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Monthly dividend stocks are attractive for income investors who are looking for more frequent payouts. Most stocks that pay dividends do so on a quarterly or semi-annual schedule.

But monthly dividend stocks pay shareholders each month, for 12 payments per year.

This article will discuss 3 of the top high-yielding monthly dividend stocks today that fly under the radar for most investors, as they do not get much coverage in the financial media.

Nevertheless, these 3 dividend stocks have high yields, and make monthly dividend payouts to shareholders.

EPR Properties (EPR)

EPR Properties is a specialty real estate investment trust, or REIT, that invests in properties in specific market segments that require industry knowledge to operate effectively. It selects properties it believes have strong return potential in Entertainment, Recreation, and Education. The portfolio includes about $7 billion in investments across 350+ locations in 44 states, including over 200 tenants.

EPR posted third quarter earnings on October 30th, 2024, and results were better than expected on both the top and bottom lines. Funds-from-operations came to $1.29, which was two cents ahead of estimates. FFO was down from $1.47 per share a year ago.

On a dollar basis, FFO fell from $113 million to just over $100 million. Revenue was off almost 5% year-over-year to $180.5 million, which was $21.5 million ahead of expectations. For the nine months, revenue was off from $534 million to $521 million.

EPR narrowed its guidance for the year to a range of $4.80 to $4.92 in adjusted FFO-per-share for the year, which is a narrowing of four cents on each side of guidance. The company is also expecting investment spending in the range of $225 million to $275 million.

EPR was deeply impacted by the pandemic, but recent results seem to indicate that the worst is behind EPR, and the Regal restructuring is a big step forward. We’re moving our growth estimate to 2% as we think EPR’s current level of earnings is sustainable.

EPR stock currently yields 7.6%.

Gladstone Land Corp. (LAND)

Gladstone Land Corporation is a real estate investment trust, or REIT, that specializes in the owning and operating of farmland in the U.S. The trust owns about 160 farms, comprising more than 110,000 acres of farmable land.

Gladstone’s business is made up of three different options available to farmers, all of which are done on a triple-net basis. The trust offers long-term sale leaseback transactions, traditional leases of farmland, and outright purchases of farm properties.

Gladstone’s portfolio has an appraised value of over $1.5 billion. Gladstone posted third quarter earnings on November 6th, 2024, and results were slightly better than expected.

Adjusted funds-from-operations, or FFO, was $4.5 million, or 13 cents per share. That was down from $5.4 million, or 15 cents per share, in the year-ago period. Cash flow from operations was $1.4 million lower year-over-year, largely due to payment of certain cash allowances for three specific leases.

LAND has increased its dividend for 10 consecutive years. The dividend should be sustainable at 89% of AFFO-per-share for this year and very small yearly increases. LAND stock currently yields 4.9%.

Modiv Industrial (MDV)

Modiv Industrial acquires, owns, and actively manages single-tenant net-lease industrial, retail, and office properties in the United States, focusing on strategically essential and mission-critical properties with predominantly investment-grade tenants.

As of its most recent filings, the company’s portfolio comprised 44 properties that occupied 4.6 million square feet of aggregate leasable area. Modiv has nearly 43 properties in its portfolio that occupy 4.5 million square feet of aggregate leasable area.

Modiv reported its Q3 results for the period ending September 30th, 2024. For the quarter, rental income came in at $11.6 million, down 7.3% year-over-year. This was mainly due to the elimination of some non-NNN tenant reimbursements related to the August 2023 portfolio disposition of 13 properties.

Management fee income was stable at nearly $66 million. Total income reached nearly $11.7 million, down 7.2% from $12.6 million last year. AFFO was $3.7 million, or $0.34 per diluted share, in line with AFFO of $3.7 million, or $0.33 per diluted share, in the prior year period.

Management has been primarily focused on acquiring industrial properties, but they have stated they may also target other types, including retail properties, data centers, and storage properties. For instance, in 2022, the company acquired four industrial properties and one retail property.

Modiv’s strategy is to keep on acquiring more properties, which it hopes will be accretive to AFFO per share over time.

MDV stock currently yields 7.2%.

Disclosure: No positions in any stocks mentioned

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