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.

And, there are many monthly dividend stocks with high yields. This article will discuss 3 of the top high-yielding monthly dividend stocks today.

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%.

LTC Properties (LTC)

LTC Properties is a REIT that invests in senior housing and skilled nursing properties. Its portfolio consists of approximately 50% senior housing and 50% skilled nursing properties. Just like other healthcare REITs, LTC benefits from a strong secular trend, namely the high growth of the population that is above 80 years old.

This growth results from the aging of the baby boomers’ generation and the steady rise of life expectancy thanks to sustained progress in medical sciences. The REIT owns 194 investments in 26 states, with 31 operating partners.

In late October, LTC reported (10/29/24) financial results for the third quarter of fiscal 2024. Funds from operations (FFO) per share grew 5% over the prior year’s quarter, from $0.65 to $0.68, but missed the analysts’ consensus by $0.01.

The increase in FFO per share resulted primarily from higher income from previously transitioned properties and higher income from loan originations. LTC drastically improved its leverage ratio (Net Debt to EBITDA) from 5.3x to 4.2x thanks to various asset sales.

The REIT has most of its assets in states with the highest projected increases in the 80+ population cohort over the next decade. Moreover, LTC has been hurt by the pandemic, but this crisis has subsided. Due to the low comparison base formed this year, we expect 3.0% growth in FFO per share over the next five years.

LTC currently yields 6.1%.

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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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.