by Stocks that pay monthly dividends are beneficial for income investors because they pay ongoing, regular dividend payments each month that can be used for recurring expenses. Temporary swings in stock price aren't as important to these investors as steady earnings, but they're a bonus when stock prices rise on the back of good earnings, dividend increases, analyst upgrades, or other news.
Here are three real estate investment trusts (REITs) that pay consistent monthly dividends, have received recent positive news, and will have ex-dividend dates next week for those looking for a reliable income:
The market has a long history of overselling REITs when a potential recession looms, presenting an incredible opportunity for investors to lock in huge returns. Get access to insights from Benzinga's real estate research team with the free weekly REIT report.
Agree Realty Corp. (NYSE: ADC) is a net lease REIT based in Bloomfield Hills, Michigan focused on retail real estate. Its portfolio includes 1,908 properties totaling 40 million square feet in 48 states. 68% of tenants are investment grade tenants.
Agree Realty was incorporated in 1971 as Agree Development Co. In 1994, the company went public as a REIT as Agree Realty Corp. went public and was listed on the New York Stock Exchange. The market cap is $6.09 billion. Among the largest tenants are well-known names such as Walmart Inc. (NYSE: WMT), Best Buy Co. Inc. (NYSE:BBY) and Kroger Co. (NYSE:KR).
On June 14, Exane BNP Paribas analyst Nate Crossett began coverage of Agree Realty with an Outperform rating and announced a price target of $80. On the same day, Raymond James analyst RJ Milligan maintained his “strong buy” rating but lowered the price target to $76 from $81.
On June 22, Mizuho analyst Haendel upgraded St. Juste Agree Realty to buy from neutral with a price target of $70.
Agree Realty's monthly dividend increased to $0.243 per share in April from $0.24 per share. The next ex-dividend date is June 29th and the payday is July 14th. The current dividend yield is 4.48%.
EPR properties (NYSE: EPR) is a diversified experience REIT headquartered in Kansas City, Missouri, that owns and operates 363 movie theater chains, amusement parks, ski resorts, fitness centers and other recreational facilities in 44 states.
Investors have had concerns about the possible bankruptcy of some theater chains owned by EPR Properties, but recent rent arrears from Regal Theaters have helped allay those concerns.
On June 20, Mitch Germain, an analyst at JMP Securities, upgraded EPR Properties from “Market Perform” to “Market Outperform” with a price target of $54.
EPR Properties shares rose to a recent intraday high of $46.35 from a low of $34.56 in late March. The stock was technically overbought and has since declined to $43.75.
EPR Properties' monthly dividend is $0.275 per share. The ex-dividend date is June 29th and the payday is July 17th. The current dividend yield is 7.44%.
Modiv Inc. (NYSE: MDV) is a Reno, Nevada-based diversified commercial REIT with 56 triple-net leased single-tenant industrial and retail properties in 16 states. Tenants include Dollar General, Costco and 3M. The utilization is 100%.
On May 15, Modiv announced first quarter operating results. Working capital of $0.30 was a penny higher than Q1 2022 and revenue of $10.31 million was above Q1 2022 revenue of $9.65 million.
On June 2, EF Hutton analyst Gaurav Mehta gave Modiv a buy rating and a price target of $17.
Modiv shares climbed from a low of $10.07 in mid-April to a high of $15.15 in late May. Like EPR Properties, Modiv was overbought, but shares have now lost some of those gains, recently closing at $13.23.
Modiv's monthly dividend is $0.0958 per share. The ex-dividend date is June 29th and the payment date is July 25th. The current dividend yield is 8.7%.
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This article, “3 Monthly Paying REITs With Breaking Good News And Upcoming Ex-Dividends,” originally appeared on Benzinga.com
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