Dividend Challengers List Ranked By Yield: Top 10 (2024)

In this article, we discuss top 10 dividend challengers according to dividend yields. If you want to read our detailed analysis of dividend growers and the performance of dividend stocks, go directly to read Dividend Challengers List Ranked By Yield: Top 30.

10. Four Corners Property Trust, Inc. (NYSE:FCPT)

Dividend Yield as of January 19: 5.70%

Four Corners Property Trust, Inc. (NYSE:FCPT) is a real estate investment trust company that primarily focuses on owning and leasing properties in the restaurant and retail industries. On November 10, the company declared a 2% hike in its quarterly dividend to $0.345 per share. This marked the company’s seventh consecutive year of dividend growth. With a dividend yield of 5.70% as of January 19, FCPT is one of the highest-yielding stocks on our dividend challengers list.

As of the end of Q3 2023, 12 hedge funds tracked by Insider Monkey owned stakes in Four Corners Property Trust, Inc. (NYSE:FCPT), the same as in the previous quarter. The collective value of these stakes is more than $30.2 million. Among these hedge funds, Marshall Wace LLP was the company’s leading stakeholder in Q3.

9. LCNB Corp. (NASDAQ:LCNB)

Dividend Yield as of January 19: 5.91%

LCNB Corp. (NASDAQ:LCNB) is next on our dividend challengers list. The Ohio-based bank holding company has been growing its payouts for six consecutive years. It currently pays a quarterly dividend of $0.22 per share and has a dividend yield of 5.91%, as of January 19.

As of the close of Q3 2023, 3 hedge funds in Insider Monkey’s database owned stakes in LCNB Corp. (NASDAQ:LCNB), up from 2 in the preceding quarter.

8. National Storage Affiliates Trust (NYSE:NSA)

Dividend Yield as of January 19: 5.95%

National Storage Affiliates Trust (NYSE:NSA) is an American real estate investment trust company that specializes in the ownership, operation, and acquisition of self-storage properties. The company started paying dividends in 2015 and has raised its payouts multiple times since then. It offers a quarterly dividend of $0.56 per share and has a dividend yield of 5.95%, as of January 19.

At the end of September 2023, 17 hedge funds tracked by Insider Monkey owned stakes in National Storage Affiliates Trust (NYSE:NSA), compared with 22 in the previous quarter. These stakes hold a collective value of nearly $100 million.

7. Kinder Morgan, Inc. (NYSE:KMI)

Dividend Yield as of January 19: 6.44%

An American energy and infrastructure company, Kinder Morgan, Inc. (NYSE:KMI) has raised its payouts for six consecutive years. It currently offers a per-share dividend of $0.2825 every quarter for a dividend yield of 6.44%, as recorded on January 19. It is among the highest-yielding stocks on our dividend challengers list.

At the end of the third quarter of 2023, 42 hedge funds tracked by Insider Monkey reported owning stakes in Kinder Morgan, Inc. (NYSE:KMI), up from 36 in the previous quarter. These stakes are collectively valued at nearly $770 million. With roughly 13 million shares, FPR Partners was the company’s leading stakeholder in Q3.

6. Getty Realty Corp. (NYSE:GTY)

Dividend Yield as of January 19: 6.51%

Getty Realty Corp. (NYSE:GTY) is a New York-based real estate investment trust that owns and leases properties that are used for convenience stores and gasoline stations. The company offers a quarterly dividend of $0.45 per share, having raised it by 4.7% in October 2023. Through this increase, it stretched its dividend growth streak to nine years, which makes GTY one of the best stocks on our dividend challengers list. The stock has a dividend yield of 6.51%, as of January 19.

The number of hedge funds tracked by Insider Monkey owning stakes in Getty Realty Corp. (NYSE:GTY) stood at 12 in Q3 2023, up from 10 in the quarter before this. These stakes are collectively worth over $55.2 million.

5. Community Healthcare Trust Incorporated (NYSE:CHCT)

Dividend Yield as of January 19: 6.91%

An American real estate investment trust company, Community Healthcare Trust Incorporated (NYSE:CHCT) is next on our dividend challengers list. The company pays a quarterly dividend of $0.455 per share and has a dividend yield of 6.91%, as of January 19. It has raised its dividend every quarter since its IPO in 2015.

Community Healthcare Trust Incorporated (NYSE:CHCT) was a part of 10 hedge fund portfolios at the end of Q3 2023, up from 8 in the previous quarter, according to Insider Monkey’s database. The stakes owned by these hedge funds have a total value of over $42.6 million.

4. Hess Midstream LP (NYSE:HESM)

Dividend Yield as of January 19: 7.63%

Hess Midstream LP (NYSE:HESM) is a midstream energy company that focuses on the development, acquisition, and operation of midstream infrastructure assets. The company has been growing its dividends for the past six years and it currently pays a quarterly dividend of $0.6175 per share. The stock’s dividend yield on January 19 came in at 7.63%.

As of the end of the third quarter of 2023, 21 hedge funds tracked by Insider Monkey reported having stakes in Hess Midstream LP (NYSE:HESM), growing from 15 in the preceding quarter. These stakes are worth over $121.8 million in total.

3. Innovative Industrial Properties, Inc. (NYSE:IIPR)

Dividend Yield as of January 19: 7.93%

An American real estate investment trust company, Innovative Industrial Properties, Inc. (NYSE:IIPR) is next on our dividend challengers list. On December 15, the company declared a 1.1% hike in its quarterly dividend to $1.82 per share. It has raised its dividends every year since 2017. The stock offers a dividend yield of 7.93%, as of January 19.

Of the 910 hedge funds in Insider Monkey’s database at the end of Q3 2023, 16 funds owned stakes in Innovative Industrial Properties, Inc. (NYSE:IIPR), worth roughly $128 million in total. With over 1.1 million shares, Zimmer Partners was the company’s leading stakeholder in Q3.

2. Delek Logistics Partners, LP (NYSE:DKL)

Dividend Yield as of January 19: 9.60%

Delek Logistics Partners, LP (NYSE:DKL) is an American logistics company that operates in the midstream energy sector. The company has been growing its dividends for 43 consecutive quarters and currently offers a quarterly dividend of $1.045 per share. As of January 19, the stock has a dividend yield of 9.60%.

As of the end of September 2023, Ken Griffin’s Citadel Investment Group was the only stakeholder of Delek Logistics Partners, LP (NYSE:DKL), owning stakes worth $106,100.

1. NextEra Energy Partners, LP (NYSE:NEP)

Dividend Yield as of January 19: 13.00%

NextEra Energy Partners, LP (NYSE:NEP) tops our dividend challengers list. The renewable energy company has been growing its dividends since 2015 and pays a quarterly dividend of $0.7875 per share. The stock’s dividend yield on January 19 came in at 13%.

As of the close of the third quarter of 2023, 19 hedge funds in Insider Monkey’s database owned investments in NextEra Energy Partners, LP (NYSE:NEP), down slightly from 23 in the previous quarter. These stakes are collectively valued at roughly $191 million.

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