Insider Monkey having stakes in Kite Realty Group Trust stood at 19 in Q4, up from 14 in the preceding quarter. These stakes hold a consolidated value of over $162 million, up significantly from $55.5 million worth of stakes held by hedge funds in Q3.
Gillson Capital started building its position in Kite Realty Group Trust in Q4 2021, with shares worth over $23.4 million. The company accounted for 1.52% of the hedge fund’s 13F portfolio. As the economy reopened after the pandemic, Baird presented a positive outlook on Kite Realty Group Trust in January. The firm set a $24 price target on the stock while upgrading the shares to Outperform.
6. Huntington Bancshares Incorporated (NASDAQ:HBAN)
Number of Hedge Fund Holders: 25
Dividend Yield as of February 17: 3.87%
Gillson Capital’s Stake Value: $23,157,000
Huntington Bancshares Incorporated (NASDAQ:HBAN), an American bank holding company, saw a decline in the number of hedge funds having stakes in it. In Q4 2021, 25 hedge funds tracked by Insider Monkey reported owning stakes in the company, down from 27 in the previous quarter. These stakes are valued at roughly $403 million.
Huntington Bancshares Incorporated has been paying dividends to shareholders consecutively for the past 32 years. Though the company experienced some setbacks in the past, it managed to raise its dividend by 3% in 2021, at $0.155 per share. In Q3 2021, the payout ratio of Huntington Bancshares Incorporated stood at 68.19%, which was considered safe by analysts, considering its future dividend growth. In January, UBS initiated its coverage on Huntington Bancshares Incorporated with a Buy rating and a $21 price target.
Huntington Bancshares Incorporated was one of the recent holdings of Gillson Capital in Q4. The hedge fund held over 1.5 million shares in the company, worth over $23 million, which made up 1.5% of its 13F portfolio. Along with this, JPMorgan Chase & Co., Wells Fargo & Company, and The Goldman Sachs Group, Inc. are also some of the notable holdings of Gillson Capital.
5. Blackstone Inc. (NYSE:BX)
Number of Hedge Fund Holders: 62
Dividend Yield as of February 17: 3.98%
Gillson Capital’s Stake Value: $17,482,000
Blackstone Inc. (NYSE:BX) is an American alternative investment management company. In Q4 2021, Gillson Capital held a stake worth over $17.4 million in the company, which accounted for 1.3% of its portfolio.
On January 27, Blackstone Inc. announced a quarterly dividend of $1.45 per share, up 33% from its previous dividend. The stock’s current dividend yield stands at 3.98%. Blackstone Inc. cut its dividend in the past year but its 3-year CAGR stands at 14%, outstripping the financial sector in dividend growth. This December, appreciating the company’s retail strategies, BofA initiated its coverage on Blackstone Inc. with a Buy rating and a $183 price target.
By the end of Q4 2021, 62 hedge funds tracked by Insider Monkey held stakes in Blackstone Inc., up from 54 in the previous quarter. The consolidated value of these stakes is roughly $3.2 billion.
ClearBridge Investments mentioned Blackstone Inc. in its Q3 2021 investor letter. Here is what the firm has to say:
“During the quarter we continued to trim Blackstone as the stock made new highs. We remain enthusiastic about the company’s prospects and continue to be large shareholders, but the riskreward at current levels is balanced and we sought to manage the overall position size within the portfolio.”
4. Moelis & Company (NYSE:MC)
Number of Hedge Fund Holders: 26
Dividend Yield as of February 17: 4.71%
Gillson Capital’s Stake Value: $14,757,000
Moelis & Company is an American financial services company that provides advisory services to government and financial sponsors. In Q4 2021, Gillson Capital increased its position in the company significantly by 128% to $14.8 million worth of stakes. Moelis & Company accounted for 0.96% of Daniel Johnson’s portfolio.
At the end of Q4 2021, 26 hedge funds tracked by Insider Monkey reported owning stakes in Moelis & Company, worth roughly $200 million. In comparison, 25 hedge funds held stakes in the company in the previous quarter, valued at $147.3 million. William Heard’s Heard Capital held a stake worth over $37.4 million in the company, becoming its largest shareholder in Q4.
On October 27, Moelis & Company announced a quarterly dividend of $0.60 per share, with a special dividend of $2.50 per share. The stock’s dividend yield stands at 4.71%. Moelis & Company has been paying dividends to the shareholders for the past six years. In February, Piper Sandler set a $70 price target on the stock, while upgrading the shares to Overweight.
3. Spirit Realty Capital, Inc. (NYSE:SRC)
Number of Hedge Fund Holders: 24
Dividend Yield as of February 17: 5.41%
Gillson Capital’s Stake Value: $14,186,000
A Dallas-based real estate investment trust, Spirit Realty Capital, Inc. (NYSE:SRC) currently pays a quarterly dividend of $0.638 per share, which the company increased by 2% in 2021. The stock’s dividend yield stands at 5.41%.
In Q4 2021, Gillson Capital held a stake worth over $14 million in Spirit Realty Capital, Inc., after increasing its position in the company by 13%. The company represented 0.92% of Daniel Johnson’s portfolio. As the real estate sector outperformed the S&P 500 in 2021, Mizuho lifted its price target on Spirit Realty Capital, Inc. to $49, while maintaining a Neutral rating on the shares.
By the end of Q4 2021, 24 hedge funds tracked by Insider Monkey held a $343.7 million worth of stake in Spirit Realty Capital, Inc.. In the previous quarter, 23 hedge funds held positions in the company.
2. W. P. Carey Inc. (NYSE:WPC)
Number of Hedge Fund Holders: 20
Dividend Yield as of February 17: 5.54%
Gillson Capital’s Stake Value: $14,140,000
In January, BofA upgraded W. P. Carey Inc. (NYSE:WPC), an American real estate investment trust, to Neutral, as the sector is offering higher dividend yields and presenting earnings growth after the pandemic.
In December 2021, W. P. Carey Inc. announced a quarterly dividend of $1.055 per share, up 0.3% from the previous dividend. The stock’s current dividend yield stands at 5.54%. Moreover, W. P. Carey Inc.’s 10-year dividend CAGR stands at 7.01%, which is lauded by analysts. In Q4 2021, the company represented 0.92% of Daniel Johnson’s portfolio, as his hedge fund increased its stake in the company by 7%. Gillson Capital held shares worth over $14.1 million in W. P. Carey Inc..
Of the 927 hedge funds tracked by Insider Monkey in the fourth quarter, 20 hedge funds held stakes in W. P. Carey Inc., worth $131.5 million. In comparison, 24 hedge funds held shares in the company in the previous quarter, worth $142.7 million. Among these hedge funds, Renaissance Technologies was one of the company’s major shareholders in Q4, holding shares worth over $26 million.
1. New York Community Bancorp, Inc. (NYSE:NYCB)
Number of Hedge Fund Holders: 30
Dividend Yield as of February 17: 5.81%
Gillson Capital’s Stake Value: $32,408,000
In Q4 2021, 30 hedge funds in Insider Monkey’s database held stakes in New York Community Bancorp, Inc. (NYSE:NYCB), an American commercial bank. These stakes hold a consolidated value of roughly $456 million. Kahn Brothers was one of the company’s leading shareholders in Q4, with shares worth nearly $60 million.
New York Community Bancorp, Inc. has not increased its dividend since 2016 and currently pays a quarterly dividend of $0.17 per share. The stock’s dividend yield stands at 5.81%.
Gillson Capital started investing in New York Community Bancorp, Inc. during the fourth quarter of 2020 and has increased its stake over time. In Q4 2021, the company was the seventh-largest holding of the hedge fund and represented 2.11% of Daniel Johnson’s portfolio.
You can also take a look at 10 Best Dividend Stocks According to George Soros and 10 Best Telecom Dividend Stocks to Buy Now
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This article is originally published at Insider Monkey.
