5 Stocks That Pay Dividends Monthly

3. Agree Realty Corporation (NYSE:ADC)

Number of Hedge Fund Shareholders: 19

Monthly Dividend Payout: $0.24

Agree Realty Corporation (NYSE:ADC) has a 27-year run of making dividend payments, as well as a nine-year run of dividend growth. The REIT switched to monthly dividend payments at the beginning of 2021, which began at $0.207. They’ve since been raised four times, with the next payment scheduled for November 14 coming in at $0.24. The company’s payout ratio is high however, currently clocking in at 144%. ADC shares yield 4.21%.

Agree Realty Corporation (NYSE:ADC) continues to build its war chest, which could allow it to be aggressive on the growth front while many of its rivals hunker down to manage their leverage during the challenging market conditions. Agree Realty made a secondary offering of 5 million shares at the end of September at $66.85 per share. The company also agreed to settle all outstanding forward equity as of September 30, with the proceeds expected to total $599 million.

Save for a brief blip in Q4, hedge fund ownership of Agree Realty Corporation (NYSE:ADC) has remained extremely steady over the past year and a half. Jeffrey Furber’s AEW Capital Management built a large new stake in the company during Q2 that contained 587,020 shares, while James Morrow’s Calladine Capital Management owned 170,000 shares on June 30 and had 3.63% exposure to ADC in its 13F portfolio.