15 Best Monthly Dividend Stocks To Buy Right Now

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1. Agree Realty Corporation (NYSE:ADC)

Number of Hedge Fund Holders: 26

Agree Realty Corporation (NYSE:ADC) is an American real estate investment trust company that is recognized as a prominent player in the retail industry, with major tenants like Walmart, Tractor Supply, Dollar General, Best Buy, TJX, Dollar Tree, Lowe’s, and Kroger, which together account for approximately one-third of the REIT’s annual rental income. The remaining two-thirds of the income is generated from other stable businesses. In the past 12 months, the stock has delivered a nearly 19% return to shareholders.

As of September, Agree Realty Corporation (NYSE:ADC) maintained an impressive 99.6% occupancy rate across its portfolio. In the third quarter of 2024, the company generated $154.3 million in revenue, marking a nearly 13% increase from the previous year. In addition, it invested approximately $237 million in 93 retail net lease properties during the quarter.

Agree Realty Corporation (NYSE:ADC) operates efficiently, with tenants shouldering most of the property-related operating costs. Over the past decade, the company has demonstrated strong growth, raising its dividend by approximately 6% per year. Its portfolio has also seen significant expansion, growing from 130 properties in late 2013 to 2,271 properties by the end of the third quarter of 2024. It is one of the best dividend stocks on our list as the company has been paying uninterrupted dividends since its IPO in 1994. The company currently offers a monthly dividend of $0.253 per share and has a dividend yield of 4.22%, as of January 29.

The number of hedge funds tracked by Insider Monkey owning stakes in Agree Realty Corporation (NYSE:ADC) grew to 26 in Q3 2024, from 23 in the previous quarter. These stakes are worth roughly $565 million in total.

Overall Agree Realty Corporation (NYSE:ADC) ranks first on our list of the best dividend stocks that pay monthly dividends. While we acknowledge the potential for ADC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ADC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stock To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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