Continuing on this weekend's theme of beating volatility, here is the latest and greatest from U.S. News Invested of the best dividend stocks to be buying now. Happy Memorial Day!
InvestedAdvice, rankings and stock market news for investors. |
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TODAY'S FEATURED STOCK STORY The S&P 500 has been rising steadily in 2023 despite "big picture" risks including the debt ceiling kerfuffle, a rising interest rate environment and general fears about consumer confidence. In fact, some popular tech stocks including Nvidia Corp. (ticker: NVDA) and Meta Platforms Inc. (META) have actually doubled so far this year.
While momentum names like these have been making some nice headlines, lower-risk income investments are also worth paying attention to – including monthly dividend stocks, which pay you every 30 days or so rather than once per quarter. A select group of these stocks can provide tremendous yield on top of the potential for upside in shares if the rally continues.
The following seven stocks all offer yields that are at least twice that of the S&P 500 right now, and have a monthly distribution cycle to ensure you get a steady stream of income from your portfolio:
Agree Realty Corp. (ADC). Agree Realty is a $6 billion real estate firm that is a leading owner of retail properties, with more than 1,800 locations across all 48 continental U.S. states that span over 38 million square feet of gross leasable area. ADC took a bit of a hit during the pandemic, but since the fall of 2020 has been incredibly stable even as it has thrown off monthly dividends and provided a yield that is nearly three times that of the S&P 500. And with a focus on long-term leases that service top-tier customers like Advance Auto Parts Inc. (AAP), Dollar General Corp. (DG) and Walmart Inc. (WMT), you may find more stability in this real estate firm than in other names on this list.
Trailing dividend yield: 4.4%
AGNC Investment Corp. (AGNC). AGNC is a REIT, or real estate investment trust. Though it deals heavily in real estate assets, it doesn't own actual property and instead holds a portfolio of "agency" mortgages backed by government agencies such as Fannie Mae, Ginnie Mae and Freddie Mac. That provides some structural support for AGNC even if the lenders themselves run into trouble. Furthermore, all REITs must deliver 90% of taxable income back to shareholders, so as AGNC earns interest on the mortgages it also passes through a big share of those profits via its monthly dividends. A year or so ago, it was feared that rising rates would really put the screws to companies like AGNC that often borrow heavily to invest in this portfolio of loans, but since Jan. 1 it has been off to the races with more than 20% gains for AGNC on top of its monthly payday.
Trailing dividend yield: 16%
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DIVIDEND STOCKTRAILING DIVIDEND YIELD Agree Realty Corp. (ADC)4.4% AGNC Investment Corp. (AGNC)16% Gladstone Capital Corp. (GLAD)9.2% LTC Properties Inc. (LTC)7% SL Green Realty Corp. (SLG)15.1% U.S. Global Investors Inc. (GROW)3.3% |
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