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Income investors looking for more frequent payouts should consider monthly dividend stocks. Stocks that pay dividends each month could be more appealing for income investors, as they pay 12 dividends per year instead of the usual four on a quarterly payout schedule.

In addition, value investors could consider monthly dividend stocks when they are undervalued. These 3 undervalued monthly dividend stocks have high yields.

Agree Realty (ADC)
 

Agree Realty is an integrated real estate investment trust (REIT) focused on ownership, acquisition, development, and retail property management. Agree has developed over 40 community shopping centers throughout the Midwestern and Southeastern United States.

At the end of December 2024, the company owned and operated 2,370 properties located in 50 states, containing approximately 48.8 million square feet of gross leasable space. The portfolio remains diversified across tenants, retail sectors, and geographies, with top tenants including Walmart, Tractor Supply, and Dollar General, and major exposure in grocery, home improvement, and convenience stores. The company’s business objective is to invest in and actively manage a diversified portfolio of retail properties net leased to industry tenants.

On October 21st, 2025, Agree Realty Corp. reported third quarter results for Fiscal Year (FY)2025. The company reported strong third-quarter results for 2025, with EPS of $0.47, beating estimates by $0.01, and revenue of $183.22 million, up 18.7% year-over-year. Net income per share rose 7.9% to $0.45, while Core FFO and AFFO per share increased 8.4% and 7.2% to $1.09 and $1.10, respectively.

The company declared a monthly dividend of $0.256 per share, representing a 2.4% increase from the prior year, and raised full-year 2025 AFFO guidance to $4.31–$4.33 per share. ADC has increased its dividend for 13 consecutive years and currently yields 4.4%.

True North Commercial REIT (TUERF)
 

True North Commercial REIT is a Canadian office REIT that owns and operates a portfolio of single-tenant and select multi-tenant office properties across five provinces. As of September 30th, 2025, the Trust owned 38 office properties totaling 4.5 million square feet, with 94% occupancy and a weighted average lease term of 4.3 years.

Roughly 72% of revenue is generated from government and credit-rated tenants, providing highly contractual and defensive cash flow despite structural challenges in the office sector. The portfolio is concentrated in Ontario (notably the GTA and Ottawa), with additional exposure to Alberta, Atlantic Canada, and British Columbia. The REIT generated $88.3 million in rental revenue last year.

On November 11th, 2025, True North Commercial REIT reported its Q3 results. Revenue from real estate properties was $22.0 million, slightly up year over year. Growth was driven primarily by termination income from a GTA tenant, partially offset by asset dispositions and lower occupancy at properties held for sale.

Net operating income declined 5% year over year to about $11.1 million, reflecting weaker same-property performance in Alberta and British Columbia and the impact of dispositions, despite contractual rent steps elsewhere in the portfolio. Portfolio occupancy remained stable at 94% (excluding assets held for sale), with a 4.3-year weighted average lease term, supported by a tenant base dominated by government and credit-rated users. FFO per share of $0.40 was down from $0.45 last year despite ongoing unit repurchases.

True North Commercial REIT benefits from high tenant credit quality, with a portfolio heavily leased to government and government-related tenants, which provides contractual cash flow stability and predictable rent collection even in weak economic environments. The payout ratio also has improved materially and is now a more conservative 38% of expected 2025 FFO, offering some buffer at the distribution level.

SL Green Realty (SLG)
 

SL Green Realty was formed in 1980. It is an integrated real estate investment trust (REIT) that is focused on acquiring, managing, and maximizing the value of Manhattan commercial properties. It is Manhattan’s largest office landlord, and currently owns 53 buildings totaling 31 million square feet.

In mid-October, SLG reported (10/15/2025) financial results for the third quarter of fiscal 2025. Its occupancy rate improved sequentially from 91.5% to 92.4%. Same-store net operating income dipped -4% over the prior year’s quarter. However, thanks to higher occupancy and leasing activity, adjusted funds from operations (FFO) per share grew 40% over the prior year’s quarter, from $1.13 to $1.58, exceeding the analysts’ consensus by $0.06.

SLG has been severely hit by the pandemic, which has led many tenants to adopt a work-from-home model. Occupancy of office space in New York remains near historic lows. This has caused an unprecedented tenant-friendly environment. The exceptionally high FFO per share in 2024 resulted from some non-recurring gains. Management stated that it still expects FFO per share of $5.65-$5.95 this year, excluding special items.

During the last 44 years, SLG has been operating, investing and developing several high-quality commercial properties in Manhattan. It has thus developed great expertise in the area, which constitutes a significant competitive advantage.

SLG has a decent balance sheet, with a healthy BBB credit rating. As a result, it could maintain its dividend, which is covered with a reasonable payout ratio of 53%.

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