September historically punishes stock investors, and this year the warning signs are louder than usual. Five monthly dividend payers have quietly pulled back to yields that look compelling right now, and Wall Street analysts are taking notice.
Realty Income has evolved into a diversified global REIT, adding international assets, private credit, and asset management businesses. O's traditional external acquisition-driven growth model is less effective at its current scale, resulting in slowing AFFO per share and dividend growth. Compared to peers like ADC and NNN, O has underperformed in AFFO and total returns over the past decade, lagging especially behind ADC.
Retirement income planning has a rhythm problem. Bills arrive monthly, but most dividend stocks pay quarterly, forcing retirees to manage lumpy cash flow across a smooth budget.
September has a well-earned reputation as a
Agree Realty remains a high-quality net lease REIT, offering an attractive entry point at 17x forward AFFO and a 4% yield. Its fortress balance sheet, A-credit rating, and low leverage (5.2x, or 3.7x including unsettled equity) provide significant financial flexibility. Record investment activity and strong AFFO growth led to raised 2024 guidance, with acquisitions now expected at $1.6–$1.8B and AFFO at $4.57–$4.59.
ADC Therapeutics NYSE: ADCT reported second-quarter 2026 net product revenue of $18.6 million for ZYNLONTA, up from $18.1 million in the prior-year period, while executives said the treatment's commercial performance remained broadly consistent with recent quarters.
Retirees living off portfolio income don't get to sync their grocery bills, utility payments, and Medicare premiums to a quarterly calendar.
Agree Realty (ADC) offers consistent monthly dividends, backed by a resilient, investment-grade tenant base and a strong balance sheet. ADC is not as cheap as it may have been at one time, but based on its forward P/AFFO and ~4% yield, it remains attractive for long-term income investors. The expectation for consistent and continued growth over the long term can continue to fuel those monthly payouts trending in an upward trajectory.
ADC remains a hold due to its high valuation despite outstanding portfolio quality and defensive tenant mix. ADC's portfolio boasts 99.8% occupancy, 66% investment-grade tenants, and leading rent PSF, underpinning its sector outperformance. Recent acquisitions averaged a 7% cap rate with 11.2-year WALT, supporting raised AFFO/share growth guidance to nearly 6% for 2024.
Retirees heading into fall want two things from an income portfolio: a check that shows up every 30 days, and a dividend that will not be cut.
ADC delivered a strong Q2 with record acquisition activity, robust AFFO growth, and raised guidance across key metrics. ADC leverages a sector-leading cost of capital, maintaining a 150 basis point investment spread and a conservative balance sheet with net debt/EBITDA at 3.7x. External growth is fueled by aggressive equity issuance, but current valuation offers less yield than peers and is comparable to risk-free assets.
Agree Realty NYSE: ADC reported record second-quarter investment activity and raised its full-year outlook, citing strong acquisition, development and portfolio performance.