Income investors looking for more consistent dividend payments throughout the year, should consider monthly dividend stocks. While most dividend stocks pay dividends on a quarterly, semi-annual, or annual basis, monthly dividend stocks make dividend payments once per month.Investors can also screen for monthly dividend stocks that appear to be undervalued right now. In this way, income investors can focus on undervalued monthly dividend stocks that have a high total return potential.1. EPR Properties (EPR)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.EPR’s competitive advantage is its portfolio of specialized properties. EPR has methodically identified the most profitable properties through years of experience and focuses its investments in these areas. It certainly isn’t immune to recessions, but it remained profitable during the worst of the financial crisis and continued to pay its dividend.EPR currently yields 6.4%.2. Canadian Apartment Properties REIT (CDPYF)Canadian Apartment Properties Real Estate Investment Trust is Canada’s largest publicly traded residential REIT. 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, and Quebec.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.Since 2015, CDPYF has logged approximately 4% annual FFO per unit growth. In the years ahead, we think similar FFO per unit growth (3.5%) will occur through 2030, on an expected 2025 base of $1.80. This is because the company has more than tripled the footprint of recently constructed rental properties in its portfolio over the last five years (5% versus 18%).The company expects to continue buying recently constructed rental buildings with strong pricing per square foot at valuations significantly below replacement cost. CDPYF’s status as the largest residential REIT in Canada mainly comes with size and scale advantages. This allows the company to capitalize on more favorable property management rates and financing costs, which results in lower per unit operating costs compared to smaller competitors.3. Healthpeak Properties (DOC)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.Healthpeak Properties posted declining FFO for six consecutive years, until 2022. The REIT ran into trouble in 2015, when a major tenant was sued for Medicare claims fraud. As a result, the REIT incurred a $1.3 billion asset impairment charge and has been going through a major restructuring. However, Healthpeak Properties has sold several assets and has used the proceeds to reduce its debt. As a result, the REIT has received credit rating upgrades from S&P and Fitch (to BBB+) as well as Moody’s (to Baa1).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. Its growth will be boosted by a major acquisition. In March 2024, Healthpeak Properties closed its acquisition of Physicians Realty Trust (DOC) in an all-stock merger of equals valued at ~$21 billion. DOC currently yields 7.0%.Get the complete list of Undervalued Monthly Dividend Stocks here***Disclosure: No positions in any stocks mentioned