12 Best High Dividend Stocks Under $100

7. Agree Realty Corporation (NYSE:ADC)

Number of Hedge Fund Holders: 26

Dividend Yield as of January 24: 4.23%

Share Price as of January 24: $71.83

An American real estate investment trust company, Agree Realty Corporation (NYSE:ADC) ranks seventh on our list of the best high-dividend stocks under $100. The company is regarded as a leading player in the retail sector. Its key tenants include major retailers such as Walmart, Tractor Supply, Dollar General, Best Buy, TJX, Dollar Tree, Lowe’s, and Kroger, collectively contributing about one-third of the REIT’s annual rental income. The remaining two-thirds come from other resilient businesses. The stock has delivered a 21.5% return in the past 12 months.

As of September, Agree Realty Corporation (NYSE:ADC) maintained a remarkable occupancy rate of 99.6% across its properties. In the third quarter of 2024, the company reported revenue of $154.3 million, reflecting nearly 13% year-over-year growth. In addition, the company invested around $237 million in 93 retail net lease properties during the quarter.

Agree Realty Corporation (NYSE:ADC) is efficiently managed, with tenants covering the majority of the property’s operating expenses. Over the last ten years, the company has achieved impressive growth, increasing its dividend by about 6% annually. Its portfolio has also expanded substantially, rising from 130 properties in late 2013 to 2,271 properties by the close of the third quarter of 2024. On January 14, the company declared a monthly dividend of $0.253 per share and has a dividend yield of 4.23%, as of January 24. It can be a reliable investment option for income investors as the company has been paying regular dividends since its IPO in 1994.

The number of hedge funds tracked by Insider Monkey owning stakes in Agree Realty Corporation (NYSE:ADC) grew to 26 in Q3 2024, from 23 in the previous quarter. These stakes are worth roughly $565 million in total.