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Monthly dividend stocks are highly appealing for income investors. That is because these particular dividend stocks pay their dividends every month, instead of once per quarter like most dividend-paying stocks.
Even better, many monthly dividend stocks have high yields well above the market average. The following 3 monthly dividend stocks have solid yields above 3%, and make dividend payments each month.
Diversified Royalty Corp. (BEVFF)
Diversified Royalty is a Canadian royalty firm that acquires trademark and royalty rights from multi-location businesses and franchisors across North America.
Its portfolio includes a mix of service, retail, and consumer-facing brands such as Mr. Lube + Tires, Sutton, Oxford Learning, Mr. Mikes, Nurse Next Door, Stratus, BarBurrito, and the AIR MILES Reward Program.
The company earns royalty income based on system sales, agent counts, or fixed payments depending on the partner, and supplements this with management fees. Its model is structured around long-term royalty agreements that typically come with inflation-linked or fixed annual escalators.
On November 6th, 2025, Diversified Royalty reported its Q3 results for the period ending September 30th, 2025. Adjusted revenue for the quarter rose to about $12.35 million, reflecting continued contributions from Mr. Lube + Tires, Oxford, and the contractual annual increases from Stratus, Sutton, Nurse Next Door, and BarBurrito.
Adjusted royalty income reached about $12.25 million, supported by stable performance across the portfolio and partly offset by ongoing softness at AIR MILES. Distributable cash rose to roughly $7.81 million, or about $0.0472 per share, compared to $0.0451 in the prior year’s quarter.
Moving forward, EPS growth is expected to be driven by modest contractual royalty increases and contributions from newer partners, potentially offset by higher interest costs and uneven performance from more mature royalty streams.
BEVFF currently yields 6.1%.
SmartStop Self Storage REIT (SMST)
SmartStop Self Storage is an internally managed self-storage REIT that traces its platform back to the Strategic Storage Trust vehicles formed in the late 2000s and listed publicly on the NYSE in April 2025.
As of its latest quarterly filings, the trust’s portfolio consists of 187 operating properties comprising 131,275 units and 14.8 million net rentable square feet across 24 U.S. states and Canadian provinces.
The properties are primarily modern self-storage facilities offering a mix of climate-controlled, drive-up, and specialty storage formats. Along with its owned real estate, SmartStop runs a sizable managed and third-party management platform, overseeing 463 properties, ~272,897 units, and ~35.7 million net rentable square feet across North America.
On November 5th, 2025, SmartStop Self Storage REIT reported Q3 results. The company generated total self-storage-related revenues of $64.6 million, representing a year-over-year increase of about $9.2 million, driven by acquisitions and steady same-store performance.
On a same-store basis, revenue increased 2.5% and NOI increased 1.5%, supported by a 40 basis point increase in average occupancy to 92.6% and modest rent growth.
FFO, as adjusted, attributable to common stockholders and OP unit holders increased to $27.5 million, up 135% year over year, while FFO, as adjusted per diluted share and OP unit rose to $0.47, up 12% from last year.
Moving forward, we expect FFO per share growth of 3% per annum over the medium term to be powered by same-store NOI growth and accretive acquisitions, offset by higher interest expense and some dilution from funding growth.
SmartStop owns a diversified, well-located portfolio in major markets and operates on a modern, scaled platform, with additional strategic value coming from its APSM management business and acquisition pipeline. The self-storage sector is generally more defensive than most real estate types since demand isn’t necessarily driven by discretionary spending.
SMA currently yields 4.3%.
Healthpeak Properties (DOC)
Healthpeak Properties is the largest healthcare REIT in the U.S., with 774 properties. It was the first healthcare REIT that was included in the S&P 500. The REIT invests in life science facilities, senior houses, and medical offices, with 97% of its portfolio based on private-pay sources.
Healthpeak Properties has sold several assets and has used the proceeds to reduce its debt. As a result, the REIT has received credit rating upgrades from S&P and Fitch (to BBB+) as well as Moody’s (to Baa1).
In early February, Healthpeak Properties reported (2/2/26) results for the fourth quarter of fiscal 2025. Same-property net operating income grew 3.9% over the prior year’s quarter thanks to strong growth in the segment of continuing care retirement community and FFO per share rose 2%, from $0.46 to $0.47.
Healthpeak Properties benefits from favorable secular trends. As the baby boomer generation ages and the average life expectancy is on the rise, the senior population of the U.S. is expected to grow significantly in the upcoming years.
The 80+ age group is expected to grow by about 5% per year on average until 2030. In addition, this age group has immense spending power. Thanks to these trends, healthcare spending in the U.S. is expected to grow by about 5% per year on average until 2030.
DOC currently yields 7.0%.
Disclosure: No positions in any stocks mentioned
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