Most stocks pay quarterly dividends, which is fine for many shareholders who reinvest dividends. However, many investors rely on dividends as part of a passive income stream, and getting a monthly dividend payout is more beneficial. Typically, real estate investment trusts, business development companies, and closed-end funds are among the investment vehicles that pay distributions every month. According to the Internal Revenue Service (IRS), passive income generally includes earnings from rental activity or any trade, business, or investment in which the individual does not materially participate. It can also include income from limited partnerships, stocks, bonds, and other similar enterprises in which the investor is not actively involved.
We screened our 24/7 Wall Street research database for high-quality companies rated Buy by major Wall Street firms that pay monthly dividends, which seem like great ideas for Baby Boomers and Gen X passive income-oriented investors seeking upside appreciation.
Why we recommend monthly income stocks
A monthly check from your stock portfolio makes sense for most people with bills and expenses due every 30 days, especially in a world where prices are consistently rising. Items such as mortgage payments, rent, utility bills, cell phone and internet bills, trash collection, and even grocery bills are always due each month. A steady stream of passive monthly income can be a huge help in meeting these obligations.
Agree Realty
Agree Realty Corp. (NYSE: ADC) is an $8 billion+ industry leader in the acquisition and development of properties net leased to retailers. This mid-cap stock offers a reliable 4.30% dividend and strong upside potential. Agree Realty is a publicly traded real estate investment trust (REIT) that acquires and develops properties net-leased to industry-leading, omnichannel retail tenants.
The company’s assets are held by, and all of its operations are conducted directly or indirectly through, the operating partnership of which the company is the sole general partner.
Its portfolio comprises over 2,370 properties in 50 states, totaling approximately 48.8 million square feet of gross leasable area (GLA). The company’s portfolio of properties is located in:
- Texas
- Ohio
- Florida
- Michigan
- Illinois
- North Carolina
- New Jersey
- Pennsylvania
- California
- New York
- Georgia
- Virginia
- Connecticut
- Wisconsin
Agree Realty tenants include these companies and more:
- Walmart
- Dollar General
- Tractor Supply
- Best Buy
- Dollar Tree
- TJX Companies,
- O’Reilly Auto Parts
- CVS
- Kroger
- Lowe’s
- Hobby Lobby
- Burlington
- Sherwin-Williams
- Sunbelt Rentals
- Wawa
- Home Depot
- TBC Corporation
- Gerber Collision
Apple Hospitality REIT
Apple Hospitality REIT Inc. (NYSE: APLE) owns one of the largest portfolios of upscale, select-service hotels in the United States. It is a publicly traded REIT that pays a solid 8% monthly dividend and distinguishes itself in the market with its unique offerings.
The company comprises 224 hotels with more than 30,066 guest rooms in 87 markets throughout 37 states, as well as one property leased to third parties. Its hotel portfolio comprises 100 Marriott-branded hotels, 119 Hilton-branded hotels, and five Hyatt-branded hotels.
Its hotels operate primarily under Marriott or Hilton brands. They are operated and managed under separate management agreements with 16 hotel management companies, including:
- Hilton Garden Inn
- Hampton
- Courtyard
- Residence Inn
- Homewood Suites
- SpringHill Suites
- Fairfield
- Home2 Suites
- TownePlace Suites
- AC Hotels
- Hyatt Place
- Marriott
- Embassy Suites
- Aloft
- Hyatt House
Apple Hospitality hotels are in various states, including Alaska, Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Kansas, Louisiana, and Michigan.
EPR Properties
This REIT invests in some of the most popular entertainment companies and pays a handsome 6.09% dividend. EPR Properties (NYSE: EPR) is a leading experiential net-lease REIT, specializing in select enduring experiential properties within the real estate industry. It operates through two segments.
The Experiential segment consists of approximately:
- 157 theater properties
- 58 eat and play properties
- 24 attraction properties
- 11 ski properties
- Four experiential lodging properties
- One gaming property
- One cultural property
- 22 fitness and wellness properties
The company’s Education segment consists of property types, including 59 early childhood education center properties and nine private school properties.
The EPR Properties investment portfolio includes ownership of and long-term mortgages on experiential and educational properties. The company has investments in approximately 44 states. All the company’s owned single-tenant properties are leased under long-term, triple-net leases.
Main Street Capital
Main Street Capital Corp. (NASDAQ: MAIN) has helped over 200 private companies grow or transition by providing flexible private equity and debt capital solutions. This company is a favorite among Wall Street investors and offers a substantial dividend yield of 4.66%. Main Street Capital is a private equity firm that provides equity capital to lower-middle market companies.
The firm also provides debt capital to middle-market companies for:
- Acquisitions
- Management buyouts
- Growth financings
- Recapitalizations
- 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 with annual revenues ranging from $10 million to $150 million.
The firm’s middle market debt investments are in businesses that are generally larger in size than its lower middle market portfolio companies. It also creates majority and minority equity.
Realty Income
This REIT invests in free-standing, single-tenant commercial properties. This is an ideal stock for growth and income investors seeking a safer, contrarian investment for the remainder of 2025 with a 5.33% dividend. Realty Income Corp. (NYSE: O) is an S&P 500 company that provides stockholders with dependable monthly income.
The company acquires and manages freestanding commercial properties that generate rental revenue under long-term net lease agreements with its commercial clients.
It is engaged in a single business activity: leasing property to clients, generally on a net basis. This business activity spans various geographic boundaries and encompasses a range of property types and clients across multiple industries.
The company owns or holds interests in approximately 15,621 properties in all 50 United States, as well as:
- United Kingdom
- France
- Germany
- Ireland
- Italy
- Portugal
- Spain
With clients doing business in 89 industries, its property types include: retail, industrial, gaming, and others, such as agriculture and office.
Its primary industry concentrations include:
- Grocery stores
- Convenience stores
- Dollar stores
- Drug stores
- Home improvement stores
- Restaurants
- Quick service
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