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 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 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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