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 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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