Buy These REITs for Reliable Monthly Income
For investors seeking a steady stream of monthly income, real estate investment trusts (REITs) that pay dividends on a monthly basis emerge as a compelling financial strategy. In this article, we unravel two REITs that pay monthly dividends and have yields up to 5.2%.
Agree Realty Corporation
Agree Realty Corporation (NYSE:ADC) owns and manages a portfolio of 2,135 properties across 49 states containing approximately 44 million square feet of gross leasable space. It counts world-class retailers such as Lowe's, McDonald's, Starbucks, CVS, Walmart, ULTA, Home Depot, Target, and Costco as tenants.
Agree Realty currently pays a monthly dividend of $0.247 per share, equating to an annualized dividend of $2.964 per share and giving its stock a yield of about 5.2% at the time of this writing.
Agree is also a dividend-growth star. It has raised its annual dividend payment for 11 consecutive years, and it's already on track for 2024 to mark the 12th consecutive year with an increase.
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Stag Industrial
Stag Industrial (NYSE:STAG) owns and operates 568 industrial properties in 41 states consisting of approximately 112 million square feet. It counts Amazon and FedEx as two of its largest tenants.
Stag currently pays a monthly dividend of $0.123333 per share, equating to an annualized dividend of $1.48 per share and giving its stock a yield of about 3.9% at the time of this writing.
Like Agree Realty, Stag is a serial dividend raiser, growing its annual dividend every year since its initial public offering in 2011.
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