Key Points
- Quality monthly pay dividend stocks are in big demand.
- Dependable monthly passive income is a perfect partner for Social Security.
- Is monthly passive income something you should be receiving? A financial advisor can scan your portfolio and assets and let you know. Click here and find out how. (sponsored)
Most dividend investors seek solid passive income streams from quality dividend stocks. Passive income is a steady stream of unearned income that does not require active traditional work. Shared ideas for earning passive income include investments like dividend stocks, bonds, mutual funds, real estate, and additional income-producing side hustles.
In a world where prices seem to be consistently rising, a monthly check makes sense for many who have bills and expenses due on a 30-day basis. Items like mortgage payments or rent, utility bills, trash collection, and even grocery bills are always due each month. A steady stream of passive monthly income can be a huge helping hand in meeting those obligations.
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 five that look like great ideas for passive income-oriented investors looking for upside appreciation.
Why do we cover dividend stocks?
Dividend stocks provide investors with reliable streams of passive income. Passive income is characterized by its ability to generate revenue without requiring the earner’s continuous active effort. It is a desirable financial strategy for those seeking to diversify their income streams or achieve financial independence.
Agree Realty
Agree Realty is a $8 billion+ industry leader in the acquisition & development of properties net leased to retailers.
This mid-cap stock offers a reliable 4.05% dividend and strong upside potential. Agree Realty Corp. (NYSE: ADC | ADC Price Prediction) is a publicly traded real estate investment trust that acquires and develops properties net leased to industry-leading, omnichannel retail tenants. As of June 30, 2024, the Company owned and operated a portfolio of 2,202 properties in 49 states containing approximately 45.8 million square feet of gross leasable area.
In 1971, Richard Agree, the executive chair of the board of directors, founded Agree Development Company, the predecessor to Agree Realty. Over its 23-year history, Agree developed over 40 community shopping centers, primarily throughout the Midwestern and Southeastern United States.
Apple Hospitality REIT
This REIT owns one of the largest portfolios of upscale, select-service hotels in the United States.
Apple Hospitality REIT Inc. (NYSE: APLE) is a publicly traded real estate investment trust that pays a solid 6.82% dividend and stands out in the market with its unique offering.
Despite its name, it’s not affiliated with the technology giant. However, it offers a solid total return potential, owning one of the largest and most diverse portfolios of upscale, room-focused hotels in the United States.
Apple Hospitality’s portfolio comprises 220 hotels with over 28,900 guest rooms in 87 markets throughout 37 states and one property leased to third parties.
Concentrated on industry-leading brands, the company’s hotel portfolio comprises:
- 100 Marriott-branded hotels
- 120 Hilton-branded hotels
- Five Hyatt-branded hotels
EPR Properties
This specialty REIT invests in properties in select market segments that require unique industry knowledge.
This REIT invests in some of the most popular entertainment companies and pays a solid 7.16% 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.
The company focuses on real estate venues that create value by facilitating out-of-home leisure and recreation experiences where consumers spend their time and money.
The company has nearly $6.7 billion in total investments across 44 states. It adheres to rigorous underwriting and investing criteria centered on key industry, property, and tenant-level cash flow standards. Senior management believes its focused approach provides a competitive advantage and the potential for stable and attractive returns.
Main Street Capital
Main Street Capital has helped over 200 private companies grow or transition by providing flexible private equity and debt capital solutions.
This company is a favorite across Wall Street and offers a solid 7.98% dividend. Main Street Capital Corp. (NASDAQ: MAIN) 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 between $10 million and $150 million.
The firm’s middle market debt investments are in businesses generally more significant in size than its lower middle market portfolio companies. It also makes majority and minority equity investments.
Realty Income
Realty Income is a real estate investment trust that invests in free-standing, single-tenant commercial properties.
This is an ideal stock for growth and income investors looking for a safer contrarian idea for the rest of 2024 that pays a whopping 4.96% 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 15,540 real estate properties (including properties acquired in the Spirit merger in January 2024) owned under long-term lease agreements with commercial tenants.
The company has declared 644 consecutive common stock monthly dividends throughout its 55-year operating history and increased the dividend 123 times since Realty Income’s public listing in 1994. It is a top real estate member of the S&P 500 Dividend Aristocrats index.
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