10 Undervalued Monthly Dividend Stocks, Ranked In Order

Published on January 12th, 2026 by Bob Ciura

Monthly dividend stocks can be an attractive investment option for those seeking stable income.

Monthly dividends allow investors to receive more frequent payments than stocks which pay quarterly or semi-annual dividend payouts.

As a result, monthly dividend stocks can help to cover living expenses, or supplement other sources of income.

There are over 80 monthly dividend stocks that currently offer a monthly dividend payment.

You can download our full Excel spreadsheet of all monthly dividend stocks (along with metrics that matter, like dividend yield and payout ratio) by clicking on the link below:

Stocks with low P/E ratios can offer attractive returns if their valuation multiples expand.

And when a low P/E stock also has a high dividend yield, investors get ‘paid to wait’ for the valuation multiple to increase.

The 10 monthly dividend stocks below have high yields, and are undervalued. This could lead to outsized returns in the years ahead.

These 10 have not been vetted for dividend safety. Instead, they are simply the 10 most undervalued monthly dividend stocks in the Sure Analysis Research Database.

The stocks are sorted by annual valuation returns, in ascending order.

Undervalued Monthly Dividend Stock #10: Agree Realty (ADC)

Annual Valuation Return: 1.9%
Total Annual Expected Return: 9.7%

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 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.

Click here to download our most recent Sure Analysis report on ADC (preview of page 1 of 3 shown below):

Undervalued Monthly Dividend Stock #9: EPR Properties (EPR)

Annual Valuation Return: 3.1%
Total Annual Expected Return: 11.2%

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 REIT structures its investments as triple net, a structure that places the operating costs of the property on the tenants, not the REIT.

The portfolio includes about $7 billion in investments across 300+ locations in 44 states, including over 250 tenants. Total revenue should be in excess of $700 million this year.

EPR posted third quarter earnings on October 29th, 2025, and results were largely in line with expectations. Adjusted FFO-per-share came to $1.37, which was three cents ahead of estimates.

FFO was up from $1.26 in Q2, and $1.29 in the year-ago period. Revenue was up 1% year-over-year to $182 million, in line with expectations.

Property operating expenses were $14.5 million, down from $14.7 million in Q2 and $14.6 million a year ago. Adjusted EBITDAre was $147 million, up from $138 million in Q2 and $143 million a year ago.

Investment spending was $54.5 million, while realized disposition proceeds were $19.3 million. The trust also committed $100 million in experiential development and redevelopment projects over the next 15 months.

Click here to download our most recent Sure Analysis report on EPR (preview of page 1 of 3 shown below):

Undervalued Monthly Dividend Stock #8: Canadian Apartment Properties REIT (CDPYF)

Annual Valuation Return: 3.2%
Total Annual Expected Return: 9.8%

Canadian Apartment Properties Real Estate Investment Trust is Canada’s largest publicly traded residential REIT. The company completed its initial public offering in 1997.

As of September 30th, 2025, CDPYF owned approximately 45,000 residential apartment suites and townhomes. Most of these apartment suites are in Canada, with the portfolio heavily concentrated in Ontario, British Columbia, andQuebec.

The company’s Canadian portfolio enjoys exceptionally high occupancy, ending Q3 2025 with a 97.8% occupancy rate. CDPYF’s remaining suites are in the Netherlands. These were 90.8% occupied to close out Q3 2025.

In the first half of 2025, the company strategically disposed of 1.2 billion CAD of properties in Canada and the Netherlands.

These deals were completed at prices at or above previously reported IFRS fair values at the time of negotiation. The proceeds from these dispositions are being used to acquire recently constructed mid-market rental properties at prices that are meaningfully below replacement cost, as well as unit repurchases.

On November 6th, CDPYF released its earnings report for the third quarter. The company’s operating revenue in native currency declined by 10.7% over the year-ago period to 252.3 million CAD in the quarter.

Diluted FFO per unit edged 0.6% higher over the year-ago period to 0.663 CAD for the quarter. Adjusting for currency translation, CDPYF’s diluted FFO per unit decreased by 1.9% year-over-year to $0.47 in the quarter.

Click here to download our most recent Sure Analysis report on CDPYF (preview of page 1 of 3 shown below):

Undervalued Monthly Dividend Stock #7: Horizon Technology Finance Corp. (HRZN)

Annual Valuation Return: 3.2%
Total Annual Expected Return: 15.1%

Horizon Technology Finance Corp. is a BDC that provides venture capital to small and medium–sized companies in the technology, life sciences, and healthcare–IT sectors.

The company has generated attractive risk–adjusted returns through directly originated senior secured loans and additional capital appreciation through warrants.

On October 28th, 2025, Horizon announced its Q3 results. For the quarter, total investment income rose 6.9% year-over-year to $26.3 million, driven primarily by higher fee and interest income on investments from the debt portfolio.

The company’s dollar-weighted annualized yield on average debt investments in Q3 of 2025 and Q3 of 2024 was 18.6% and 15.9%, respectively.

Net investment income per share (IIS) remained flat year-over-year at $0.32. Net asset value (NAV) per share improved to $7.12, up from $6.75 in the prior quarter, but this was down from $9.12 in the prior year.

Horizon’s undistributed spillover income stood at $0.93 per share at quarter-end, maintaining a strong income cushion to support future dividends.

Click here to download our most recent Sure Analysis report on HRZN (preview of page 1 of 3 shown below):

Undervalued Monthly Dividend Stock #6: Gladstone Commercial Corp. (GOOD)

Annual Valuation Return: 3.5%
Total Annual Expected Return: 13.1%

Gladstone Commercial Corporation is a real estate investment trust, or REIT, that specializes in single-tenant and anchored multi-tenant net leased industrial and office properties across the U.S.

The trust targets primary and secondary markets that possess favorable economic growth trends, growing populations, strong employment, and robust growth trends.

The trust’s stated goal is to pay shareholders monthly distributions, which it has done for more than 17 consecutive years. Gladstone owns over 100 properties in 24 states that are leased to about 100 unique tenants.

Gladstone posted third quarter earnings on November 4th, 2025, and results were mixed. The trust posted FFO-per-share of 35 cents, which was three cents light of estimates. Revenue was $40.84 million, beating expectations narrowly. For the nine months, FFO was $1.02 per share.

Same-store lease revenue was up 3.1% year-over-year in the nine-month period ending in September, which was due to an increase in recovery revenue from property expenses, as well as higher rental rates.

Gladstone sold 4.4 million shares of common stock under its at-the-money program, raising net proceeds of $61 million. It now has $6 million in cash and $63 million in available liquidity.

The dividend remains flat at $1.20 per share annually. Gladstone’s portfolio is 99.1% occupied, the highest level since the first quarter of 2019, and the weighted average lease term is 7.5 years.

Click here to download our most recent Sure Analysis report on GOOD (preview of page 1 of 3 shown below):

Undervalued Monthly Dividend Stock #5: Ellington Credit Co. (EARN)

Annual Valuation Return: 3.7%
Total Annual Expected Return: 19.8%

Ellington Credit Co. acquires, invests in, and manages residential mortgage and real estate related assets. Ellington focuses primarily on residential mortgage-backed securities, specifically those backed by a U.S. Government agency or U.S. government–sponsored enterprise.

Agency MBS are created and backed by government agencies or enterprises, while non-agency MBS are not guaranteed by the government.

On November 19th, 2025, Ellington Credit reported its second fiscal quarter results for the period ending September 30, 2025. The company generated net income of $4.3 million, or $0.11 per share.

Ellington achieved adjusted net investment income of $8.5 million in the quarter, or $0.23 per share. At quarter end, Ellington had $20.1 million in cash and cash equivalents.

Click here to download our most recent Sure Analysis report on EARN (preview of page 1 of 3 shown below):

Undervalued Monthly Dividend Stock #4: True North Commercial REIT (TUERF)

Annual Valuation Return: 3.8%
Total Annual Expected Return: 9.7%

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.

Click here to download our most recent Sure Analysis report on TUERF (preview of page 1 of 3 shown below):

Undervalued Monthly Dividend Stock #3: SL Green Realty (SLG)

Annual Valuation Return: 4.7%
Total Annual Expected Return: 10.5%

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.

Click here to download our most recent Sure Analysis report on SLG (preview of page 1 of 3 shown below):

Undervalued Monthly Dividend Stock #2: Dream Office REIT (DRETF)

Annual Valuation Return: 5.3%
Total Annual Expected Return: 10.0%

Dream Office REIT is a Toronto-focused office real estate investment trust that owns and manages a portfolio of 24 high-quality office properties totaling 4.8 million square feet of gross leaseable area.

Most of its properties are concentrated in downtown Toronto, one of the most institutional and supply-constrained office markets in the country.

The REIT is listed on the Toronto Stock Exchange under the ticker D.UN. It also trades Over the Counter as DRETF.

On November 6th, 2025, Dream Office REIT posted its Q3 results for the three months ended September 30th, 2025. Net rental income totaled about $17 million, down from about $19 million last year.

This was primarily due to the sale of 438 University Avenue earlier in 2025 and lower occupancy in downtown Toronto following the expiry of a major lease at 74 Victoria Street.

Same-property net operating income was essentially flat year-over-year at about $18 million, as rent step-ups, new leasing, and cost efficiencies offset the impact of lower occupancy.

Dream Office completed about 167,000 square feet of leasing activity during the quarter. In Toronto downtown, new leases were signed at average rents roughly 10% above expiring levels.

Diluted FFO per unit was $0.43, down from about $0.55 last year.

Click here to download our most recent Sure Analysis report on DRETF (preview of page 1 of 3 shown below):

Undervalued Monthly Dividend Stock #1: Healthpeak Properties (DOC)

Annual Valuation Return: 10.5%
Total Annual Expected Return: 17.9%

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.

In late October, Healthpeak Properties reported (10/23/25) results for the third quarter of fiscal 2025. Same-property net operating income grew 9.4% 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 $0.45 to $0.46.

Management still expects annual FFO per share of $1.81-$1.87.

The payout ratio is standing at a nearly 10-year low while the REIT did not have any debt maturities in 2025. The REIT has begun to recover from the pandemic. We also expect the trust to enter a sustainable growth trajectory.

Click here to download our most recent Sure Analysis report on DOC (preview of page 1 of 3 shown below):