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Most companies typically pay dividends every quarter, but a few exceptional stocks offer monthly payouts. These monthly dividend stocks provide a consistent stream of cash, which can be especially useful for boosting your income and meeting expenses.
Another key benefit of monthly dividends is the ability to reinvest more often. By reinvesting those dividends into additional shares, you can take advantage of compounding. Over time, this reinvestment strategy can significantly grow your capital as each new share increases your potential future earnings.
Against this background, Main Street Capital Corporation and Realty Income stand out for their solid monthly dividend payouts and attractive yields. Let’s examine the factors enabling these dividend stocks to generate steady cash all year round.
Main Street Capital Stock
Main Street Capital is a well-established investment firm specializing in customized debt and equity financing for lower middle market (LMM) companies and offering debt capital to middle market businesses. The company's focus on LMM investments and efficient operating structure provides a strong foundation for growth, allowing it to consistently pay monthly dividends.
Main Street’s investment strategy prioritizes capital preservation, while generating high recurring income and providing opportunities for capital appreciation. What sets Main Street apart is its investments' low correlation to broader debt and equity markets, which offers attractive risk-adjusted returns for investors. This means that Main Street’s portfolio tends to be more resilient to market fluctuations, making it an appealing option for those seeking stability.
The company has an impressive track record of dividend payments. Since Q4 2007, it has increased its monthly dividend payouts by 123%, from $0.33 per share to $0.745 per share in Q4 2024 (regular and supplementary). Even during challenging times, such as the 2008-2009 financial crisis and the COVID-19 pandemic, Main Street never reduced its regular monthly dividends. It has also paid out $6.34 per share in supplemental dividends since its 2007 IPO.
Looking ahead, Main Street’s multifaceted investment strategy will likely support dividend growth through various market cycles. Its LMM investment portfolio is well-diversified, consisting of secured debt and lower-cost equity investments. Additionally, the company’s private loan and middle market portfolios provide further diversification, enhancing income sources and complementing the LMM investments.
Further, Main Street’s internally managed structure provides operating leverage, consistently driving up distributable net investment income (DNII) per share, which ultimately boosts its payouts.
Main Street Capital stock currently offers a yield of over 8.20%, making it an attractive option for income-seeking investors. Analysts have given MAIN a “Moderate Buy” rating.
Realty Income Stock
As a real estate investment trust (REIT), Realty Income operates in diversified commercial real estate sectors in the U.S., the UK, and Europe. What truly sets Realty Income apart is its consistent monthly dividend payouts, which earned it the nickname “The Monthly Dividend Company.”
In its latest move, Realty Income raised its monthly dividend to $0.2635 per share, up from $0.2630. While this might seem like a slight increase, it’s important to note that this marks the company’s 127th dividend hike since it went public in 1994. Even more impressive, Realty Income has increased its dividend for the past 30 consecutive years and has declared 651 consecutive monthly dividends, establishing the company as a Dividend Aristocrat.
The new dividend amounts to an annual payout of $3.162 per share, reflecting a yield of about 5%.
The company’s payouts are supported by long-term leases on its properties, which provide a reliable revenue source to cover its distributions. Realty Income’s strong balance sheet and conservative capital structure gives the company flexibility in managing its portfolio, while its diverse range of properties ensures stability and growth.
The company has also expanded into promising areas like gaming and data centers, where long-term leases often come with annual rent increases. This diversification positions Realty Income for future growth, especially as the demand for data centers continues to rise.
Realty Income’s portfolio continues to perform exceptionally well. Occupancy rates reached 98.8% during the last reported quarter, up slightly from the previous quarter. The size and diversity of Realty Income’s global real estate portfolio, along with its consistent performance, have provided reliable revenue streams for decades.
O stock has a “Moderate Buy” consensus rating from Wall Street analysts. While it’s not the highest-rated stock, its dependability and consistent monthly dividend payouts make it an attractive option for income-focused investors.
On the date of publication, Amit Singh did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
Realty Income Corp. (O) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Over the past month, shares of this real estate investment trust have returned +4.4%, compared to the Zacks S&P 500 composite's +3.7% change. During this period, the Zacks REIT and Equity Trust - Retail industry, which Realty Income Corp. falls in, has gained 6%. The key question now is: What could be the stock's future direction?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings Estimates
Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
Realty Income Corp. is expected to post earnings of $0.98 per share for the current quarter, representing a year-over-year change of -3.9%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.9%.
For the current fiscal year, the consensus earnings estimate of $4.22 points to a change of +5.5% from the prior year. Over the last 30 days, this estimate has changed +2.1%.
For the next fiscal year, the consensus earnings estimate of $4.09 indicates a change of -3% from what Realty Income Corp. is expected to report a year ago. Over the past month, the estimate has changed +0.7%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Realty Income Corp.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue Growth
Even though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
In the case of Realty Income Corp. the consensus sales estimate of $1.34 billion for the current quarter points to a year-over-year change of +29.2%. The $5.29 billion and $5.56 billion estimates for the current and next fiscal years indicate changes of +29.8% and +4.9%, respectively.
Last Reported Results and Surprise History
Realty Income Corp. reported revenues of $1.34 billion in the last reported quarter, representing a year-over-year change of +31.4%. EPS of $0.29 for the same period compares with $1 a year ago.
Compared to the Zacks Consensus Estimate of $1.31 billion, the reported revenues represent a surprise of +2.42%. The EPS surprise was +0.95%.
Over the last four quarters, Realty Income Corp. surpassed consensus EPS estimates two times. The company topped consensus revenue estimates each time over this period.
Valuation
Without considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Realty Income Corp. is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Conclusion
The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Realty Income Corp. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Zacks Investment Research
The SPDR S&P Dividend ETF (SDY) was launched on 11/08/2005, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - Large Cap Value category of the market.
What Are Smart Beta ETFs?
For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader market or a particular market segment.
Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.
On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest in another class of funds that track non-cap weighted strategies--popularly known as smart beta.
Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance.
Even though this space provides many choices to investors--think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting--not all have been able to deliver first-rate results.
Fund Sponsor & Index
Managed by State Street Global Advisors, SDY has amassed assets over $21.38 billion, making it one of the largest ETFs in the Style Box - Large Cap Value. This particular fund seeks to match the performance of the S&P High Yield Dividend Aristocrats Index before fees and expenses.
The S&P High Yield Dividend Aristocrats Index measures the performance of the highest dividend yielding S&P Composite 1500 Index constituents that have followed a managed-dividends policy of consistently increasing dividends every year for at least 20 consecutive years.
Cost & Other Expenses
For ETF investors, expense ratios are an important factor when considering a fund's return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.
Annual operating expenses for SDY are 0.35%, which makes it on par with most peer products in the space.
It's 12-month trailing dividend yield comes in at 2.38%.
Sector Exposure and Top Holdings
ETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
This ETF has heaviest allocation in the Consumer Staples sector - about 18.90% of the portfolio. Industrials and Utilities round out the top three.
When you look at individual holdings, Realty Income Corp (O) accounts for about 2.86% of the fund's total assets, followed by Kenvue Inc (KVUE) and Intl Business Machines Corp (IBM).
SDY's top 10 holdings account for about 19.25% of its total assets under management.
Performance and Risk
The ETF has gained about 13.51% so far this year and is up about 19.51% in the last one year (as of 09/16/2024). In the past 52-week period, it has traded between $110.20 and $140.29.
The ETF has a beta of 0.86 and standard deviation of 14.68% for the trailing three-year period, making it a medium risk choice in the space. With about 136 holdings, it effectively diversifies company-specific risk.
Alternatives
SPDR S&P Dividend ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
Schwab U.S. Dividend Equity ETF (SCHD) tracks Dow Jones U.S. Dividend 100 Index and the Vanguard Value ETF (VTV) tracks CRSP U.S. Large Cap Value Index. Schwab U.S. Dividend Equity ETF has $60.01 billion in assets, Vanguard Value ETF has $125.50 billion. SCHD has an expense ratio of 0.06% and VTV charges 0.04%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Value.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Zacks Investment Research
Main Street Capital (MAIN) ended the recent trading session at $49.95, demonstrating a +0.95% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.54%. Elsewhere, the Dow gained 0.72%, while the tech-heavy Nasdaq added 0.65%.
Shares of the investment firm have appreciated by 0.47% over the course of the past month, underperforming the Finance sector's gain of 4.89% and the S&P 500's gain of 4.86%.
The investment community will be paying close attention to the earnings performance of Main Street Capital in its upcoming release. The company is forecasted to report an EPS of $1.02, showcasing a 1.92% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $137.64 million, up 11.69% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $4.13 per share and a revenue of $543.87 million, demonstrating changes of -5.28% and +8.69%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Main Street Capital. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Main Street Capital possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Main Street Capital currently has a Forward P/E ratio of 11.98. For comparison, its industry has an average Forward P/E of 7.97, which means Main Street Capital is trading at a premium to the group.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. With its current Zacks Industry Rank of 179, this industry ranks in the bottom 30% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Investment Research
Reporter Name | Preusse Mary Hogan |
Relationship | Director |
Type | Sell |
Amount | $107,128 |
SEC Filing | Form 4 |
Realty Income Corp Director, Mary Hogan Preusse, sold 1,712 shares of common stock on September 11, 2024, at a price of $62.575 per share, totaling $107,128. Following the transaction, Preusse directly owns 26,579 shares of the company.
SEC Filing: REALTY INCOME CORP [ O ] - Form 4 - Sep. 13, 2024
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