Looking to Start Earning Passive Income in November? Check Out These Top High-Yielding Monthly Dividend Stocks.

Key Points

EPR Properties has increased its monthly dividend by 3.5% this year. Stag Industrial has raised its payment every year since it went public in 2011. Realty Income has hiked its payout 132 times since its public market listing in 1994. 10 stocks we like better than Realty Income ›

Generating passive income can help you achieve greater financial independence. As you grow your sources of passive income, you'll become less reliant on your job to meet your financial needs.

Investing in higher-yielding dividend stocks is a great way to generate passive income. While most stocks pay quarterly dividends, some companies pay monthly dividends, making them an ideal option for those seeking recurring income. Here are three companies that pay attractive monthly dividends that should steadily rise in the future.

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EPR Properties

EPR Properties(NYSE: EPR) is a real estate investment trust (REIT) that owns experiential real estate, including movie theaters, eat-and-play venues, and attractions. The company leases these properties to companies that operate them, typically under long-term triple-net leases (NNN). That lease structure provides very steady rental income because tenants cover all property operating costs, including routine maintenance, real estate taxes, and building insurance.

This REIT's monthly dividend currently yields 7.2%. At that rate, every $1,000 you invest would generate $72 of annual passive dividend income (or about $6 each month). EPR plans to pay $3.54 per share in dividends this year (3.5% above last year's level), which it can easily cover with its cash flow ($5.05 to $5.13 per share of funds from operations (FFO) expected in 2025).

EPR uses the funds it retains to help finance new investments. It expects to spend between $225 million and $275 million this year on experiential development and redevelopment projects, acquisitions, and real estate-backed loans. The REIT anticipates investing even more capital next year (it has already lined up $100 million of capital projects to fund over the next 15 months). Those investments position it to continue increasing its monthly dividend.

Stag Industrial

Stag Industrial(NYSE: STAG) is a REIT focused on investing in industrial real estate like warehouses and light manufacturing facilities secured by long-term leases. Most of its leases feature rental escalation clauses (2.9% weighted average increase in 2025). As a result, its portfolio produces very stable and steadily rising cash flow.

The industrial REIT pays out about 70% of its cash flow in dividends, which enables it to retain over $100 million each year to reinvest in growing its portfolio. It expects to acquire $350 million to $650 million of properties this year and has several development projects underway. It had already acquired over $200 million of properties through the end of October and had $3.6 billion in potential opportunities in its pipeline.

Stag Industrial's growth drivers should enable the REIT to continue increasing its dividend, which currently yields 3.9%. It has raised its payment every year since its initial public offering in 2011.

Realty Income

Realty Income(NYSE: O) is a diversified REIT. It owns retail, industrial, gaming, and other properties across the U.S. and Europe net leased to many of the world's leading companies. The company's high-quality real estate portfolio produces very durable cash flow to support its 5.8%-yielding dividend.

The landlord has a conservative dividend payout ratio (about 75% of its adjusted FFO). That enables it to retain substantial free cash flow to fund new investments (nearly $850 million expected). Realty Income also has a top-ten balance sheet in the REIT sector, providing it with additional financial flexibility to expand its portfolio.

Realty Income expects to invest $5.5 billion to acquire more income-producing real estate this year. The REIT's growing portfolio supports its ability to steadily increase its dividend. It has raised its monthly payment 132 times since its public market listing in 1994, growing the dividend at a 4.2% compound annual rate. With $14 trillion of real estate across the U.S. and Europe suitable for net leases, Realty Income has plenty of room to continue expanding its portfolio to support continued dividend increases.

Ideal stocks to buy for passive dividend income

EPR Properties, Stag Industrial, and Realty Income all pay high-yielding monthly dividends. These high-quality REITs anticipate expanding their portfolios in 2025 and beyond, which should enable them to continue increasing their dividend payouts. Those features make them ideal stocks to buy for those seeking to start generating passive income this November.

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Matt DiLallo has positions in EPR Properties, Realty Income, and Stag Industrial. The Motley Fool has positions in and recommends EPR Properties and Realty Income. The Motley Fool recommends Stag Industrial. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.