Monthly dividend-paying stocks are beneficial for income investors because they provide ongoing, regular dividend payments every month that can be used toward recurring expenses. Temporary share price fluctuations are not as important as steady income for these investors, but it’s a bonus when stock prices rise because of good earnings, dividend hikes, analyst upgrades or other news.
Here are three real estate investment trusts (REITs) that pay steady monthly dividends, have recently received positive news and will have ex-dividend dates coming next week for those looking for reliable income:
The market has a long history of overselling REITs when facing a potential recession, providing an incredible opportunity for investors to "lock in" massive yields. Gain access to insights from Benzinga's real estate research team with the free Weekly REIT Report.
Agree Realty Corp. ADC is a Bloomfield Hills, Michigan-based net-lease REIT that focuses on retail properties. Its portfolio includes 1,908 properties totaling 40 million square feet across 48 states. 68% of its tenants are investment grade.
Agree Realty was founded in 1971 as Agree Development Co. It went public as a REIT in 1994 as Agree Realty Corp. and was listed on the New York Stock Exchange. It has a market cap of $6.09 billion. Some of its largest tenants include well-known names like Walmart Inc. WMT, Best Buy Co. Inc. BBY and Kroger Co. KR.
On June 14, Exane BNP Paribas analyst Nate Crossett initiated coverage on Agree Realty with an Outperform rating and announced an $80 price target. The same day, Raymond James analyst RJ Milligan maintained a Strong Buy rating but lowered the price target from $81 to $76.
On June 22, Mizuho analyst Haendel St. Juste upgraded Agree Realty from Neutral to Buy and announced a price target of $70.
Agree Realty’s monthly dividend increased in April from $0.24 per share to $0.243 per share. The next ex-dividend date is June 29, and the payable date is July 14. The present dividend yield is 4.48%.
EPR Properties EPR is a Kansas City, Missouri-based diversified experiential REIT that owns and operates 363 movie theater chains, amusement parks, ski resorts, fitness centers and other recreational venues across 44 states.
Investors had concerns about possible bankruptcies of some of the theater chains EPR Properties owns, but recent back collections of rent from Regal Theaters have helped to allay those concerns.
On June 20, JMP Securities analyst Mitch Germain upgraded EPR Properties from Market Perform to Market Outperform and announced a price target of $54.
EPR Properties’ shares rose from a low of $34.56 at the end of March to a recent intraday high of $46.35. The stock was technically overbought and has since backed off to $43.75.
EPR Properties’ monthly dividend pays $0.275 per share. The ex-dividend date is June 29, and the payable date is July 17. The present dividend yield is 7.44%.
Modiv Inc. MDV is a Reno, Nevada-based diversified commercial REIT with 56 triple-net-leased industrial and retail single-tenant properties across 16 states. Its tenants include Dollar General, Costco and 3M. Its occupancy rate is 100%.
On May 15, Modiv announced first-quarter operating results. Funds from operations of $0.30 was up a penny from the first quarter of 2022, and revenue of $10.31 million was above revenue of $9.65 million in the first quarter of 2022.
On June 2, EF Hutton analyst Gaurav Mehta rated Modiv at Buy and announced a price target of $17.
Modiv shares climbed from a low of $10.07 in mid-April to a high of $15.15 by the end of May. Like EPR Properties, Modiv was overbought, but shares have now retraced some of those gains and recently closed at $13.23.
Modiv’s monthly dividend is $0.0958 per share. The ex-dividend date is June 29, and the payable date is July 25. The present dividend yield is 8.7%.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it’s too late. Benzinga’s in-house real estate research team has been working hard to identify the greatest opportunities in today’s market, which you can gain access to for free by signing up for Benzinga’s Weekly REIT Report.
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