5 Monthly Dividend Stocks to Buy in March

2. Agree Realty Corporation (NYSE:ADC)

Number of Hedge Fund Holders: 26

Dividend Yield as of March 7: 4.14%

Agree Realty Corporation (NYSE:ADC) is a Michigan-based real estate investment trust that is focused on the acquisition and development of properties that are leased to prominent retail tenants. 

On February 14, Agree Realty Corporation (NYSE:ADC) declared a $0.227 per share monthly dividend, in line with previous. The dividend is payable on March 14, to shareholders of record on February 28. Additionally, the company’s board authorized a monthly cash dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.08854 per depositary share, payable on March 1. 

Agree Realty Corporation (NYSE:ADC) on February 22 announced its Q4 results, highlighting a healthy balance sheet and strong acquisition volume. Acquisition volume for the fourth quarter was approximately $314.7 million and included 71 properties net leased to a variety of retailers.

Raymond James analyst RJ Milligan lowered the price target on Agree Realty Corporation (NYSE:ADC) to $76 from $83 but kept a Strong Buy rating on the shares on February 24, following the company’s Q4 results. The analyst believes Agree Realty Corporation (NYSE:ADC) is delivering outsized growth without taking outsized risk. 

Among the hedge funds tracked by Insider Monkey, 26 funds were bullish on Agree Realty Corporation (NYSE:ADC) in Q4 2021, up from 20 funds in the quarter prior. Millennium Management is the leading stakeholder of the company, owning 1.17 million shares worth $83.5 million.