Ready to Retire: 7 Dividend Stocks That Pay You Monthly

PeopleImages / iStock via Getty Images

While getting to retirement age can be a blessing and a curse, the reality of counting on the U.S. government to provide for your needs is not the best idea. The full retirement age is 66 if you were born between 1943 and 1954. The full retirement age increases gradually if you were born between 1955 and 1960 until it reaches 67; for anyone born in 1960 or later, full retirement benefits are payable at age 67.

The bad news for millennials is that the number will continue to increase as funds for social security are drying up, and their full retirement age will likely be 70, or perhaps even older.

Most stocks pay quarterly dividends, which is acceptable for many investors who reinvest dividends. But many investors, especially those who have retired, rely on dividends as part of a passive income stream, and getting a monthly payout is more beneficial.

We screened our 24/7 Wall St. research database, looking for companies rated Buy at major Wall Street firms that paid monthly dividends. We found seven that look like great ideas for income-oriented investors looking for upside appreciation.

Agree Realty

Source: oatawa / iStock via Getty Images

This top REIT has had a nice run off the lows printed earlier this year and pays a solid 5.20% monthly dividend. Agree Realty Corporation (NYSE: ADC) focuses on the ownership, development, acquisition, and management of retail properties net leased to national tenants.

It specializes in acquiring and developing net-leased retail properties for retail tenants.

Agree Realty specializes in acquiring and developing properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2022, the Company owned and operated a portfolio of 1,839 properties in all 48 continental states containing approximately 38.1 million square feet of gross leasable area.

EPR Properties

Source: LeMusique / iStock via Getty Images

This REIT invests in some of the most popular entertainment companies and pays a solid 7.35% dividend. EPR Properties (NYSE: EPR) is a leading experiential net lease real estate investment trust (REIT) specializing in select enduring experiential properties in the real estate industry.

EPR Properties is focused on real estate venues that create value by facilitating out-of-home leisure and recreation experiences where consumers spend their discretionary time and money.

The company has nearly $6.7 billion in total investments across 44 states. They adhere to rigorous underwriting and investing criteria for crucial industry, property, and tenant-level cash flow standards. Senior management believes their focused approach provides a competitive advantage and the potential for stable and attractive returns.

Gladstone Commercial

Source: Lyndon Stratford / iStock via Getty Images

This company has been hit hard as interest rates charged higher and is offering the best entry point in over a year and a massive 9.85% dividend. Gladstone Commercial Corporation (NASDAQ: GOOD) is focused on acquiring, owning, and operating net leased industrial and office properties across the United States.

Gladstone owns a diversified portfolio of 121 office and industrial properties in 27 states and leased to 106 tenants. The company has grown its portfolio consistently, disciplined at 18% per year since the IPO in 2003.

The company matches long-term leased properties with long-term debt to lock in the spread to create a durable, stable cash flow stream to fund monthly distributions to shareholders. Current occupancy stands at 96.5%, and occupancy has never dipped below 95.0% since our IPO in 2003.

Most importantly for investors, Gladstone has a track record of success, exhibited by a history of solid distribution yields, consistent occupancy greater than 95.0%, and 10+ years of paying continuous monthly cash distributions.

Main Street Capital

Source: pixelfit / E+ via Getty Images

This company is a favorite across Wall Street and offers a solid 7.03 dividend. Main Street Capital Corporation. (NASDAQ: MAIN) is a private equity firm specializing in equity capital to lower-middle market companies. The firm also provides debt capital to medium-market companies for acquisitions, management buyouts, growth financings, recapitalizations, and refinancing.

The firm seeks to partner with entrepreneurs, business owners, and management teams and generally provides “one-stop” financing alternatives within its lower middle market portfolio.

Main Street Capital typically invests in lower middle market companies, generally with annual revenues between $10 million and $150 million. The firm’s medium market debt investments are made in businesses generally more significant than its lower middle market portfolio companies. It makes majority and minority equity investments.

Realty Income

Source: Morsa Images / DigitalVision via Getty Images

This is an ideal stock for growth and income investors looking for a safer inflation-busting idea for 2024 that pays a stable 5.74% dividend. Realty Income Corporation (NYSE: O) is an S&P 500 company that provides stockholders with dependable monthly income.

The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 6,500 real estate properties owned under long-term lease agreements with commercial tenants.

The company has declared 640 consecutive common stock monthly dividends throughout its 54-year operating history and increased the dividend 122 times since Realty Income’s public listing in 1994. and is a top real estate member of the S&P 500 Dividend Aristocrats index.

SL Green Realty

New York | The skyline of New York City, United States
Source: StockByM / iStock via Getty Images

This is a leading large-cap office REIT that top analysts on Wall Street prefer now and is a solid (and somewhat) contrarian play with a massive 9.77% dividend. SL Green Realty Group (NYSE: SLG) is a fully integrated real estate investment trust, or REIT focused primarily on acquiring, managing, and maximizing the value of Manhattan commercial properties.

As of September 30, 2023, SL Green held interests in 59 buildings totaling 32.5 million square feet. This included ownership interests in 28.8 million square feet of Manhattan buildings and 2.8 million square feet securing debt and preferred equity investments.

STAG Industrial

Source: aPhoto / iStock via Getty Images

This strong industrial real estate investment trust play offers solid upside potential and a dependable 4.13% dividend. STAG Industrial Inc. (NYSE: STAG) is a self-managed full-service real estate company focused on acquiring, owning, and managing single-tenant, Class B warehouses in secondary markets across the U.S.

The company continues to focus on expanding its acquisition platform to find acquisitions to grow its portfolio.

Stag Industrial primarily focuses on acquiring and operating single-tenant industrial properties in secondary markets across the United States. Top Wall Street analysts expect management to be aggressive acquirers over time. The in-place portfolio should also deliver stable organic growth supported by healthy property-level fundamentals.

ALERT: Take This Retirement Quiz Now  (Sponsored)

Take the quiz below to get matched with a financial advisor today.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Take the retirement quiz right here.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.