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Tags: dividend stocks | real estate investment trust | agree realty | gladstone land | phillips edison

Bob Ciura: 3 High-Yielding Stocks With Monthly Dividends

Bob Ciura: 3 High-Yielding Stocks With Monthly Dividends

Publix Super Markets is an employee-owned, American supermarket chain headquartered in Lakeland, Florida. Here is a Publix in Miami. (Dreamstime)

Bob Ciura By Tuesday, 14 February 2023 02:16 PM EST Current | Bio | Archive

Most stocks pay dividends on a quarterly schedule. But some investors such as retirees might desire even more frequent dividend payments. Fortunately, there are stocks that make monthly dividend payments, which can help smooth out cash flows for shareholders.

This article will discuss three monthly dividend stocks that have monthly distributions and yields above 3%.

Agree Realty (ADC)

Agree Realty Corp. (ADC) is an integrated real estate investment trust (REIT) focused on ownership, acquisition, development, and retail property management. Richard Agree founded Agree Development Company in 1971, which is the predecessor to Agree Realty Corporation. Agree has developed over 40 community shopping centers throughout the Midwestern and Southeastern United States. The company owns over 1,500 properties located in 47 states, containing approximately 31.0 million square feet of gross leasable space.

The company's business objective is to invest in and actively manage a diversified portfolio of retail properties net leased to industry tenants. Agree Realty has a market capitalization of $6.24 billion, and the company has been paying a growing dividend for eleven consecutive years.

On November 1 st, 2022, Agree Realty Corp. reported third quarter and nine-month results for Full Year (FY)2022. The company invested $372 million in 121 retail net lease properties during the quarter. Net income for the quarter, increased 7.5% to $39.6 million, compared to $36.8 million for the same period in 2021.

Adjusted Funds from Operations (AFFO) increased 7.9% from $0.89 per share to $0.96 per share for the quarter year-over-year. Core Funds from Operations per share increased 5.6% to $0.97 for the quarter. Total revenue was $110 million, which is an increase of 25.7% year-over-year. For the nine months of the fiscal year, AFFO per share increased 11.2% to $2.89 and Core FFO per share increased 10.2% to $2.92 compared to the nine months of 2021. The company portfolio was 99.7% leased with a weight-average remaining lease term of approximately 8.9 years at the end of the quarter.

Agree Realty stock yields 4%.

Gladstone Land Corporation (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, and the stock trades with a market capitalization of $692 million. The trust went public in early 2013 after having been founded in 1997. Gladstone reported third quarter earnings on November 8th, 2022, and results were better than expected on both the top and bottom lines. The trust reported FFO-per-share of 19 cents, which was two cents better than expected. Revenue was $24.2 million, which was $2.1 million ahead of estimates.

The trust said it saw higher lease revenues during the period, but noted that it slowed acquisition activity due to higher interest rates and economic uncertainty. Management noted that it expects similar conditions for the balance of this year and into next year. Operating expenses were $14.6 million, up from $12.2 million in the prior quarter. Cash flows from operations declined from nearly $12 million in Q2 to $3.7 million in Q3. NAV per-share came to $16.56 at the end of Q3, up from $15.60 in Q2. The trust’s occupancy rate remains unchanged at 100%. Shares currently yield nearly 3%.

Phillips Edison & Company (PECO)

Phillips Edison & Company is a real estate investment trust that is one of the nation’s largest owners and operators of omni-channel grocery-anchored shopping centers. Additionally, the company runs a third-party investment management business providing property management and advisory services to unconsolidated joint ventures and one private fund.

As of September 30th, 2022, the company’s portfolio consisted of 290 properties, including 270 wholly-owned shopping centers, totaling approximately 33.3 million square feet, spread across 31 states. Phillips Edison & Company generates just over $500 million in annual revenues, pays dividends on a monthly basis, and is based in Cincinnati, Ohio.

In the 2022 third quarter, Phillips Edison & Company reported its Q3 results for the period ending September 30th, 2022. Total revenues came in at $145.7 million, 10% higher year-over-year. This was due to a higher same-store NOI, which improved 4.3% to $92.5 million, combined with new and renewal leasing spreads of 21.3% and 15.5%, respectively, and record occupancy of 97.1% at the end of the quarter. For context, leased occupancy stood at 96.8% in the previous quarter. Along with lower interest expenses and marginally higher operating expenses, Nareit FFO for the quarter rose 26.5% to $71.9 million. Nareit FFO per share rose by four cents to $0.58 compared to the prior-year period.

Phillips Edison’s dividend should be relatively safe at its current levels, following a healthy payout ratio. Shares currently yield 4.1%.
Bob Ciura has worked at Sure Dividend since October 2016. He oversees all content for Sure Dividend and its partner sites. Bob received a Bachelor’s degree in Finance from DePaul University, and an MBA with a concentration in Investments from the University of Notre Dame.

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Most stocks pay dividends on a quarterly schedule. But some investors such as retirees might desire even more frequent dividend payments. Fortunately, there are stocks that make monthly dividend payments, which can help smooth out cash flows for shareholders.
dividend stocks, real estate investment trust, agree realty, gladstone land, phillips edison
Tuesday, 14 February 2023 02:16 PM
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