Up to date on December 4th, 2024 by Bob CiuraSpreadsheet information up to date day by day
Month-to-month dividend shares are securities that pay a dividend each month as a substitute of quarterly or yearly.
This analysis report focuses on all 76 particular person month-to-month paying securities. It contains the next sources.
Useful resource #1: The Month-to-month Dividend Inventory Spreadsheet Listing
This checklist incorporates essential metrics, together with: dividend yields, payout ratios, dividend development charges, 52-week highs and lows, betas, and extra.
Observe: We try to keep up an correct checklist of all month-to-month dividend payers. There’s no common supply we’re conscious of for month-to-month dividend shares; we curate this checklist manually. If of any shares that pay month-to-month dividends that aren’t on our checklist, please e mail help@suredividend.com.
Useful resource #2: The Month-to-month Dividend Shares In Focus SeriesThe Month-to-month Dividend Shares In Focus sequence is the place we analyze all month-to-month paying dividend shares. This useful resource hyperlinks to stand-alone evaluation on every of those securities.
Useful resource #3: The ten Greatest Month-to-month Dividend StocksThis analysis report analyzes the ten greatest month-to-month dividend shares as ranked by anticipated whole return.
Useful resource #4: Different Month-to-month Dividend Inventory Analysis– Month-to-month dividend inventory efficiency– Why month-to-month dividends matter– The hazards of investing in month-to-month dividend shares– Remaining ideas and different earnings investing sources
The Month-to-month Dividend Shares In Focus Sequence
You’ll be able to see detailed evaluation on the person month-to-month dividend securities we cowl by clicking the hyperlinks beneath:
Agree Realty (ADC)
AGNC Funding (AGNC)
Atrium Mortgage Funding Company (AMIVF)
Apple Hospitality REIT, Inc. (APLE)
ARMOUR Residential REIT (ARR)
A&W Income Royalties Earnings Fund (AWRRF)
Banco Bradesco S.A. (BBD)
Diversified Royalty Corp. (BEVFF)
Boston Pizza Royalties Earnings Fund (BPZZF)
Bridgemarq Actual Property Companies (BREUF)
BSR Actual Property Funding Belief (BSRTF)
Canadian House Properties REIT (CDPYF)
ChemTrade Logistics Earnings Fund (CGIFF)
Alternative Properties REIT (PPRQF)
Cross Timbers Royalty Belief (CRT)
CT Actual Property Funding Belief (CTRRF)
SmartCentres Actual Property Funding Belief (CWYUF)
Dream Industrial REIT (DREUF)
Dream Workplace REIT (DRETF)
Dynex Capital (DX)
Ellington Residential Mortgage REIT (EARN)
Ellington Monetary (EFC)
EPR Properties (EPR)
Trade Earnings Company (EIFZF)
Extendicare Inc. (EXETF)
Flagship Communities REIT (MHCUF)
First Nationwide Monetary Company (FNLIF)
Freehold Royalties Ltd. (FRHLF)
Agency Capital Property Belief (FRMUF)
Fortitude Gold (FTCO)
Gladstone Capital Company (GLAD)
Gladstone Industrial Company (GOOD)
Gladstone Funding Company (GAIN)
Gladstone Land Company (LAND)
International Water Assets (GWRS)
Granite Actual Property Funding Belief (GRP.U)
H&R Actual Property Funding Belief (HRUFF)
Horizon Know-how Finance (HRZN)
Hugoton Royalty Belief (HGTXU)
Itaú Unibanco (ITUB)
The Keg Royalties Earnings Fund (KRIUF)
LTC Properties (LTC)
Sienna Senior Residing (LWSCF)
Most important Road Capital (MAIN)
Modiv Inc. (MDV)
Mullen Group Ltd. (MLLGF)
Northland Energy Inc. (NPIFF)
NorthWest Healthcare Properties REIT (NWHUF)
Orchid Island Capital (ORC)
Oxford Sq. Capital (OXSQ)
Permian Basin Royalty Belief (PBT)
Phillips Edison & Firm (PECO)
Pennant Park Floating Fee (PFLT)
Peyto Exploration & Improvement Corp. (PEYUF)
Pine Cliff Power Ltd. (PIFYF)
Primaris REIT (PMREF)
Paramount Assets Ltd. (PRMRF)
PermRock Royalty Belief (PRT)
Prospect Capital Company (PSEC)
Permianville Royalty Belief (PVL)
Pizza Pizza Royalty Corp. (PZRIF)
Realty Earnings (O)
RioCan Actual Property Funding Belief (RIOCF)
Richards Packaging Earnings Fund (RPKIF)
Sabine Royalty Belief (SBR)
Stellus Capital Funding Corp. (SCM)
Savaria Corp. (SISXF)
San Juan Basin Royalty Belief (SJT)
SL Inexperienced Realty Corp. (SLG)
Whitecap Assets Inc. (SPGYF)
Slate Grocery REIT (SRRTF)
Stag Industrial (STAG)
Timbercreek Monetary Corp. (TBCRF)
Tamarack Valley Power (TNEYF)
U.S. International Traders (GROW)
Whitestone REIT (WSR)
The ten Greatest Month-to-month Dividend Shares
This analysis report examines the ten month-to-month dividend shares from our Positive Evaluation Analysis Database with the very best 5-year ahead anticipated whole returns.
We at the moment cowl almost 80 month-to-month dividend shares each quarter within the Positive Evaluation Analysis Database.
Use the desk beneath to shortly soar to evaluation on any of the highest 10 greatest month-to-month dividend shares as ranked by anticipated whole returns.
Desk of Contents
You’ll be able to immediately soar to any particular part of the article through the use of the hyperlinks beneath:
Month-to-month Dividend Inventory #10: STAG Industrial (STAG)
5-12 months Anticipated Whole Return: 8.7%
Dividend Yield: 4.0%
STAG Industrial is an proprietor and operator of business actual property. It’s targeted on single-tenant industrial properties and has ~560 buildings throughout 41 states in america.
The main focus of this REIT on single-tenant properties would possibly create greater threat in comparison with multi-tenant properties, as the previous are both totally occupied or fully vacant.
Supply: Investor Presentation
Nevertheless, STAG Industrial executes a deep quantitative and qualitative evaluation on its tenants. Because of this, it has incurred credit score losses which were lower than 0.1% of its revenues since its IPO.
In late October, STAG Industrial reported (10/29/24) monetary outcomes for the third quarter of fiscal 2024. Core FFO per share grew 2% over the prior 12 months’s quarter, from $0.59 to $0.60, in step with the analysts’ consensus, because of the sustained power of the REIT’s tenants and hikes in hire charges.
Internet working earnings grew 5% over the prior 12 months’s quarter although the occupancy fee remained flat at 97.1%.
Click on right here to obtain our most up-to-date Positive Evaluation report on STAG Industrial Inc. (STAG) (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #9: Gladstone Land Company (LAND)
5-12 months Anticipated Whole Return: 9.4%
Dividend Yield: 4.7%
Gladstone Land Company is an actual property funding belief, or REIT, that focuses on the proudly owning and working of farmland within the U.S. The belief owns about 160 farms, comprising greater than 110,000 acres of farmable land.
Gladstone’s enterprise is made up of three totally different choices out there to farmers, all of that are accomplished on a triple-net foundation. The belief gives long-term sale leaseback transactions, conventional leases of farmland, and outright purchases of farm properties. Gladstone’s portfolio has an appraised worth of over $1.5 billion.
Gladstone posted third quarter earnings on November sixth, 2024, and outcomes have been barely higher than anticipated.
Adjusted funds-from-operations, or FFO, was $4.5 million, or 13 cents per share. That was down from $5.4 million, or 15 cents per share, within the year-ago interval.
Whole money lease revenues declined, pushed by decrease mounted base money rents, partially offset by extra participation rents.
Mounted base money rents have been down primarily from the sale of a big farm in Florida within the first quarter of this 12 months. As well as, Gladstone noticed decrease hire renewal charges on sure properties.
Money stream from operations was $1.4 million decrease year-over-year, largely on account of cost of sure money allowances for 3 particular leases.
Click on right here to obtain our most up-to-date Positive Evaluation report on LAND (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #8: Apple Hospitality REIT (APLE)
5-12 months Anticipated Whole Return: 9.8%
Dividend Yield: 5.9%
Apple Hospitality REIT is a resort REIT that owns a portfolio of lodges with tens of 1000’s of rooms positioned throughout dozens of states.
It franchises its properties out to main manufacturers, together with Marriott-branded lodges, Hilton-branded lodges, and Hyatt-branded lodges.
As of December 31, 2023, Apple Hospitality owned 225 lodges with a complete of 29,900 visitor rooms throughout 88 markets in 38 states.
Supply: Investor Presentation
Apple Hospitality REIT, Inc. (APLE) reported its second-quarter 2024 monetary outcomes, demonstrating stable efficiency throughout key metrics.
The corporate posted earnings per share (EPS) of $0.31, beating estimates by $0.01, and generated income of $390.08 million, representing a 7.87% year-over-year enhance and surpassing expectations by $2.57 million.
For the second quarter, Apple Hospitality recorded internet earnings of $73.9 million, a rise of 13.2% in comparison with the identical interval in 2023, with a internet earnings per share of $0.31, up 6.9%.
The corporate’s working earnings for Q2 was $93.5 million, up 12.6%, and the working margin improved by 100 foundation factors to 24%.
Click on right here to obtain our most up-to-date Positive Evaluation report on APLE (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #7: Ellington Monetary (EFC)
5-12 months Anticipated Whole Return: 9.8%
Dividend Yield: 12.7%
Ellington Monetary Inc. acquires and manages mortgage, shopper, company, and different associated monetary property within the United States.
The corporate acquires and manages residential mortgage–backed securities (RMBS) backed by prime jumbo, Alt–A, manufactured housing, and subprime residential mortgage loans.
Supply: Investor Presentation
Moreover, it manages RMBS, for which the U.S. authorities ensures the principal and curiosity funds. It additionally gives collateralized mortgage obligations, mortgage–associated and non–mortgage–associated derivatives, fairness investments in mortgage originators and different strategic investments.
On November sixth, 2024, Ellington Monetary reported its Q3 outcomes for the interval ending September thirtieth, 2024. Because of the nature firm’s enterprise mannequin, Ellington doesn’t report any revenues. As an alternative, it information solely earnings. For the quarter, gross curiosity earnings got here in at $101.7 million, up 2.5% quarter-over-quarter.
Adjusted (beforehand known as “core”) EPS got here in at $0.40, seven cents greater versus Q2-2024. The rise was pushed partly by a sizeable contribution from Ellington’s proprietary reverse mortgage technique, offset by the next share rely. Ellington’s e book worth per share fell from $13.92 to $13.66 over the last three months.
Click on right here to obtain our most up-to-date Positive Evaluation report on Ellington Monetary (EFC) (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #6: AGNC Funding Corp. (AGNC)
5-12 months Anticipated Whole Return: 11.0%
Dividend Yield: 15.2%
American Capital Company Corp is a mortgage actual property funding belief that invests primarily in company mortgage–backed securities (or MBS) on a leveraged foundation.
The agency’s asset portfolio is comprised of residential mortgage cross–by securities, collateralized mortgage obligations (or CMO), and non–company MBS. Many of those are assured by authorities–sponsored enterprises.
AGNC Funding Corp. reported robust monetary outcomes for the third quarter ended September 30, 2024. The corporate achieved a complete earnings of $0.63 per frequent share, pushed by a internet earnings of $0.39 and different complete earnings of $0.24 from marked-to-market investments.
Internet unfold and greenback roll earnings contributed $0.43 per share. The tangible internet e book worth elevated by $0.42 per share to $8.82, reflecting a 5.0% development from the earlier quarter.
AGNC declared dividends of $0.36 per share, leading to a 9.3% financial return on tangible frequent fairness, which incorporates each dividends and the rise in internet e book worth.
Click on right here to obtain our most up-to-date Positive Evaluation report on AGNC Funding Corp (AGNC) (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #5: EPR Properties (EPR)
5-12 months Anticipated Whole Return: 11.1%
Dividend Yield: 7.6%
EPR Properties is a specialty actual property funding belief, or REIT, that invests in properties in particular market segments that require trade data to function successfully.
It selects properties it believes have robust return potential in Leisure, Recreation, and Schooling. The portfolio contains about $7 billion in investments throughout 350+ places in 44 states, together with over 200 tenants.
Supply: Investor Presentation
EPR posted third quarter earnings on October thirtieth, 2024, and outcomes have been higher than anticipated on each the highest and backside traces. Funds-from-operations got here to $1.29, which was two cents forward of estimates. FFO was down from $1.47 per share a 12 months in the past. On a greenback foundation, FFO fell from $113 million to simply over $100 million.
Income was off virtually 5% year-over-year to $180.5 million, which was $21.5 million forward of expectations. For the 9 months, income was off from $534 million to $521 million.
Click on right here to obtain our most up-to-date Positive Evaluation report on EPR (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #4: Oxford Sq. Capital (OXSQ)
5-12 months Anticipated Whole Return: 11.5%
Dividend Yield: 15.9%
Oxford Sq. Capital Corp. is a BDC specializing in financing early and center–stage companies by loans and CLOs.
The firm holds an equally break up portfolio of First–Lien, Second–Lien, and CLO fairness assets unfold throughout a number of industries, with the very best publicity in software program and enterprise companies.
Supply: Investor Presentation
On November fifth, 2024, Oxford Sq. reported its Q3 outcomes for the interval ending September thirtieth, 2024. For the quarter, the corporate generated about $10.3 million of whole funding earnings, down from $11.4 million within the earlier quarter.
This was on account of decrease curiosity earnings from its debt investments and decrease earnings from its securitization automobiles.
Additional, the weighted common yield of the corporate’s debt investments was 13.7% at present value, down from 13.9% within the earlier quarter.
Nonetheless, the weighted common money distribution yield of the corporate’s money earnings producing CLO fairness investments at present rose notably from 13.7% to 14.5%.
Click on right here to obtain our most up-to-date Positive Evaluation report on OXSQ (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #3: Horizon Know-how Finance (HRZN)
5-12 months Anticipated Whole Return: 14.0%
Dividend Yield: 14.1%
Horizon Know-how Finance Corp. is a BDC that gives enterprise capital to small and medium–sized firms within the know-how, life sciences, and healthcare–IT sectors.
The corporate has generated engaging threat–adjusted returns by instantly originated senior secured loans and extra capital appreciation by warrants.
Supply: Investor Presentation
On October twenty ninth, 2024, Horizon launched its Q3 outcomes for the interval ending September thirtieth, 2024. For the quarter, whole funding earnings fell 15.5% year-over-year to $24.6.7 million, primarily on account of decrease curiosity earnings on investments from the debt funding portfolio.
Extra particularly, the corporate’s dollar-weighted annualized yield on common debt investments in Q3 of 2024 and Q3 of 2023 was 15.9% and 17.1%, respectively.
Internet funding earnings per share (IIS) fell to $0.32, down from $0.53 in comparison with Q3-2023. Internet asset worth (NAV) per share landed at $9.06, down from $9.12 sequentially.
After paying its month-to-month distributions, Horizon’s undistributed spillover earnings as of June thirtieth, 2024 was $1.27 per share, indicating a substantial money cushion.
Click on right here to obtain our most up-to-date Positive Evaluation report on HRZN (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #2: Ellington Credit score Co. (EARN)
5-12 months Anticipated Whole Return: 15.7%
Dividend Yield: 14.3%
Ellington Credit score Co. acquires, invests in, and manages residential mortgage and actual property associated property. Ellington focuses totally on residential mortgage-backed securities, particularly these backed by a U.S. Authorities company or U.S. authorities–sponsored enterprise.
Company MBS are created and backed by authorities businesses or enterprises, whereas non-agency MBS are not assured by the federal government.
On November twelfth, 2024, Ellington Residential reported its third quarter outcomes for the interval ending September thirtieth, 2024. The corporate generated internet earnings of $5.4 million, or $0.21 per share.
Ellington achieved adjusted distributable earnings of $7.2 million within the quarter, resulting in adjusted earnings of $0.28 per share, which coated the dividend paid within the interval.
Internet curiosity margin was 5.22% general. At quarter finish, Ellington had $25.7 million of money and money equivalents, and $96 million of different unencumbered property.
Click on right here to obtain our most up-to-date Positive Evaluation report on EARN (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #1: Itau Unibanco (ITUB)
5-12 months Anticipated Whole Return: 17.7%
Dividend Yield: 9.5%
Itaú Unibanco Holding S.A. is headquartered in Sao Paulo, Brazil. The financial institution has operations throughout South America and different locations like america, Portugal, Switzerland, China, Japan, and so forth.
On November fifth, 2024, Itaú Unibanco reported third-quarter outcomes for 2024. The corporate reported recurring managerial outcome for the third quarter of 2024 was roughly $2.1 billion USD, reflecting a 6.0% enhance from the earlier quarter.
The recurring managerial return on fairness stood at 22.7% on a consolidated foundation and 23.8% for operations in Brazil. Whole property grew by 2.6%, surpassing $590 billion USD, whereas the mortgage portfolio elevated by 1.9% globally and a couple of.1% in Brazil for the quarter, with year-on-year development charges of 9.9% and 10.0%, respectively.
Key drivers included private, automobile, and mortgage loans, which noticed quarterly development charges of three.1%, 3.0%, and three.9%, respectively.
Click on right here to obtain our most up-to-date Positive Evaluation report on ITUB (preview of web page 1 of three proven beneath):
Different Month-to-month Dividend Inventory Assets
Every separate month-to-month dividend inventory has its personal distinctive traits. The sources beneath provides you with a greater understanding of month-to-month dividend inventory investing.
The next analysis studies will provide help to generate extra month-to-month dividend inventory funding concepts.
Month-to-month Dividend Inventory PerformanceIn November 2024, a basket of the month-to-month dividend shares above generated whole returns of three.2%. For comparability, the Russell 2000 ETF (IWM) generated returns of 11.1% for the month.
Notes: Information for efficiency is from Ycharts. Canadian firm efficiency could also be within the firm’s dwelling foreign money.
Month-to-month dividend shares under-performed the Russell 2000 final month. We are going to replace our efficiency part month-to-month to trace future month-to-month dividend inventory returns.
In November 2024, the three best-performing month-to-month dividend shares (together with dividends) have been:
Financial institution Bradesco (BBD), up 13.6%
Itau Unibanco (ITUB) , up 11.4%
Dream Workplace REIT (DRETF), up 9.7%
The three worst-performing month-to-month dividend shares (together with dividends) within the month have been:
Gladstone Capital (GLAD), down 15.8%
Paramount Assets (PRMRF), down 17.3%
Permian Basin Royalty Belief (PBT), down 25.7%
Why Month-to-month Dividends MatterMonthly dividend funds are helpful for one group of traders particularly; retirees who depend on dividend shares for earnings.
With that stated, month-to-month dividend shares are higher below all circumstances (every little thing else being equal), as a result of they permit for returns to be compounded on a extra frequent foundation. Extra frequent compounding leads to higher whole returns, significantly over lengthy intervals of time.
Think about the next efficiency comparability:
Over the long term, month-to-month compounding generates barely greater returns over quarterly compounding. Each little bit helps.
With that stated, it may not be sensible to manually re-invest dividend funds on a month-to-month foundation. It’s extra possible to mix month-to-month dividend shares with a dividend reinvestment plan to greenback value common into your favourite dividend shares.
The final advantage of month-to-month dividend shares is that they permit traders to have – on common – extra cash available to make opportunistic purchases. A month-to-month dividend cost is extra more likely to put money in your account once you want it versus a quarterly dividend.
Case-in-point: Traders who purchased a broad basket of shares on the backside of the 2008-2009 monetary disaster are probably sitting on triple-digit whole returns from these purchases in the present day.
The Risks of Investing In Month-to-month Dividend StocksMonthly dividend shares have traits that make them interesting to do-it-yourself traders in search of a gradual stream of earnings. Sometimes, these are retirees and other people planning for retirement.
Traders ought to observe many month-to-month dividend shares are extremely speculative. On common, month-to-month dividend shares are likely to have elevated payout ratios. An elevated payout ratio means there’s much less margin for error to proceed paying the dividend if enterprise outcomes undergo a short lived (or everlasting) decline.
Because of this, we’ve actual considerations that many month-to-month dividend payers will be unable to proceed paying rising dividends within the occasion of a recession.
Moreover, a excessive payout ratio implies that an organization is retaining little cash to take a position for future development. This will lead administration groups to aggressively leverage their steadiness sheet, fueling development with debt. Excessive debt and a excessive payout ratio is probably probably the most harmful mixture round for a possible future dividend discount.
With that stated, there are a handful of high-quality month-to-month dividend payers round. Chief amongst them is Realty Earnings (O). Realty Earnings has paid rising dividends (on an annual foundation) yearly since 1994.
The Realty Earnings instance exhibits that there are high-quality month-to-month dividend payers round, however they’re the exception quite than the norm. We recommend traders do ample due diligence earlier than shopping for into any month-to-month dividend payer.
Remaining Ideas & Different Earnings Investing Assets
Monetary freedom is achieved when your passive funding earnings exceeds your bills. However the sequence and timing of your passive earnings funding funds can matter.
Month-to-month funds make matching portfolio earnings with bills simpler. Most private bills recur month-to-month whereas most dividend shares pay quarterly. Investing in month-to-month dividend shares matches the frequency of portfolio earnings funds with the traditional frequency of private bills.
Moreover, many month-to-month dividend payers provide traders excessive yields. The mixture of a month-to-month dividend cost and a excessive yield needs to be particularly interesting to earnings traders.
However not all month-to-month dividend payers provide the security that earnings traders want. A month-to-month dividend is healthier than a quarterly dividend, however not if that month-to-month dividend is decreased quickly after you make investments. The excessive payout ratios and shorter histories of most month-to-month dividend securities imply they have a tendency to have elevated threat ranges.
Due to this, we advise traders to search for high-quality month-to-month dividend payers with affordable payout ratios, buying and selling at honest or higher costs.
Moreover, see the sources beneath for extra compelling funding concepts for dividend development shares and/or high-yield funding securities.
Thanks for studying this text. Please ship any suggestions, corrections, or inquiries to help@suredividend.com.
